I usually don’t provide referrals, but in this particular case it is definitely warranted. Karen jumped through hoops with multiple alternatives until we came up with a solution that provided what we needed. At one time i thought we were at a dead end, but learned that Karen continued to pound away until the right solution surfaced. If you need someone to assist up front with your SBA loan, Karen is a perfect choice.


Dave Crenshaw is the master of building productive leaders. He has appeared in Time magazine, USA Today, Fast Company, and the BBC News. His courses on LinkedIn Learning have received millions of views. He has written four books and counting, including The Myth of Multitasking: How "Doing It All" Gets Nothing Done, which was published in six languages and is a time management bestseller. As an author, speaker, and online instructor, Dave has transformed hundreds of thousands of business leaders worldwide. Find out more at DaveCrenshaw.com.

1. You can do it because others are doing it. Think the country is dominated by big businesses run by people with MBAs? Wrong. 99 percent of businesses in the US are small businesses, and they employ 80 percent of the population! You don’t need any “special” training to run a business. You just need an idea, the desire to learn and adapt, and the ability to take action!
Becoming a small business owner has unique challenges and rewards that aren’t right for everyone. You must be driven, disciplined and able to identify a product or service that people need — one that they will pay enough for to allow you to live comfortably. You have to develop marketing skills and be able to find your own work, because it won’t fall into your lap until after you’re well established. Business owners need to understand how to budget, keep records and handle small business taxes. They must familiarize themselves with employment laws if they want to hire staff. They also need a plan for protecting their business and everything that’s tied to it if something goes wrong. (For more, see Are You An Entrepreneur?)
It’s often easier to get started with a franchise compared to an independent business because a franchise comes with a proven concept, brand recognition, and customer base. Although the success rates of individual franchises vary widely, as a whole, franchises perform better than independent businesses in the long run. According to a report by the International Franchise Association, about 12,000 franchises open their doors every year!

Online business lenders are a relatively new option, and they might provide more choice than you can find locally. You might also find it easier to get approved – these lenders are more interested in funding loans and growing than conservative banks and credit unions. Online lenders might also move faster than traditional lenders. That said, they’re not looking to lose money, so the loan still needs to make sense.
Since there is no collateral for the SBA Express working capital loan, how do they determine who qualifies?  Credit is a primary factor when lending working capital without collateral.  Generally, you should have less than $15,000 in credit card debt, 10% of the loan amount as cash on hand and be able to show a 10% cash injection into your business.  Like a mortgage, these can not be borrowed funds, however gifts from family is usually acceptable.  Lastly, you need to show “comparable credit” comparable to the amount you wish to borrow.  Typically, anyone with a mortgage past or present would qualify.  Some exceptions are made for military veterans.
A lender is primarily concerned about the ability of the borrower to repay the loan. To the extent that a security interest can be given to the lender on company assets (company equipment, property, accounts receivable, etc.), the borrower should be able to increase its chances of getting a loan on favorable terms. Some lenders may insist upon the personal guarantee of the principal owner of the business. That is best avoided if possible as it puts the owner’s personal assets, and not just the business assets, at risk.

Dave Crenshaw is the master of building productive leaders. He has appeared in Time magazine, USA Today, Fast Company, and the BBC News. His courses on LinkedIn Learning have received millions of views. He has written four books and counting, including The Myth of Multitasking: How "Doing It All" Gets Nothing Done, which was published in six languages and is a time management bestseller. As an author, speaker, and online instructor, Dave has transformed hundreds of thousands of business leaders worldwide. Find out more at DaveCrenshaw.com.

ApplePie currently has partnerships with 42 franchises, such as 7 Eleven, Dunkin’ Donuts, Jimmy John’s Pizza, and Wetzel’s Pretzels. Other franchise brands can get loans through ApplePie, though the process might take a little longer. ApplePie offers loans for both new and existing franchises, including franchise startup loans, loans to purchase an existing franchise, franchise equipment loans, franchise refinancing loans, and more.
Outside of the typical startup costs, there are different costs that are unique to franchise businesses. First is the franchise fee, an upfront fee to the franchisor for the right to use the company’s branding and model. It can be paid in a lump sum or in installments, and varies widely by industry and company. It will likely to be at least $10,000 – sometimes substantially higher – and is typically nonrefundable. Franchisors are also likely to charge recurring royalty and marketing fees – usually arranged as a percentage of sales at the franchisee’s store – usually 4 to 8 percent for royalties and 2 to 4 percent for marketing.

Starting any business has a price, so you need to determine how you're going to cover those costs. Do you have the means to fund your startup, or will you need to borrow money? If you're planning to leave your current job to focus on your business, do you have some money put away to support yourself until you start making a profit? Find out how much you're going to need.
Market research is important because it will help you figure out whether or not there is demand for the service you’re offering or the product you’re selling. It will also help you when it comes time to write your business plan, especially if you’re pitching an angel investor or a venture capital firm. They will want to see there’s a market for your idea, otherwise, it won’t scale as rapidly as they need it to in order to make a return on their investment.
Branding, services, promotions, products, pricing, prints, blogs, advertising, research and social media -- all of this is marketing. With all the marketing options out there, it can be difficult for small businesses to know what to do. Marketing is a concentrated effort to do push your brand across a variety of platforms and hope that enough makes it through to your customer. Customers need to hear your message several times, so brand, brand, brand! Here are some simple steps to help you market your small business:
Karen Newell at Key Commercial Capital exhibits an exceptional level of professionalism and grit, which is truly refreshing in an industry where both qualities are often lacking among small business funding resources. I love working with Karen because I can rely on her to provide timely, accurate and succinct updates about my funding candidates. I enthusiastically recommend Karen for any and all of your business funding candidates!
Assignment and subletting. Startup companies should negotiate enough flexibility in the assignment and subletting clause to allow for mergers, reorganizations, and share ownership changes. Watch out for a clause that says a change in more than 50% of the company’s stock ownership will be deemed an assignment that is prohibited without the landlord’s prior approval. As your company grows and new people invest in it, this clause can be inadvertently triggered.
Stock Option Plans are an extremely popular method of attracting, motivating, and retaining the best employees, especially when the company is unable to pay high salaries. A Stock Option Plan gives the company the flexibility to award stock options to employees, officers, directors, advisors, and consultants, allowing these people to buy stock in the company when they exercise the option.
Getting money in advance of doing any business is called “mobilization capital.” This means you are looking for capital to help start a business and don’t have customers yet. This is also known as unsecured lending and is typically very difficult to secure. Your best bet in these situations is to try and raise seed capital investment aka friends and family investors. If your hot idea is really as good as you think, you should be able to find friends to join up and start up a company.
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A microloan is similar to a traditional bank loan, but they often come from alternative lenders like credit unions. A microloan tends to be easier to get for those with subpar credit because the loan amounts, as the name indicates, are small, typically fifty thousand dollars or less. Because of this, the credit requirements for these loans are also lower. If this amount of funding suits your needs, this is a good option. The SBA has a microloan program, and there are several alternative lending options such as Prosper and Zopa.
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