The Small Business Administration (SBA) is certainly not immune to the havoc caused by the pandemic to many small businesses. As a matter of fact, it’s just retooled its Economic Injury Disaster Loan (EIDL) program, so even if you were previously turned down for an EIDL, the SBA suggests you reapply. “Our mission-driven SBA team [...]
A love of beer is just one of the many requirements for operating a startup brewery, since brewing and drinking beer is only part of what you’ll be doing as a brewery owner. You should be aware that much of your time will be spent cleaning, as well as managing your books, sales, vendors and [...]
It’s no secret that one of the hardest hit industries during the pandemic was the restaurant industry. Many eateries have closed their doors since mid-2019 and others are barely hanging on, trying to make ends meet until things go back to “normal” again. Traditional lenders have long been wary about lending to restaurant owners given [...]
For the metal fabrication industry, which includes cutting, burning, welding, machining, forming, and assembly to create the final product — machines and structures — from raw metal materials, the journey to rebounding from 2020 is well under way. Like many other trades, the industry’s profitability relies on economic growth to thrive, and that, of course, [...]
Most people have some familiarity with personal auto loans, and while there’s quite a bit of overlap when you move into the area of business auto loans, there are some differences to be aware of, too. Business Auto Loans An auto business loan is, in essence, a form of equipment financing; you access low-cost capital [...]
Running a restaurant is one of the most difficult business ventures. Even during the best of times, the competitive nature of the restaurant industry makes it difficult for many restaurant owners to see consistent cash flow — and as we all know, many restaurants did not survive the pandemic, and those that did are still [...]
Like all other businesses that rely on face-to-face contact, the dental industry suffered in 2020 and is seeking to rebound this year. Vyne’s State of the Dental Industry Report 2021 surveyed 400 dental practices across the country to get their input on five focus areas: impact of 2020, hiring and the economy, technology, industry, and [...]
In the movie classic, “The Wizard of Oz,” Dorothy had it right: There’s no place like home. That’s especially true for older Americans — those aged 65+ — and that demographic is predicted to simply explode over the next 40 years, doubling in size over that timeframe. Most seniors would prefer to be cared for [...]
Given the wide range of services a neighborhood pharmacy provides — filling and explaining prescriptions, doing blood pressure checks, giving flu shots, answering health-related questions, and more — becoming an independent pharmacy owner may seem like an attractive business opportunity. Of course, you need to compete with heavyweights like CVS and Walgreens, so you may [...]
We’ve all faced the decision of whether to finance something or purchase it outright—maybe when buying a car or another big-ticket item. When it comes to your business, however, the stakes get significantly higher when you are considering whether financing or purchasing equipment is right for you. The answer to the finance or purchase question [...]
Cash flow is always a concern for any business, especially a small business. In a perfect world, revenue is always sufficient to cover payroll, materials, and other operating costs, as well as support future growth. But we all know the world isn’t perfect. There are many situations that might find a business owner seeking a [...]
Businesses that rely on sales for revenue — such as restaurants, bars, retail stores and salons — may have a hard time qualifying for traditional bank loans. That certainly doesn’t mean they’re out of luck when it comes to securing funds, and one alternative financing option to consider is a merchant cash advance. Merchant [...]
