University of La Verne SBDC Small Biz Blog

    So you're applying for a small business loan, and you have to put together everything you need for the application. Whether you're a first-time borrower or a seasoned veteran, this information is crucial to getting your loan approved. The number of required documents can get a little daunting but in this article, I’ll list your requirements for your loan package, so you get your loan funded. 1. Business Plan When applying for a loan most lenders will require a business plan that describes your cause management and sales strategies. some lenders may only require financial projections if you've been in business for some time. a business plan will be required for all new companies to apply for financing. You can get help with creating your business plan from your local Small Business Development Center like us here at the University of La Verne SBDC. 2. Business Financial Statements Lenders will generally want to see business financial statements for the past 3 years an

  If you're a prospective business owner considering buying a business, this webinar is a must-attend! Our experts, Ed Pendarvis and Malcolm Geffen, will show you the ropes of buying a business, covering everything from the initial research to sealing the deal. Discover insider tips and tricks on how to negotiate with sellers, evaluate business performance, and identify hidden risks. With this valuable information, you'll be able to confidently pursue the perfect business opportunity and turn your entrepreneurial dreams into a reality. Ed Pendarvis is the founder and chairman emeritus of Sunbelt Business Broker Network LLC, the largest small business brokerage network in the world with three hundred plus offices in the US and thirty foreign countries. Malcolm has an established career as an entrepreneur with a strong background in professional management and corporate turnaround work. As an entrepreneur, he has founded, acquired, and operated a number of companies where he was

  Do you have a passion for photography and dream of turning that passion into a thriving business?  In this video, I'm going to show you how to start a photography small business. I'll share actionable tips on everything from starting your business to marketing your work. So if you're ready to turn your passion into a reality, let's get started.  From portrait and wedding photography to commercial and editorial work, a photography business allows you to express your artistic vision and specialize in the types of photography that you enjoy most. So whether you're a seasoned pro or just starting out, this video has something for everyone. Get ready to turn your love of photography into a thriving business and start capturing beautiful moments that will be treasured for years to come.   Business Planning When starting a photography business, it's important to first develop a solid business concept that outlines the services you plan to offer. This includes determ

Starting a business can be challenging, especially when you don't have a lot of money or investors. But with the right resources, you can still make your entrepreneurial dreams a reality. In this article, we'll explore several options for bootstrapping your business, from using special tools to asking friends and family for help to applying for microloans and SBA loans. We'll also cover grants, equity crowdfunding, and other financing options. Whether you have a simple business idea or a complex one, this article will help you find the best way to fund your venture and get your business off the ground. With a little bit of hard work and creativity, you can achieve your entrepreneurial goals and build a successful business. Bootstrapping If you want to start a business but don't have a lot of money or don't want to go to a bank, there is another option. This can work well for people with simple business ideas, like a consulting business or a small eCommerce store. If

Ready to start your small business? Don't forget the licenses and permits! They can make or break your success. In this video, I'll show how to navigate the red tape with valuable tips and get on the fast track to entrepreneurship. Path to Startup Biggest issue when talking with clients about the licenses and permits they need to start up is the order to do them in. Let’s go over the order of operations before diving into each one: Business entity Formation When you start a business, you have to choose a business entity formation. This is how your business will be legally recognized. The most common types of business entity formation are sole proprietorships, partnerships, limited liability companies (LLCs), and corporations. Each of these options has its own advantages and disadvantages.  Sole proprietorships are the easiest to form, but you will not have liability protection.  Partnerships are similar to sole proprietorships, but they involve multiple owners.  LLCs offer lia

  There are tons of decisions and tasks to consider before starting your own business, and it is easy to overlook important items along the way. But what if I told you there was a simple checklist you could use to confidently and easily navigate the start-up process? In this video, I'll go over a business start-up checklist that includes everything from developing an effective plan to building your brand and marketing your products or services. Let's dive in. Download the checklist and follow along Business Plan A business plan is a document that explains how a business will operate and be set up before it begins. It is useful for entrepreneurs to guide their startup or to get funding from lenders. The plan generally consists of an executive summary, a marketing section, a team section, and startup costs.  It is important to include a market analysis and target audience to show that you understand your customers, a product description that outlines its features, benefits, and p

  Domain Name (Google Domains) What is a Domain A domain name is a unique address that identifies a website or online service, and it is used to locate and access resources on the internet. A domain name, website, and  URL are not the same thing.  A URL or   Uniform Resource Locator is a complete web address, including the domain name, used to access a web page like: http://www.stasiasbakery.com.  The domain name is What comes after “www.” in a web address and after the “@” in an email address such as stasiasbakery.com.  The website is the only content people see and interact with when they visit pages associated with a domain name.  Having a domain name is important for showing up in search results. When customers search online, your domain and website can show up in the search results. Brand building, by controlling how your business shows up on the web. With a domain, you own how your business shows up on the web. Professionalism: Today’s consumers expect businesses to have a websit

Are you a professional looking to start your own business but don't know how to set it up? If you are a professional like a doctor, lawyer, or accountant then you may need to form a professional corporation. In this video, I’ll explain what a professional corporation is, who needs to form a corporation, and how to set one up .  What is a Professional Corporation? So, what is a professional corporation? According to the Moscone-Knox Professional Corporation Act: "A corporation organized under the General Corporation Law or pursuant to subdivision (b) of Section 13406, that is engaged in rendering professional services in a single profession, except as otherwise authorized"  CALIFORNIA CORPORATIONS CODE, §§ 13400-13410 This means anyone who is licensed under the provisions of the Business and Professions Code as a professional needs to form and operate the business as a corporation. If you are new to the business, a corporation is a separate business entity you want to lear

If you have a passion for fixing things and enjoy working with your hands, starting a handyman business may be the perfect way to turn your skills into a profitable business. Starting a handyman business can be an excellent opportunity for those who enjoy working with their hands and want to be their own boss. With the demand for home repairs and renovations on the rise, starting a handyman business can be a lucrative venture. In this guide, we'll walk you through the essential steps to get your handyman business up and running successfully. Business Planning One of the first steps in starting a handyman business is identifying your target market and competition. Your target market includes the specific group of people or businesses you will be serving with your services. This may include homeowners, property managers, real estate agents, and small business owners. Another important step in starting a handyman business is creating a business plan and setting goals. Your goals shou