From : U.S. Small Business Administration
Location : Washington , D.C.
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Question :
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Our chat time has ended. It's been a pleasure responding to your questions. You are welcome to contact the SBA District Office serving your area at any time. To find its location go to our website at www.sba.gov.
THANKS FOR PARTICIPATING!
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From : Dawn Callahan
Location : Chicago , IL
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Question :
Thanks for the info! All very helpful! For those of you starting a business, the SBA has been my best friend! Extremely helpful!! USE THEM!!
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Dear new best friend - thank you we are here to help.
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From : jan wellborn
Location : deep gap , nc
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Question :
How do I go about applying for a small business credit line thru government agencies without using my personal information?
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Any credit whether from government or private lenders will require some disclosure of personal information.
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From : Sheetal Bayhur
Location : Columbus , Ohio
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Question :
How do small businesses(in spite of having good assets in Balnce Sheet) convince Banks to not include Personal Guarantees when extending Line of Credit or Letter of Credit?
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Sheetal- It is important for small businesses to have a complete and accurate business credit profile so that banks and other creditors can make informed decisions about your business and separate your business credit from your personal credit.
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From : Terrance
Location : Fayetteville , Georgia
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Question :
I just started a business account and would like to know how to create good business credit? I understand establishing a good paying history, what else is there?
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M Make sure that your business profile is accurate and complete - history of company, financial info, payment experiences etc.
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From : Alice Narcisse
Location : ,
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Question :
How do I get started
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THe best source is to begin with informed knowledge and critical tools to begin your endeavor. Go to www.sba.gov to see all the programs, services and information available to you. This will be your roadmap.
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From : linda piunti
Location : merrillville , indiana
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Question :
is it true that you dont have to file fed and state taxes if making less than 13,000 dollars during the year?
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Please contact your tax advisor or the IRS for the appropriate answer.
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From : Tokhir Pulatov
Location : Panama City Beach , Florida
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Question :
Hello Mr. McGeehan
I trying to open pizza place (just delivery), and now i'm working on my bussines plan, but credit score is not that much good, but i relly prepared myself, to this bussines, can get approve? and i bought new car few weeks ago, and i'm working on my home loan too, is that better if i stop my home loan, i'm sorry if couldn't explane all my qustions, please if you have a chance to anser my qustion, i'llbe glad
thank you so much
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Tokhir- A a Smart First Step you should take time to establish your D&B business credit profile by following the link below: https://eupdate.dnb.com/default.asp?partnerid=SBA
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From : MADELINE CRESPO
Location : ORLANDO , FLORIDA
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Question :
HOW CAN I STABLISH CREDIT FOR THE FIRST TIME FOR MY COMPANY, WHO WILL GIVE MY COMPANY CREDIT USING MY EIN NUMBER NOT MY SS NUMBER?
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Hello Madeline: You can establish your business credit report by following the link below: https://eupdate.dnb.com/default.asp?partnerid=SBA
Remember the First Smart Step in establishing business credit through the D&B and SBA educational partnership is to establish a business credit report. This is a dedicated site by which you can provide business information to help establish a business credit report.
Many creditors who understand the details of you business by reviewing your business credit report and know you are applying for credit as a business, will request your DUNS number or your EIN number and in cases where that want a personal guarantee will use your SSN to check your personal credit report.
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From : Greg Mesa
Location : Hendersonville , NC
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Question :
Have been in business x 4 yrs, my partner & I are personal guarantors on ~$200,000 in equipment leases. Solid payment history x 4 years. How do I get this excellent payment history listed on my personal credit file?
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Personal credit references are on your personal credit report and business credit references are on your business credit report. The coding is different for each and it is unlikely there will be overlap between the two.
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From : Sheetal
Location : Columbus , Oh
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Question :
Does D&B charge to see your own business rating?
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No. Go to https://eupdate.DNB.com
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From : sang nguyen
Location : COLUMBUS , ohio
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Question :
I have question about business financial
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Not sure what your question is. Best bet is for you to contact your local SBA District Office. Go to www.sba.gov and clip on the national map.
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From : Delois Jennings
Location : charlotte , nc
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Question :
Why when you call in to get a D&B number for government registration, customer service does not give you customer service, but get upset with you and angry because you are only calling for a free D&B therefore i was told that i could not get one unless i had a grant that i was applying for. It has been 6 weeks and i still don't have one. Or they keep transferring you to different people. Why is this?
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If you area busienss filing for a DUNS number as part of a government registration process [contractor/grantee] please use the following site: www.ccr.gov.
From that site there is a link to a D&B web form for DUNS number request. In addition, for US businesses you can contact the customer service number between 7 am - 8 pm Central time for a DUNS number request via the phone.
Otherwise you can establish or update your D&B report via the following site: https://eupdate.DNB.com/default.asp?partnerid=sba.
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From : Lisa Rivera
Location : Ossipee , NH
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Question :
I have a small commericl floor cleaning and office cleaning business. eaning about 140k a year. I used an equity line of credit to start the business. the flex rates are killing me. Pluse I don't want to time my house up with the business. I am thinking of applying for a busines loan. I have been in business three years. What advise could you offer me. I am always shuffeling money around to keep up with all the expenses. I have started using a credit card for some purchases of supplies and such. I usually have been paying cash for everything I need. so I never have a cash flow. have a good credit rating. however I hate borowwing money. I could really use some advise on what direction to take with this. before I just go out and borrow money. The business is growing and doing well I have three employees, pluse myself. I am great at the work but not so great on handeling the finances of the business. thanks or any help you could provide me.
Lisa Rivera
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Congratulations on doing so well. Most businesses at some point in their business life cycle can use some retooling help. Contact a counselor from your Small Business Development Center or a SCORE counselor, they offer free face to face counseling. Go to www.sba.gov/ed for connections.
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From : Yolanda Harris
Location : Detroit , MI
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What steps would a new business do to create good trade lines for their business to get approved for loans?
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Contact the SBA Office of International Trade. www.sba.gov/OIT.
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From : oluwafemi
Location : brooklyn , ny
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Question :
daer sir ,
my name is femi okeowo, the reason for my typing you isthat i have an ideal to craete my bussiness . but i just need some assistant in upgrading and finance need for me to be abble to perform and do well
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Contact your local SBA District Office. Go to www.sba.gov and click on the map.
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From : Hotlanta
Location : Atlanta , GA
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Question :
Mr. McGeehan,
My observation is that bankers and vendors look at the credit history and credit score of individual small-business owners and pay little attention to the corporate credit stature. Even with mature businesses, the business owner must pass muster, rather than the corporation or LLC.
Do you differ with what I see out there?
Thanks for volunteering your expertise.
Hotlanta
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Hotlanta- When is comes to small business lending both the personal and business credit is important until you have established relationships and a proven business track record.
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From : ELIZABETH ORENGO
Location : SOMERPOINT , NJ
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Question :
IS THERE ANY GRANT TO START YOUR ON CLEANING BUSINESS
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Check out www.grants.gov, although generally speaking there are not a lot of federal grants for this type of service.
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From : Gary T. Allen
Location : Columbus , Ohio
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Question :
Where is the webchat? How do you access the webinar?
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Gary- The webinar can be accessed via the following link: http://www.sba.gov/services/training/onlinecourses/index.html
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From : Charles Moon
Location : Clovis , NM
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Question :
Does the SBA offer small group discussion in our area of the country where veterans considering self-employment options can get together and share local resources, experiences, information, etc.
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What a great idea! SBA is very engaged with veterans and active military. For example, we recently launched a special loan program called Patriot Express. Please contact the SBA Veterans business speciliast in the Albuquerque SBA office.
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From : Efrain Salazar
Location : Greenwood Lake , New York
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Question :
I'm interested in export products from USA to Colombia (South America)
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SBA has programs and services for US exports. Check out www.sba.gov/OIT. This is our dedicated office for international trade.
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From : brittany birge
Location : El Mirage , arizona
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Question :
how can i find the grant opprtunities for small business.
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Go to www.grants.gov
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From : Michael Morancie
Location : HEMET , Ca
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I received a 100k line of credit from BofA using Business Credit. I defaulted on the loan and the loan was sold to a debt collecting company. I wasnt registered with D&B at the time. How will that affect me applying for business credit in the future
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Michael- Have you taken steps to repay the loan/line of credit , which you defaulted on? Defaulting on a personal and/or business loan could negatively impact both your personal and business crediworthiness the next time you apply for a loan/line of credit resulting in possibly higher interest rates or as severe as being declined.
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From : David Kirmse
Location : Davie , Florida
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How does a small business owner that has just started out establish without using his own personal credit.
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Go to sba.gov to our site on personal and business credit for more information.
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From : Irma
Location : Lee , Va
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I have submitted numerous requests for Grant Funding. It seems that every place one tries to apply, it is another gimmick to try to get you to buy anyother book for (how to apply for funding). Please I am a bilingual RN. trying to start a business. CAN YOU HELP ME. Thank You
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There are federal grants that may be available. Go to www.grants.gov.
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From : James Anderson
Location : wildwood , florida
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Question :
I have a small garage door business here in Florida we service and install garage doors however business is very slow because of the housing market how can my company go about getting funding to expand .
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SBA has a variety of financial assistance programs and services. Check out www.sba.gov for financial assistance.
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From : Tanisha
Location : ,
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How does a business obtain credit based on its activity and not owners credit - what can a small business do to keep their personal credit out of business and funding requirements
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The First Smart Step is establishing business credit through the D&B and SBA educational partnership is to establish a D&B report. The dedicated site to establish your D&B report is https://eupdate.dnb.com/default.asp?partnerid=SBA
You should also review the following site regarding personal vs business credit.
http://www.sba.gov/services/financialassistance/basics/personalvsbusiness/index.html
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From : Horacio
Location : miami garden , fl
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Question :
I need a loan
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SBA may be able to assist you. Go to www.sba.gov and check out the info on financial assistance. There should be something that is of benefit to you and then contact your local SBA office in Miami.
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From : nikki
Location : port richey , fl
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Hello, i woul like to ask you how to apply for woman own the small business grant may you please help me
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Congratulations on your interest in small business. Women are starting business and succeeding like never before. There are no grants, but there is free assistance through the Womens Business Centers and the many financial assistance programs we offer. Check out the women's page at www.sba.gov/ed.
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From : Tracey Chambers
Location : memphis , tn
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is there a grant especial for ex-offenders
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There are no federal grants to start or grow a business. Owning and operating a small business is a great way to establish your own economic self sufficiency. Check out SBA services with your local SBA District Office located in Nashville or as a first step go to www.sba.gov.
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From : Mittie Grayson
Location : Springfield , New Jersey
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What is the best way to maintain separate personal and business records before and right in the beginning of the business start-up? Using personal credit and bank accounts before the business accounts are set up and are available is unavoidable in most cases. What is the best way to satisfy record-keeping requirements for federal, state and local purposes?
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Remember the First Smart Step is establishing business credit through the D&B and SBA educational partnership is to establish a D&B report. The dedicated site to establish your D&B report is https://eupdate.dnb.com/default.asp?partnerid=SBA
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From : Aishia
Location : Dallas , Tx
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Where do i find the free money thats constantly being givin away?......now thats the kind of "help" I'm talking about.
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Unfortunately there is no free money for business startup and expansion, contrary to what you and we often hear. That being said, SBA offers easily accessible financial assistance programs, services and a variety of loans. If interested, contact your SBA District Office which is located right in Dallas.
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From : Brenda
Location : Syracuse , New York
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Do assist new non-profit agencies establish business credit and if so what are the 1st steps?
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SBA does not provide direct service to non-profit agencies, our focus is small businesses. However, there may be good info on www.sba.gov that you will find of benefit.
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From : eva
Location : san diego , ca
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Is there a formula regarding the size of the business and the amount of credit extended to customers? What kinds of fiscal parameters?
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Hello Eva: Each creditor (e.g. bank, insurance company, etc…) will evaluate each small business differently based on the industry you serve and the number of years in business, along with some other factors, weighed against the amount of credit you are requesting, It is imperative to have a strong business credit report so your creditors can make informed credit decisions about your business. You can establish your take the time to establish your D&B business credit profile by following the link below: https://eupdate.dnb.com/default.asp?partnerid=SBA
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From : Tanisha
Location : ,
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if you are in business already can you obtain SBA loans for refinancing current loans?
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It would depend on the nature on what you need. Best bet is to contact your local SBA District Office loan specialist. You can find the location by clicking on the map on www.sba.gov
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From : Rodregus McFarland
Location : Lawrenceville , Ga
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How do I establish business credit without a personal guarantee?
rodregusmcfarland@yahoo.com
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Answer: Hello Rodregus: It is important to establish business credit so creditors have a strong business background on you and your firm by which to evaluate and make decisions instead of relying on your personal credit. Please refer to the link on the SBA website to help you better understand the importance of business credit vs. personal credit.
http://www.sba.gov/services/financialassistance/basics/personalvsbusiness/index.html
In addition, take the time to establish a business credit profile by following the link below: https://eupdate.dnb.com/default.asp?partnerid=SBA
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From : JONIECE JOHNSON
Location : POMPANO BEACH , FL.
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Question :
I HAVE A DUNN # HOW DO I GET A REPORTING SCORE, WITH D&B. WHAT IS YOUR REPORTING PROCEDURE
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Answer: Hello Joniece: Since you already have a DUNS number, you can use the link below to verify all of the information in your D&B is current and accurate, as well as update your report if necessary. It is important that you have adequate information in your D&B file, in order to establish a rating/score. The site is https://eupdate.dnb.com/default.asp?partnerid=SBA
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From : Alice Narcisse
Location : Lake Charles , La
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Question :
How do I started with the small Business plan
so Ican get a grant
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SBA does not provide grants to start or grow a business. We offer free assistance in development a business plan through SCORE, Small Business Centers and Womens Business Centers as well as financial assistance. All this information is available on our website www.sba.gov.
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From : janet hunt
Location : burlingame , kansas
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why is it so hard for women to start a business or get a small business loan to start a business?
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Women are actually starting more businesses than ever before. SBA offers a variety of programs and services for women business owners, such as technical and management assistance through the womens business center. Check out www.sba.gov/ed for women's programs and access to good info on financing.
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From : Gonzalo Jacome
Location : Bronx, NY , NY
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Question :
I would like to know if i open a small restaurant and i intall a griddle in the store. Would i need to also install a grease extractor? If so, what permit from NYC and state would i need. thank you ivanjacome2003@hotmail.com
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Your question can best be answer by the NY state office handling business permits such as the department of licensing or the small business office.
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From : fernando diaz
Location : norwalk , ct
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Question :
how does a young business less than 2 yrs establish dun and bradstreet credit?
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Answer: A business regardless of the number of years in business, size or experience can establish a DUNS number at D&B via the link below.
Remember the First Smart Step is establishing business credit through the D&B and SBA educational partnership is to establish a D&B report. The dedicated site to establish your D&B report is https://eupdate.dnb.com/default.asp?partnerid=SBA
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From : Brenda
Location : Syracuse , New York
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Can you advise what are the 1st steps after obtaining D&B number to apply for business credit and setting up vending accounts?
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Certainly having established a credit file which includes obtainings a Duns number, after establishing the file ensure the info is correct and current. Then notify your vendors or your lender or creditors that you have a Duns number and give to them and you are off and running.
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From : Tina Beelel
Location : Hayward , Wisconsin
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How do I start establishing business credit when my business is in its infancy?
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Hello Tina, you can establish your business credit report by following the link below: https://eupdate.dnb.com/default.asp?partnerid=SBA
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From : MADELINE CRESPO
Location : ORLANDO , FLORIDA
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Question :
WHICH WAY OF CREDIT WOULD YOU SUGGEST TO A START UP BUSINESS, WHO WOULD GIVE ME CREDIT?
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Check out your option w/ sba local office at www.sba.gov and click on the usa map.Your sba office is in jacksonville FL
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From : ZOHRA
Location : FALLS CHURCH , VA
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Question :
I WANT START A SMALL BUSNIESS I WANT INFORMITION ABOUT IT.I WANT SOME ONE TO GUIDE ME.
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SBA has all the program and services you need please view all of the SBA resources at www.sba.gov
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From : U.S. Small Business Administration
Location : Washington , D.C.
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Question :
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Ellen and I wecome you to this chat. D&B and SBA are excited about being here today to help all of the interested small businesses. We are delighted to be in partnership with the SBA helping to serve the needs of small businesses.
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