SBA Announces New Upcoming Business Loan Programs

This spring the Small Business Administration will introduce two new SBA loan programs that will provide capital to underserved entrepreneurs directly through nonprofit microfinance organizations.

The Community Advantage and Small Loan Advantage programs are both a simpler and easier way for lenders to make smaller-dollar loans and get a full SBA guarantee of up to 85 percent.

They are open to borrowers who would regularly qualify for an SBA loan. There are no geographical restrictions, but the loan must be $250,000 or less.

The Small Loan Advantage will be available through 630 lenders including the largest banks as well as regional banks.

Interest rates vary by the size of the loan, but generally they will be around prime plus 2.75 percent.

The same process will be used for the Community Advantage program, but loans will be provided by “mission lenders,” who are primarily not-for-profits engaged in community economic development. These mission lenders will reach out to entrepreneurs lacking collateral and be able to fund them based on cash-flow.

If you are interested in learning more about loan programs and obtaining funding for your business, you can contact a professional consultant with The World Advisory Company.

5 Simple Internet Marketing Strategies for Small Business

With the internet increasingly becoming a vital part of conducting business, thousands of potential customers are just a click away. However, with so many sites on the web, it can be nearly impossible to get noticed.

The following 5 simple steps should improve your marketing on the internet and have you on your way to reaching a world of customers.

1. Website

The first step in establishing an online presence for your business is to have a website. This is the most central part of your internet marketing and everything else will revolve around it.

Once you have a site established, you have to ensure that it is effective. This means creating a user-friendly experience and clearly delivering the message of your business.

2. Search Engine Optimization

Once your website is up and running, it must become visible on the web. One of the most common ways for people to find your business is through search engines.

There are a variety of techniques to implement to improve your website’s visibility in search engines. The most important aspects relate to the content of your site and quality links to your site from around the web.

3. Social Media

One of the greatest advancements in business on the web has been the establishment of online communities. Certain websites gather thousands and even millions of people with particular interests and associations.

This brings about the ability to reach large numbers of potential customers in specific target markets. These sites can be used for attracting new customers and keeping in touch with your past and current customers.

Social media sites also provide great opportunities to provide links to your site that will increase traffic and improve visibility in search engines.

4. Email

Another powerful tool for conducting business online is through email. It can be used to reach out to new customers or to keep in touch with current and past customers.

Creating a mailing list with your contacts will help keep you involved in their lives and can be used to inform them about promotions and any other news of your business.

There are several programs that exist that make email marketing simple and allow you to reach a high volume of recipients without being considered spam.

5. Advertising

There are a variety of ways to promote your business online through paid advertising. You can use traditional banner ads, which are basic graphic images or you can use contextual ads that are displayed according to a site’s content.

There are certain advertising programs that can display your ads to a very specific target audience. Many advertising programs offer free trials so you can see if it will be effective for your business.

If these strategies are properly implemented, they can be very effective in bringing in new business. Internet marketing can become quite advanced, but this are the necessary steps needed to get started.

If you are interested in receiving personal assistance with the implementation of any of the above strategies, you can speak with a professional consultant from The World Advisory Company