Recent Articles From EvanCarmichael.com http://www.evancarmichael.com/ http://www.evancarmichael.com/SBA/772/Asset-Liquidation.html http://www.evancarmichael.com/SBA/772/Asset-Liquidation.html Before you terminate your lease, sell a key piece of equipment, or disconnect your utilities, make sure you review this liquidation sale checklist. http://www.evancarmichael.com/SBA/772/Sales-Agreement.html http://www.evancarmichael.com/SBA/772/Sales-Agreement.html The sales agreement is the key document in buying the business assets or stock of a corporation. It is important to make sure the agreement is accurate and contains all the terms of the purchase. It would be a good idea to have an attorney review this document. It is in this agreement that you should define everything that you intent to purchase of the business, assets, customer lists, intellectual property, and goodwill. http://www.evancarmichael.com/SBA/772/Planning-Your-Exit.html http://www.evancarmichael.com/SBA/772/Planning-Your-Exit.html If you've ever given any serious thought to exiting your business, now is the time to start. Exiting is a multi-step process that can take from weeks to years depending on the size of the organization and the reasons for exiting. http://www.evancarmichael.com/SBA/772/Plain-English-Guide-to-Getting-Out-of-Business.html http://www.evancarmichael.com/SBA/772/Plain-English-Guide-to-Getting-Out-of-Business.html If you've never given any serious thought to exiting your business, now is the time. For sole proprietors, getting out of business can be nearly as easy as quitting a job. For most other small business structures, however, exiting is a multi-step process that can take from weeks to years depending on the size of the organization and the reasons for exiting. In most cases, the end goal is to maximize the value of the company and convert that value to cash. http://www.evancarmichael.com/SBA/765/Borrowing-Money--Banker-Key-Questions.html http://www.evancarmichael.com/SBA/765/Borrowing-Money--Banker-Key-Questions.html The key questions the banker will be seeking to answer are as follows: http://www.evancarmichael.com/SBA/765/Equity-Financing.html http://www.evancarmichael.com/SBA/765/Equity-Financing.html Most small or growth-stage businesses use equity financing in a limited way. As with debt financing, most of the time additional equity comes from non-professional investors such as friends, relatives, employees, customers or industry colleagues. http://www.evancarmichael.com/SBA/765/Becoming-a-CDC.html http://www.evancarmichael.com/SBA/765/Becoming-a-CDC.html The 504 Certified Development Company (CDC) Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. A Certified Development Company is a nonprofit corporation set up to contribute to the economic development of its community. CDCs work with the SBA and private-sector lenders to provide financing to small businesses. There are about 270 CDCs nationwide. Each CDC covers a specific geographic area. http://www.evancarmichael.com/SBA/765/Microlenders.html http://www.evancarmichael.com/SBA/765/Microlenders.html The Microloan Program provides very small loans to start-up, newly established, or growing small business concerns. Under this program, SBA makes funds available to nonprofit community based lenders (intermediaries) which, in turn, make loans to eligible borrowers in amounts up to a maximum of $35,000. The average loan size is about $13,000. Applications are submitted to the local intermediary and all credit decisions are made on the local level. http://www.evancarmichael.com/SBA/765/Prequalification-Program.html http://www.evancarmichael.com/SBA/765/Prequalification-Program.html The Prequalification Loan program uses intermediary organizations to assist prospective borrowers in developing viable loan application packages and securing loans. This program targets low income borrowers, disabled business owners, new and emerging businesses, veterans, exporters, rural and specialized industries. http://www.evancarmichael.com/SBA/765/SBA-Loans.html http://www.evancarmichael.com/SBA/765/SBA-Loans.html The SBA offers numerous loan programs to assist small businesses. It is important to note, however, that the SBA is primarily a guarantor of loans made by private and other institutions and does not offer loans to small businesses. Within SBA Loan Topics we’ll review: