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.
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 […]
Why the SBA Won’t Partner With Alternative Lenders
Taxpayers would be exposed to too much risk. In a recent Forbes column, the CEO of Lendio, posed the question: “Should the SBA Make Room for Alternative Lenders?” His argument was that banks aren’t the only place small businesses can go for capital anymore and that alternative lenders have a “big role to play in […]
Shark Attack : When Investors Smell Blood, Tell Them to Keep Swimming
A reality show finally gets it right when it comes to finding financing. On Friday night’s episode of Shark Tank, the two founders of Kodiak Cakes company approached the sharks in hopes of landing an investor for $500,000 in exchange for a 10 percent share in their company. Though the sharks were immediately impressed with the […]
Know the True Costs of Short-Term Online Loans
You may be getting on a high-interest treadmill that will be very difficult to get off Short-term, fast online loans have become popular among credit-hungry small-business owners still reeling from effects of the great recession from late 2007 to mid-2009. Hundreds of companies sell them. The pitch is simple and alluring: “We will lend you […]