Business Funds Quickly But With a Catch

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Meredith Wood, Head of Content and Editor-in-Chief at Fundera, an online marketplace for small business loans, writes about three (3) global giants that lend to small businesses but with a catch.

1. PayPal -- the catch?  "As long as you’ve been using your account to accept payments for three months or longer and have processed $20,000 in sales within the past 12 months, you’ll be eligible for a loan."  More here.
2. Square Capital -- the catch?  "With a Square Capital Loan, your eligibility is determined by your processing volume, account history, and payment frequency. Again, this means there is no credit check to determine your loan eligibility, but you must be a current customer."
3. Amazon Lending -- the catch?  "To qualify for a business loan through Amazon, your inventory needs to be stored in their FBA warehouse, and you must have about a year of sales history. You are essentially borrowing against your inventory and future sales.  The caveat, however, is that financing through Amazon is invite-only, so simply having an account with them is not enough to warrant a loan."

Read more:  The 3 Global Giants that Lend to Small Businesses

And for globalizing companies, there's TradeUp Fund, which helps export-driven companies raise flexible financing (not a loan company) that accommodates each company's unique aspiration. Let's not forget Kabbage either.  And the latest news on money-lending practices.

Ways to Finance Your International Business

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How do you finance an international business?  Let me count the ways but this webinar, delivered by the famous Dr. Kati Suominen, covers nearly all your options and it's free.  Yes, you read that right.  Here's what you will learn:

• Export credit insurance: Getting paid from a foreign buyer
• Export working capital: Getting money to fulfill international orders
• Factoring: Getting advance payment for your foreign A/R
• Buyer finance: Finding money for your foreign buyer to buy from you
• Growth capital: Getting long-term debt or equity to scale production and international sales

Go here to view the webinar.

You can also access Kati’s accompanying PowerPoint here.

Global Small Business Forum 2015 Was a HUGE Success!

Thank you to sponsors Chicago Expert Importers (CEI), Endicia and TradeUp Fund for their generous sponsorship to the first Global Small Business Forum held in Chicago at Navy Pier on Friday, October 23, 2015 with the theme "Up Your Global Game." We also thank ATA Carnet | Boomerang Carnets for their Executive Sponsorship.  We had a terrific turnout with very engaged participants who asked a lot of great questions.  The speakers/panelists/moderators were was follows:

• Richard Paullin, Executive Director, International Trade Association of Greater Chicago; Chairman, IL District Export Council
• Kevin Drost, Director of International Strategy, Reverb.com
• Marianne O'Brien, Regional Administrator, U.S. Small Business Administration
• Rajiv Khatau, Founder and Managing Director, LODAAT LLC
• Kati Suominen (pictured third photo from top), Founder and CEO, Nextrade Group, LLC — keynote speaker!
• Marc Schulman (pictured above), President, Eli’s Cheesecake Company — headliner -- read his post!
• Lisa Bitsky, President, Automated Design Crop.
• Zach Person (bottom photo-front to the right), Program Manager, IL International Trade Center for Entrepreneurship, College of DuPage
• Sophia Leaguedi, President, Ameroc Export Inc.
• Jim Snediker, Co-Founder and CEO, Stock Manufacturing Co.
• Roy Donoso, President, Sumac
• Timo Lukkarinen, CEO, Horizon Educational
• Sergei Kozyrenko, Co-Founding CTO, Parknav
• Rob Wray, CEO, mp3Car
• Morgan Coghill, International Sales Manager, Simmons Knife and Saw
• Doris Nagel, President, Blue Sky Consulting Services

Here's what attendees said about the conference:

• Terrific conference!  Congratulations – certainly the 1st Annual – it must be repeated.
• You did a great job with the Global Small Business Forum.
• Thank you again for a wonderful event.   I am sorry to have had to leave prior to the end but what I was there for was really well done and such good interaction.
• Without your vision and guidance it wouldn't have been possible.  From what I saw, the event seemed rich with valuable information.
• It was a real honor to be invited.  I know it takes a tremendous amount of effort, and you put on a successful event.  
• I really enjoyed the discussion. Hope we [as a panelist] get to do it again soon.
• You have surrounded yourself with such amazing people.

We are also grateful to our Major Partners and all the vendor companies that purchased tables and further supported our event.  Special hat tip to Small Business Trends for their "19 Tips for Taking Your Small Business Global."  Laura Fairman at Blue Canvas did an amazing job on the website, program and posters.  Thank you to everyone who made this event a tremendous success.  We look forward to next year's forum with the anticipated date of:  Friday, October 21, 2016.  More soon!

Photos courtesy:  GSBB Media LLC.  All rights reserved.