Jeff Feingold's Page

Hi Jeff,
Thanks for the note and your time this AM. I will be in touch shortly.
Toral

Shout out to the best editor ever! Great working with you Jeff!
Trudy

Jeff

Great idea. Thanks

George

Things are really good. Just hired a development person so we are taking some great steps in the right direction.

cj

Red underwear does not count - it has to be visible. So unless you plan to streak that day, you better get a sweater, tie or something else :)

Thank you. it will be interesting to follow the activity.

Hi Jeff - great job.
Here is some information you might want to share with the SMB audience:

"Where's the Money?"
The fact is, small businesses are still having a very difficult time finding the business financing they need to start and support their operations. Given that as a start, here are some further thoughts:
• The requirements have become much more stringent for small business lending - Banks and other conventional lenders are open to requests, but only from very solid companies with a 2-3 year successful track record, a clearly documented ability to repay the loan, and great collateral.
• Where there may be an opportunity for bank financing - you will need a complete business plan (You should have one anyway, of course). There are many public agency and non-profit business counseling resources that will help put this together for no cost - this can be an extremely valuable resource in the broader sense - getting good advice on all aspects of business development. Often these agencies have connections with local lenders where they can make a helpful introduction. These programs are all listed at www.BUZGate.org.
• Credit Cards - 46% of all small businesses use this as base financing. The good news is that this resource is pretty available for most start-ups. The bad news is that they carry a very high interest cost - which can severely impact a new or struggling small business - and can negatively affect your credit score which can be a borrowing detriment when the lending environment improves
• Retirement Funds - Many recently laid-off individuals are starting their own small business - and often using their retirement fund to finance the operation - If they are using a 401K, they should make sure that it is configured to allow them to borrow from the fund rather than cashing-out - if they cash-out, they will have accrued taxes to pay and a hefty penalty that can equal as much as 1/3 of the fund - both of which are avoided through the borrowing option
• Friends and Family have long been a source of financing for new small businesses - there is essential professional help to support and properly document such activity (http://www.buzgate.org/8.0/mn/ch_virginmoney.html)
• Public Sector Funding - Look to state-based and other public financing programs that may have specialized financing programs that are driven by more social outcomes such as job creation or HUB Zone deployment.
• Finally - minimize the investment - keep your breakeven at rock-bottom - don't spend a dime that isn't absolutely essential; don't buy expensive equipment - look for used bargains - minimize cash outflow commitments - watch labor costs - outsource where possible rather than maintaining employees
Good luck from Dr. Bill

That's great. Thanks for inviting me to join.
Jan

Nice to be here, Jeff.
I'm looking forward to exploring it more.