MultiFunding is committed to making the complicated world of finance feel crystal clear. The Slingshot Café is where we let loose and explain the latest and greatest loan deals, trends in small business lending and how you can get financing for your small business. Check back often for new posts from Ami Kassar, MultiFunding CEO and columnist for The Wall Street Journal, Inc. Magazine, and The Sleeter Group.
The Slingshot Café is authored by Ami Kassar.
MultiFunding Launches New Website: VisibleLending.com
Providing An Open Directory Of Short-Term Online Business Capital Providers MultiFunding is pleased to announce the launch of its new partner site, www.visiblelending.com. The new site is an open directory of short-term online business capital providers. The VisibleLending website was created as a resource for both consumers and the online business lending industry. In a […]
Counseling Is Often More Valuable Than a Small-Business Loan
Borrowing may not be the best way to solve financial woes. The head of the U.S. Small Business Administration, Maria Contreras-Sweet, made a bold statement this week in an interview regarding the state of small-business lending and the SBA’s role in aiding small businesses. Ms. Contreras-Sweet said “the counseling is almost more important than the […]
Ami Kassar, WSJ Capital Insight: Improving Transparency for Alternative Lenders, Loan Brokers
Create standards for transparent pricing and reasonable penalties. My last post seemed to stir up some controversy. I’ve been labeled a “merchant cash advance industry hater” regarding my push for more transparency on short-term loans. I want to be clear I am not an opponent of alternative lending. I think there is, and should be, […]
Let’s Put Obama’s SupplierPay on Steroids
Big companies that pledge to pay small suppliers quickly should let consumers know. Last Friday was a great day for small-business owners and their employees. About two dozen major corporations came to Washington and joined in a commitment called SupplierPay to pay their small-business suppliers faster and help such firms find cheaper mechanics for financing. […]
Is Technology Really Driving Innovation in Small-Business Lending?
There have been important changes in the lending industry, but innovation is still a ways off. I recently read an article written by former Administrator of the U.S. Small Business Administration, Karen Mills, about technology’s evolving role in small business loans. In her article, she suggests that “New, non-bank lenders are using technology to take […]
How Liens Can Affect Your Small Business
Chances are, you’ve heard the word lien a few times, but do you really know what it means and the effect it can have on your business? A lien is a legal claim attached to a loan that acts as a security interest for a debt owed. The lender files a lien for the debt […]
Be Honest: Would You Recommend Your Product to a Friend
If the answer is no, it’s time to make a change. My column is typically about debt and lending issues. Today, I want to go on a limb and ask each entrepreneur a soul-searching question. “would you happily recommend your company’s product or service to your best friend?” If your answer is yes, you’re obviously […]
Many Small-Business Owners Don’t Understand the SBA
Confusion can lead borrowers to high-interest loans. The U.S. Small Business Administration has a marketing challenge : Many entrepreneurs don’t understand its lending program. A lot of the confusion arises when an entrepreneur speaks with a lender about the opportunity to get an SBA-backed loan. If the lender rejects the application and doesn’t provide financing, […]
How Taking a Cash Advance Loan Can Kill Your Business
About once a week in our work as loan brokers, we hear a heartbreaking story about a small-business owner or entrepreneur who made a borrowing mistake and is now desperately seeking our help. Sadly, sometimes, the damage is so deep that we have no tricks in our arsenal to help him or her. Last week, […]
Don’t Bring Fluff to Your Loan Officer, and Other Tips
Knowing your audience will greatly increase your chances of getting financing. As a business owner seeking either debt or equity financing, it’s important that you realize the vast difference between presenting to a loan officer and presenting to an investor. Loan officers and investors are two completely different animals. Loan officers mange risk while investors […]