Category: Business Financing

This story was updated December 23, 2024 to reflect the latest Federal Reserve rate increase. The Federal Reserve lowered interest rates in 2024, and small business owners may see lower borrowing costs as a result. Here's what you can do. The Federal Reserve announced on December 18, 2024 that it lowered a key interest rate again by .25 percentage points, moving the target range for the federal funds rate to between 4.25 and 4.5%. The federal funds rate is a… Read More

Maine often ranks among the top states in the US to start a business, with strong community and government support as well as a beautiful environment that attracts visitors from all over the world. Some 150,593 small businesses call Maine home, and they generate more than half the state’s jobs according to the SBA’s 2021 Small Business Profile. But running a business in Maine is not without its challenges. A short tourism season, labor shortages, as well as the impact… Read More

Some 100,000 plus Rhode Island small businesses employ nearly 231,000 people, according to the SBA’s 2021 Small Business Profile. Women owned 40% of those businesses, and almost 7% were owned by veterans.  Access to capital is often an ongoing challenge though. The majority of these small businesses have no employees and may find it difficult to qualify for traditional financing such as bank loans. If you’re a business owner in Rhode Island looking for a small business loan, you’ll want… Read More

West Virginians who are entrepreneurs sometimes struggle to get the cash they need to run their businesses during difficult times. That might be a result of a global pandemic or simply a slow period of sales. What can you do if your business doesn’t have enough cash to pay its bills? Consider a small business loan. How a Small Business Loan Can Help Your West Virginia Business Did you know that small business loans can be used for just about… Read More

Small business owners from Sioux Falls to Pierre to Rapid City are the lifeblood of the state of South Dakota. They employ more than half of the state’s employees, so tens of thousands of people and their families rely on small businesses! But entrepreneurship isn’t easy. One of the top reasons small businesses fail is that they often do not have enough money to survive, especially during turbulent economic markets. Fortunately, there’s a solution: small business loans. How a Small… Read More

Not only is Hawaii a beautiful place to start a business, research shows that small businesses in Hawaii traditionally have a higher survival rate during the 24 years analyzed, when compared to the US as a whole. Fewer businesses were started overall, but those that survived lasted longer.  However, the pandemic hit Hawaii’s economy— which depends heavily on tourism—  hard.  As the Aloha State struggles to recover, many businesses will continue to need funding beyond pandemic relief programs such as… Read More