Articles written by Neil Berdiev
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  • COMING SOON -- "While you were too busy to communicate
    with your lender..." This article may come as a surprise to many
    business owners and reading it will save you some unpleasant
    moments that can cost you financing.

  • COMING SOON -- "Can a lender discriminate against my loan
    request or my company?" This article will lift a curtain over the
    topic most people are not interested in discussing honestly.

  • "Minority Business Loans... Do they really exist?" -- A number of
    my readers have asked me this question, and I thought it was the
    time to cover the issue. If you are one of those people who think
    that minority business loans exist, take a look at this article. It
    may change your mind. The article will also talk about where to
    find loan programs that favor minority owned businesses.

  • "How Long Does it Really Take to Secure Business Loans?
    Myths and Reality" -- Many business owners mistakenly believe
    that loan approval is a quick endeavor. In reality, there are
    several steps from the moment you approach a lender with a
    request for financing until your loan is actually funded and you
    can receive cash. This article should help you better understand
    the steps involved so you can plan accordingly.
Resources

  • "Lots of Lenders but no Loan Approval" -- If you have
    been in business for at least a short while, you have probably
    had many lenders knock on your door, send you literature,
    call you, and try to solicit your business in a variety of ways.
    The longer you are in business, the higher the marketing
    traffic. When you respond to those solicitations, you may be
    unpleasantly surprised if you loan application gets rejected.
    Read this article to understand what lenders are looking for
    and how to manage this, at times, annoying traffic.

  • "Outgrowing Your Bank. When it is Time to Go..." -- As
    your small business grows, you may end up outgrowing your
    current lender. Although it does not happen often, looking for
    a new lender may not be something you are prepared to do
    and have time and knowledge for. This article should help you
    handle those situations better and find the lender that fits your
    and your company's demands.

  • "My Lender is Leaving. What should I do?" -- Many small
    business owners may find themselves in this situation, but
    often are not certain what to do. Follow the steps suggested
    in this article to make sure that you know what questions to
    ask and how to make the decision that will be in the best
    interest of your company.

  • "Insider's Point of View: When to Apply for a Loan &
    Pros and Con of Lines of Credit" -- Many small business
    owners believe erroneously that lenders grant loans to business
    es that experience financial difficulties, if they have been loyal
    customers. This first article of the Insider Series will discuss
    whether there is the best time to apply for a loan and benefits
    and downside of lines of credit.

  • "Business Plan as a Critical Factor in Securing
    Financing" -- Not every successful business had a business
    plan, but it is certainly a valuable tool in securing financing for
    small business owners. Should you have one? It depends.
    Read this article to understand what it is you need to focus on
    and how to avoid some of the common mistakes small
    business owners make.

  • "Common Reasons for Defaulting on Business Loans" --
    Will you be surprised when you make loan payments in a very
    timely manner and have never been late, but your lender tells
    you that the loan is in default? Of course you will. This article
    will walk you through several scenarios that commonly
    constitute loan default -- something you are probably not
    aware of.

  • "Personal guarantee in Small Business Loans; Questions
    and Answers" -- This article contains answers to some of the
    most common questions I receive in regard to personal
    guarantee. If you'd like to ask a question related to personal
    guarantee or other issues of small business loan financing,
    drop me an email.

  • "Personal Guarantee in Small Business Loans; Myth and
    Reality", If you are a small business owner, chances are you
    do not want to provide a personal guarantee and do not
    understand why lenders need your personal guarantee as a
    prerequisite for a small business loan. Read this article to
    better understand why lenders require guarantee and what
    options you have.

  • "Collateral in the 21st Century; What You Must Know",
    collateral or rather lack of it often precludes small businesses
    from securing loans. Read this article to learn how you can
    work with lenders either to utilize your existing collateral and
    get your loan requests approved or to better understand your
    options in the absence of sufficient collateral.

  • "Unveiling the Mystery of Cash Conversion Cycle", this is
    a crucial concept in showing lenders that you understand
    your  business' cash flow and building credibility. Knowledge
    of cash conversion cycle will help you prepare a well-
    formulated loan request, make an impression on lenders, and
    ensure that your business' cash flow is allocated prudently.

  • "Finance Your Business Needs with Proper Loans", this
    article will help you avoid mistakes that are common among
    small business owners. Knowledge and application of this
    material can allow you to allocate your business' cash flow to
    ensure timely loan repayment and minimize loan payment
    impact.

  • "Do You Need to Tailor Your Business Plan to a Banker's
    or Investor's Expectations?" -- Do you need to? Probably
    not. Would you want to? Absolutely! During my commercial
    lending career I have seen so many business plans that were
    written for anybody but the financier. Here are a few ideas on
    what it is we, finance people, look for. Use this information to
    your benefit.

  • "Revenue Concentration - Blessing and Danger", revenue
    concentration can reduce lenders' willingness to give you a
    loan and may even cost you loan approval. However, there
    are steps you can take to reduce potentially negative impact of
    concentrations, and, as an added bonus, make lenders
    comfortable with lending to your company.

  • "Know Your Numbers!", small business owners frequently
    lose points by not being familiar with their companies'
    financial statements. You are not expected to have advanced
    knowledge of finance, but you are expected to know what is
    behind the numbers in business financial statements.

  • "Know Your Numbers! (exercise)", a extension of the
    previous article. It will walk you through an example which
    will show you what lenders are likely to question. In addition,
    you will have an opportunity to practice reviewing financial
    statements of a hypothetical company. The bonus -- very
    minimal financial knowledge is required for this exercise.

  • "Small Business Lenders Want to Hear the Good -- and
    the Bad", read this article to learn about the risks and benefits
    of being honest with lenders. It is a common misconception
    that sharing with lenders your business problems will have
    negative consequences. Read this article to understand how to
    handle those difficult situations.

  • "Answering the Tough Questions", the worst thing you can
    do is to come unprepared to a meeting with the lender. This
    article will tell you what lenders are likely to question about
    financial performance of your company. Moreover, you will
    learn how to turn your company's weaknesses into strengths.

  • "Historical Financial Results and Their Relevance to
    Securing Small Business Loans", read this article to learn a
    simple five step approach to discussing your company's
    historical financial performance and impress lenders.

  • "Improve Your Chances for a Small Business Loan by
    Helping Lenders Understand Your Industry", an
    important step in securing loan approval is to make the lender
    comfortable with your industry. Lenders want to be confident
    in your ability to repay loans, and this is one of the ways to
    reach this goal.
Loan Financing Guide for Small Business Owners
"Empowering Small Businesses"
Useful links
(not affiliated with N. Berdiev)
Biz Journals

Circle Lending

Dictionary of Small Business*

Entrepreneur.com

Inc.com

itsSimple.biz

Kauffman Foundation
EVenturing*

Metis Creative Consulting

My Own Business*

Nolo

SCORE*

Small Business Administration*

Small Business Development
Centers*

Startupjournal.com

Veteranscorp.org*

Women's Business Center*



Financial templates

Small Business Administration*

SCORE*



Credit reporting agencies

Equifax

Experian

TransUnion

Dun & Bradstreet



Biz Libraries in Metro Areas

Boston*

Chicago*

Los Angeles*

New York*

Miami*

San Francisco*

Washington, D.C.*
* means government
or non-profit entity
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