A major problem facing small business owners today is the difficulty in arranging credit and bank loans to finance ongoing operations. Many financial institutions have been reluctant to lend money at a reasonable rate, if at all.
One retailer, Sam's Club, realizing this situation was impacting their business customer's ability to buy at their stores, has gotten creative. About half of the store's members are small business owners and they account for more than half the revenue at the retailer. As a result of surveying their customer's needs, they will soon start marketing S.B.A. loans of $5,000 to $25,000 for members nationwide. The company that is managing the loans is giving Sam's members a $100 discount on the application fee, and lower interest rates, because of how much business it expects through the arrangement. You can learn about how it works at Sam's Club S.B.A. Program.
The Ann Arbor District Library has many resources designed to help small business owners.
To find potential new business use Reference USA to get detailed information on over 15 million businesses including company size and sales information, stock information, and management biographies. To discover new ways of doing business and up-to-date management techniques use General Business File to find millions of articles on business and finance for analyzing company performance, industry events, and the latest in management, economics, and politics.
Legal Guide for Starting & Running a Small Business, Deduct It!: Lower Your Small Business Taxes, The 7 Irrefutable Rules Of Small Business Growth and The Small Business Start-up Kit are just a small sample of the many books we have devoted to helping the small business owner.