Finding Money for Your Small New Jersey Business

If you have a small New Jersey business and you’re wondering about financing – look no further than this informative podcast from the office of the Small Business Administration (SBA).

Ron Johnson of the SBA is the interviewer and the interviewee is Jim Hammersely.

Some highlights:

Ron Johnson: What is this 7A loan program?

Jim Hammersley: The 7A loan program is a program where SBA puts a federal guarantee on a loan made by a private sector lender, typically a bank, to a qualifying small business.  The purpose of the guarantee is to encourage the lender to make a loan to a small business that would not quite qualify under their conventional standards but has a viable business and a well-thought out business plan.

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Financing a Small Business

Many new business owners don’t have the money to begin or grow their new New Jersey business. Funding is necessary so they turn to family, friends, VC’s, and small business loans. This short podcast talks a little bit about how to go about finding the money to fund your new business.

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If you have any experiences you want to share about financing your small New Jersey business with help from the SBA please leave your story in the comments section below. Thanks!

SBA Loan Changes Help Small Businesses

This is an audio podcast you can listen to for tips on ways the Small Business Administration (SBA) recent loan changes can help your New Jersey small business.

Highlights from the podcast:

Ron Johnson: Now can I qualify for a loan if I’m just
starting a business?

Eric Zarnikow: You know, one of the things SBA does, and
a lot of our partial government guarantees actually go to
support a start up business. So SBA loan programs are
available for both start up businesses as well as established
businesses. The business does need to be organized for profit.
It needs to meet our size standards, and it needs to be a small
business. And we’re really focused on helping access to
capital for businesses that can’t get capital through
conventional lending channels, so we’re actually broadening the
access to capital for small businesses. In the end, it needs
to be a creditworthy small business. You’ll need to work with
a lending partner as part of getting a loan that’s backed by
the SBA, but there are resources that are available to people
who are just starting a business.

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Loan Program Changes Helping Small Businesses

This audio interview is of Ron Johnson interviewing Eric Zarnikow, Associate Administrator of SBA’s Office of Capital Access

Need financing in these tough times? The new changes at the SBA’s biggest loan program can possibly be of some assistance to you.

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New Jersey Business Disaster Assistance

This short podcast covers some things you should be aware of as a New Jersey small business owner in the case of a disaster. Ron Johnson interviews James Rivera, the Associate Deputy Associate Administrator for Disaster Assistance at the Small Business Administration (SBA).

If disaster strikes your New Jersey business – you’ll find out what to do to cover yourself and take the sting out of it.

Quote from the podcast:

Ron Johnson: What is SBA’s role when a disaster is declared?

James Rivera: SBA’s Office of Disaster Assistance provides low-interest loans to help disaster victims repair or replace personal or physical property not covered by insurance. Often, individuals and businesses are uninsured or underinsured. When losses are suffered, SBA can make loans to homeowners, renters, and businesses.

Ron Johnson: So James, what types of disaster assistance loans are available from the SBA?

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James Rivera: For homeowners and renters, SBA can make loans to repair or replace personal property, items such as clothing, furniture, cars, or appliances damaged or destroyed by the disaster. Homeowners that sustain damage to the real estate may also receive a loan to repair or replace their primary residence. For businesses and nonprofits, we have two types of loans available. Physical disaster loans can be used to repair or replace items such as damaged real estate, machinery and equipment, inventory and furniture and fixtures, et cetera, and we also have an economic injury disaster loan to pay for fixed operating expenses or in other words, a working capital loan to pay for rent or electricity that would have been paid had the disaster not occurred.

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SBA Provides Disaster Assistance to Homeowners, Renters, Businesses

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If you have any experience with using the SBA for your New Jersey (or other state) business disaster assistance feel free to leave comments about it below.

Women Owned Small Business Podcast

Women owned businesses are growing at an above average rate, but they have a long way to go. If you are a woman considering starting your own business  in New Jersey, or any other state, you might want to listen to this Small Business Administration podcast.

Here are some highlights:

Ron Johnson: Ana, I’m sure our audience has many questions. And I’ll start with what steps should a woman first take when starting a business?

Ana Harvey: Well, that’s easy. She should do her homework first. That is, she needs to have a road map that would take her where she wants to go. And, of course, I’m talking about the business plan. You know, the process of developing the business plan forces you to think very carefully about your target market and how you’re going to reach it. And it forces you to think about your goals and the money you need, where it is going to come from and where is it going to go. When a lender sees that you have really done your homework, you have a plan to start or grow your business, you’re far more likely to get that loan, that line of credit that you need. Without a business plan, getting a loan is almost impossible. Without a business plan, growing that business is a lot more difficult.

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Ron Johnson: Many young women may be interested in starting their own small businesses. So, what kinds of resources does SBA offer to support their small business goals?

Ana Harvey: Well, they can start by visiting our Website at the SBA Develop with Junior Achievement. It has a great name and it is easy to remember. It is mindyourownbiz.org. And there are several more youth-oriented Websites at www.sba.gov. You just have to click on Services, then go to Special Audiences, and then Young Entrepreneurs. And also, some of our Women’s Business Centers even have training specifically geared to young women. But any center would be more than happy to help them

Women’s Business Ownership: Starting, Financing and Growing the Right Way
Featuring Ron Johnson & Ana Harvey, Assistant Administrator of SBA’s Office of Women’s Business Ownership

Nearly 104 million businesses are majority owned by women. They provide 12 million jobs and generate more than a trillion dollars in sales. This discussion provides guidance for women in how to get off to the right start in building, financing and growing their small businesses.
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Online Business Podcasts

Here are some audio podcasts from some of the top internet pros to help you in your online business – if that’s what you choose to do.

There are also some podcasts that are related to marketing that can help you – whatever business you have.

Audio files:

Dealing with Customer Complaints

How to do a Successful Product Launch

How Caroline M Makes over $1,000 per Month Online

Two Basic Search Engine Optimization (SEO) Tips

Financing a Small Business

Starting a Business Checklist

Creating a Business Plan

How to Choose  a Web Designer

Small Business Resources at IRS

Here is a short video about small business resources you might find helpful.

The IRS has a wealth of information at their main site: IRS.gov that you should familiarize yourself with. Here are some of the important ones for small business.

Home Office Tax Deduction Video

The IRS has put out a whole series of helpful videos about different tax issues that are designed to help small New Jersey businesses (USA businesses).

This video goes over the all important and often discussed “Home Office Deduction”. This is such an important area to look into because if used correctly it can be a big savings on taxes. If used incorrectly it can be the basis for the IRS investigating (auditing) your tax return.

Have a look at the video – and they recommend IRS publication 587, business use of your home for more information which you should also have a look at.