The biggest financing issue that SMEs face is when banks reject their loan; SMEs are not aware they have alternative options. As we head into the homestretch of the Federal Election, I want to send a message to the successful leader that this issue hasn't been talked about yet, but should be part of their consideration moving forward.
Steven is the Co-Founder & CEO of FundThrough, an online lender that creates lines of credit against outstanding invoices so that small businesses can grow. Prior to FundThrough, Steven was an investment banker in New York at UBS and then at Centerview Partners. Steven sits on the board of the Loran Scholars Foundation where he is a member of the Investment Committee. Steven has an MBA from The Wharton School and a Bachelor of Commerce with Honours from McGill University, where he was a Loran Scholar.
While the concerns regarding the potential negative impact of certain high interest loans are legitimate, the debate has failed to consider the context in which high interest loans exist. It is too simple to label a loan "high interest" by looking only at the annualized interest rate. There are many other factors that determine the true cost of borrowing.
06/04/2013 05:15 EDT
While it took a few years after the financial crisis for financial services start-ups to get their business models refined to the point where they can come to market they are here now, and these alternative financial services technology companies are becoming viable and increasingly common sources of financing for entrepreneurs and small businesses.
04/17/2013 12:18 EDT
Everyone said I had to use LinkedIn when I was working to launch Zillidy. I currently have over 600 LinkedIn connections, which according to the website links me to over 10.5 million professionals. So why is LinkedIn such a powerful tool for small business? I believe it's because of the following reasons.
03/19/2013 12:29 EDT
BMO's recent decision to lower its mortgage rates and potentially trigger yet another mortgage price war among Canadian banks. This has triggered a debate among analysts and commentators about the merits of debt -- one outlining this week why "it's a great time for Canadians to be in debt."
03/07/2013 12:17 EST
The competition continues to intensify between Canadian bank and non-bank lenders to carve out their share of the $18.4-billion market for small-business loans of up to $250,000. But as entrepreneurs assess their options, here are 10 points to consider that, in addition to the headline interest rate, impact the total cost of borrowing.
02/26/2013 07:47 EST
There's been a rise in the pawn industry as people look to sell off personal items in order to do any number of things from pay off debts to maintain lifestyle, to grow new businesses where other financing avenues are not available to them. Here are five situations where pledging personal assets as collateral can save you money.
01/30/2013 12:12 EST
SUBSCRIBE AND FOLLOW
Get top stories and blog posts emailed to me each day. Newsletters may offer personalized content or advertisements. Learn more