LEHI, Utah–July 25, 2024–Today, Lendio released its inaugural State of SMB Lending report. In the survey of over 1000 small business owners, 68% of small businesses say access to financing is the most important factor in the growth of their... The post Small Business Owners Depend on Access to Capital But Struggle to Find Ideal Solution, Study Finds. appeared first on Lendio ..read more

July 25, 2024–U.S. small business lenders increased requirements to qualify for financing in the first half of 2024, but are cautiously optimistic the market will improve, according to the Q1 2024 SMB Lending Index released today by Lendio. Lendio’s SMB... The post Lending Index Finds Lenders Split on Small Business Access to Capital, But Optimistic About Market Improvement appeared first on Lendio ..read more

The pandemic proved that necessity can be the mother of adoption, as millions of patients have turned to telehealth to reach providers despite distance, time, and social-distancing guidelines. Since then, it’s become clear that telehealth is here to stay. While small practices... The post Guide to Adding Telehealth to Your Practice appeared first on Lendio ..read more

A small business loan can be secured or unsecured. A secured loan is backed by collateral like property, equipment, or other business assets of value. An unsecured loan is based on creditworthiness alone and leaves a lender unprotected if the loan is not repaid.  Learn more about secured vs unsecured business loans below to decide which option is right for you. What is a secured business loan? A secured business loan is a type of financing that is backed by collateral, which can be a valuable asset owned by the business. This means that if the borrower defaults on the loan, the lender has ..read more

This guide will walk you through the key steps to start a delivery business. There are no universal road maps for this process, so it’s important to connect with a trusted mentor who can help you navigate the inevitable challenges and surprises that arise. Contact your local SCORE office if you don’t already have a mentor. 1. Start with a solid business plan. It’s impossible to reach a milestone that has never been identified, so to set your delivery business up for success, you need to chart the road ahead. The best way to get your business plan started is to answer key questions about what y ..read more

Freelancers. Contractors. Sole proprietors. Solo-entrepreneurs. Participants in the gig economy. There are several names for what you do, but they all reflect one idea: you work for yourself, find your own clients, and are responsible for your success.  While others may find this idea terrifying, you navigate your career with confidence, always looking for new ways to grow your income—and you’re not alone.  According to a 2023 report by Upwork, 38% of workers in the US have some sort of gig arrangement. The range goes from gig work as a sole source of income (like a solo entrepreneur ..read more

Starting a business is an exhilarating endeavor, but building a solid, loyal customer base is a crucial endeavor that can often feel like scaling a mountain—exciting yet daunting.  From the early days of the business to years after a business’s birth, it’s essential to continue growing and retaining a customer base to survive. Navigating the landscape of building and retaining a customer base requires a blend of intuition, strategy, and sometimes, a bit of luck. However, the foundation of this endeavor rests on understanding your audience deeply and engaging with them in ways that resonat ..read more

Starting and growing a small business is no easy feat, especially for minority entrepreneurs who often face additional barriers. Thankfully, a wealth of grant opportunities are designed specifically to support minority-owned businesses. Here are 29 grants that can provide the funding you need to take your business to the next level. 1. Grants.gov Grants.gov is the go-to portal for information on federal grants offered by various agencies. With over 1,000 grants from 26 agencies, this platform provides a comprehensive database tailored to small businesses, including those owned by minorities. T ..read more

Ah, the pitch. It’s the proverbial softball throw used to score your business a home run. It’s the conversation that opens the door to a customer believing you can solve their problems and lets you close the deal. Let’s talk about creating the perfect pitch to hit the ball out of the park every single time. Types of business pitches. Pitches come in all flavors and sizes, and your first step is to identify why you are pitching. Are you trying to introduce your business? Plant the seed for a future conversation? Win immediate business? Pitches typically are 1 of 3 types: Cold pitch The elevator ..read more

Every business will face an emergency at some point. Building a cash reserve will help your small business to weather the storm.  What is a cash reserve? Cash reserves are funds set aside to cover unexpected expenses or financial emergencies. It serves as a crucial safety net for small businesses. How much money should go into a cash reserve? Step one for building a cash reserve for your business is understanding how much money you need. Look at your finances and determine your average monthly cash outlay. Based on your business’s needs, set a goal to save enough cash to withstand whateve ..read more