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Tag Archives: Small Businesses

Facebook Launches New Cash Advance Project for Small Businesses

Facebook has been working on a new service for small businesses that advertise on their platform: business loans. Working with Toronto-based Clearbanc, the social media network has created a plan called Chrged in which Facebook Ad accounts can be linked with the firm for offers of up to half a million dollars in growth capital.

The funds, which are cleared by Clearbanc, are merchant cash advances instead of traditional loans, which gives the firm the ability to tap into a certain percentage of revenues until the money has been repaid in full, as well as charge a fee of around 5-20%. The latter is determined based on daily cash flows and the small business’s abilities.

Andrew D’Souza, Clearbanc co-founder and chief executive, said nearly 1,000 small business owners have reached deals since the program launch. Many people view this option as better than traditional loans due to its more lenient requirements.

“We don’t think you need to risk your house and everything else if you’re trying to build a business,” D’Souza explained.

Facebook does not take a cut from the proceedings, though it sees the ongoing ties between the network and small businesses as beneficial.

“At Facebook, we are in the business of helping small companies become large and local companies become global,” explaind SMB North America director Katherine Shappley. “The Chrged program by Clearbanc provides an exciting opportunity for business to access they resources they need to grow.”

5 New Year’s Resolutions for Small Businesses

New Year’s is a time of new beginnings, and there is no better time to improve your business. Take advantage of the momentum and enthusiasm that generally come with new beginnings, and get your small business in gear with these five resolutions: File all legal paperwork. Go through the endless stacks of documents that have… Continue Reading

Digital Tools in the Small Business World

USA Today Money’s Smart Small Business series focuses on expanding small firms and their tactics, challenges and triumphs. Reuben Canada, founder and CEO of Canada Enterprises, explains why digital tools have a significant role in small business growth today. He explains that he uses several social media platforms, including Facebook, Twitter, and Youtube to promote… Continue Reading

Small Businesses Support Sun Life Stadium

Small businesses are supporting the modernization of South Florida’s Sun Life Stadium. The Miami Dolphins are hoping to gain public funding as well. According to the team, small businesses are hoping to benefit benefit from a sale tax rebate and a Miami-Dade County hotel tax are approved to fund the stadium improvements. “It just helps… Continue Reading

Small Business Advice for Natural Disasters

This year has seen its fair share of natural disasters, including the two storms Sandy and Nemo. Now, the United States are preparing for winter storm ‘Q’, which is expected to hit at the end of the week. These incidents have a direct impact on business throughout the country. Small businesses are especially affected. According… Continue Reading

Small Businesses in 2013

Small business are expecting to grapple with the same challenges as last year in 2013, as well as new ones resulting from uncertain negotiations regarding tax and budget issues. Small companies throughout the U.S. are likely to proceed with caution, while reducing their hiring rates. Scott Shane, a professor of entrepreneurship at Case Western Reserve… Continue Reading

Small Business Saturday in Connecticut

Small Business Saturday, recently celebrated by shoppers throughout the U.S., was a lucrative event for both residents and local businesses. In Milford, Connecticut, many dedicated consumers ventured into boutiques late on Friday night to get a head start. The day was designated to support small businesses during the momentum of Black Friday, and has been… Continue Reading

Small Businesses Cautious but Optimistic

According to a Bank of America survey, Boston-area small business owners are feeling optimistic, if cautious, about the upcoming fiscal year.  Many expect to increase sales as well as workers throughout 2013. Though 9% of small businesses in the region expect revenue to fall in 2013, more than half of those polled project significant increases.… Continue Reading