Applying for an SBA Loan vs. Funding From an Alternative Online Lender

Found this post over at and thought it was super helpful.

Getting a business loan of any kind requires some planning.

By gathering the required information and documents ahead of time, the whole process can go easier, so we designed a free, downloadable checklist to navigate the process.

Start by doing a little research on the kinds of documents required for all different kinds of business loans and carefully consider the options.

You can apply for a loan directly from the federal government through the SBA, or Small Business Administration. Traditional banks and alternative online lenders are also great options. Alternative online lenders, due to speed and the ease of their application process, are becoming increasingly more popular.

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Picking a Company Name

Picking your company name is a huge step. Here’s some things to keep in mind when going through the process.

Keep it Simple

Shorter is better. Two syllables would be ideal, and avoid using hyphens or replacing an “S” with a “Z”.

Get the .com

There are a ton of domain extensions now, but you should really try to land on a name that has the .com version available (either as a fresh registration, or able to be purchased from the current owner). If your company does become successful on a lesser TLD, you’ll end up shelling out way more cash later for the .com

Don’t Limit Yourself

Pick a name that’s “generic” enough to allow you to expand your product line or service offering as you grow. “Amazon” started as just a book store. Imagine if they were and needed to go back and buy later – it would have gotten way more expensive since the seller would know they’re already successful and could afford a higher price.

Trademark Your Name

Once you settle on a name, get a trademark for it before actually launching. There’s nothing worse than launching a business, then getting a legal notice months later that you’re infringing on someone else’s trademark. If you don’t want to do the legwork of making sure your name is clear, you can have a trademark attorney do it for you – the all in cost between the lawyer fees and the government filing fees will be in the ballpark of $800

Say it Out Loud

Say your prospective name out loud – either to yourself or close friends/family. You’re going to be saying this name a lot in the future, so you better like it!


Sometimes you need help – these name generators should help spur some creativity.



What Are The Benefits Of Starting A Small Business

There are many reasons why people are attracted to starting their own business. Freedom, the ability to create something that will grow, and the potential to make more money are a few of the most common reasons. Many people have a dream of owning a specific business, but very few will take that leap of faith and actually go ahead and set it up. Starting a big business that requires major overheads and investment is beyond the means of the majority of ordinary people; however, starting a small business is within the reach of almost everyone.

small business (1)Starting a small business means you are able to get onto the business ladder without needing to invest an enormous amount of money or make any major commitments. It also means you can get it set up and started much quicker – which in turn means you will be able to start making money sooner. The risk for starting a small business is significantly lower than the risk involved in opening a bigger business. Small businesses can be run from home – which lowers the amount of overheads dramatically.

With no extra rent or utility bills, and the ability to use your existing phone, computer and internet set-up you are able to get your business started with no real risk. Running your small business from home also means you do not have the extra expense of commuting. A small business can generally be run by just one or two people, which means no need to hire extra staff, deal with payrolls and other complicated areas that larger businesses face.

A small business is easier to run and control for one person. It is easier to keep track of everything that is going on in your business when it is smaller and you are running it from home. Starting your own small business is the most effective, safest way to take your first step to independence and freedom.

Small Business Marketing Tips