Federal Contracting & Small Businesses: A Perfect Pair
Last month the U.S. Small Business Administration (SBA) released fiscal data for 2022 that showed that the federal government spent $162.9 billion contract dollars with small businesses in the United States. While that is a staggering amount of money—and more than ever before—the overall percentage of dollars that went to small businesses actually declined by […]
Inclusive Economic Development and the Role of CDCs
When it comes to economic development, we would be lying if we said that it was fair and equitable across the nation. In fact, Brookings made this fact public in 2020 with its roadmap to inclusive development report. This report distills down into one poignant, unmistakable thought—economic growth in and of itself is not enough […]
Securing Non-Profit Funding Options to Promote Growth
Spring is a time of renewal and growth, and we’re not just talking about our lawns and gardens! Now is the perfect time to be thinking about new ways that you might want to grow and change your business—that will likely require some funding. This month we’re outlining how to go about locating and securing […]
3 Mistakes to Avoid When Starting Your Small Business
We know how exciting starting a small business is—seeing your passion project become a reality is an indescribable experience. However, the journey to launching a business is one that often has pitfalls that are easy to fall into, even if you’re not new to the field. We’re here to walk through some common mistakes that […]
New Business Venture Basics—Where Do I Start?
Welcome to 2023! We’re so glad you’re joining us in the New Year, and we’re jumping right in with some tips for how you can make 2023 the year you pursue that new business idea you’ve been dreaming of—or came up with just as you toasted goodbye to 2022. No matter how long starting a […]
Business Renewal Through Asset Acquisition Choices
Business Renewal Through Asset Acquisition Choices In last month’s blog, we explored how you can navigate your business through the renewal or decline phase of the business lifecycle. During this decision-critical time, business owners are determining if they want to sell their business or pursue ways to reinvest in and revitalize their business plan. It […]
Navigating Your Business Through the Renewal Phase of the Business Lifecycle
You may recall that in last month’s blog, we talked about the maturity phase of the business lifecycle. While that was the make-it or break-it phase, the next phase is even more important to understand—the renewal or decline phase. Preparing for what comes next is important. As Forbes reminds us, understanding each stage of the […]
These Are the Top SBA 504 Loan Lenders in Ohio
If you are a small business owner who has been looking into long-term financing, you’re probably already familiar with the 504 loan program. The U.S. Small Business Administration (SBA) provides 504 loans of up to $5 million to help small businesses afford major fixed assets. In order to apply for the 504 loan program, you’ll […]
3 Small Business Trends in a Post-Pandemic New Normal
At Growth Capital, we do more than make small business loans. We stay a step ahead of business trends, whether it’s events that affect small businesses or small business resources that can help your business thrive. But we never would have predicted the global pandemic that was particularly challenging for small businesses. Thankfully, it appears […]