The Venture Edge

I was recently applying for a modest line of credit for my growing small business, and my commercial bank loan officer mentioned that, as a part of the loan-approval process, the bank had obtained an SBSS score for my business. What? An SBSS score? That was a new one for me -- and I've been writing books about business for more than 15 years now. This was definitely something I needed to know more about.

As I have already mentioned here more times than I can keep track of, we're still in the throes of nasty economic downturn -- certainly the worst we've seen in many, many years. And despite everyone's hope for a rosier future, the near-term picture is still pretty bleak. According to government statistics, private payrolls rose by only 33,000 in May and 83,000 in June – not enough to sustain a recovery, and average wages and hours worked have both declined slightly. On top of all that, credit is still tight -- especially for small businesses. 

Way back in April 2009, I wrote a glowing post about my love affair with Kiva.org, the online microlending website. The idea is a great one: connect everyday people with entrepreneurs around the world who need small loans to start or grow their businesses. Go to the website, find an entrepreneur you want to loan $25 to, click and pay, and your money is winging its way into the pocket of your "adopted" small businessperson.

If you've got a small-ish business and you're looking for financing, you know that there are plenty of challenges. One of these challenges is the fact that many banks are still holding back on making loans at all. Another challenge is that companies are bumping up against the SBA (Small Business Administration) loan limits. Fortunately, progress is being made in Congress to help in both these areas.

One of the really great things about teaching budding entrepreneurs is that sometimes they come back to tell you how much they've used what they learned or what an impact you had on their lives.  I think that's why a lot of people have found so much joy in teaching.  I don't know about you but the days when someone takes the time to tell me how much they appreciate what I did are the best days of all.  Some of them thank you in a way that just keeps on giving.