women and SBA loans: an insider's perspective

Though the article I'm referencing was originally posted in May, I still felt it a timely piece for today's mompreneur monday. Many of us women business owners worry about finances, and when things get tight we wonder what the best option is for our business: bootstrap, find an investor or partner, or apply for loan. And lately we wonder this a lot...

If you're as unfamiliar with the world of SBA loans as I am, welcome to Women and SBA Loans 101. Weekend Entrepreneur, a blog tied to Entrepreneur.com, interviewed Sue Malone, President of Strategies for Small Business. Malone is a champion of the small business and has funded 22,000 of them:

I understand women and their needs, and that is why I am the largest SBA provider to women in the nation, including all of the lending programs by SBA–24 percent of all SBA loans are to women.

In "An Insider Talks about Women and SBA Loans" Malone gives her thoughts on:

• the current trend away from traditional financing through local banks
• the amount generally financed, fees and interest rates
• biggest challenges that entrepreneurs have when it comes to getting a loan
• the types of business they can and cannot fund
• her mantra, recent breakthrough and even her role model

Weekend Entrepreneur's interview with Malone is a great way to get your feet wet in the world of SBA loans, and you might find you like it enough to go waist deep in some new financing for your company. SBA loans aren't for everyone, but if you read this article at least you'll know if one might be right for you.

You can read "An Insider Talks about Women and SBA Loans" on the Weekend Entrepreneur blog. If any of you have insight/advice/experience with SBA loans, please share. Many of us would love to learn more. Or tell us what works for you in keeping your business in business. We'd love to know! --Emily

do you aspire to a 4-hour work week?

I have never thought of a 4-hour work week as a goal of mine but after reading the first chapter of Timothy Ferriss The 4-Hour Work Week I'm thinking of setting a belated New Year's Resolution. As a business owner is a 4-hour work week even possible? From what I've read, it is. The first chapter of his book has me so intrigued the book is awaiting purchase in my Amazon.com shopping cart. Apparently my husband's heard about this book as well and is just as anxious to read what insight Ferriss shares beyond the first few pages.

You could read an endless, and I mean endless, list of money management and business management books but as a mom and business owner do you really have the time? The Big Idea with Donny Deutsch gives you the first chapter of The 4-Hour Work Week so you can have a taste of what Ferriss has to offer before investing any more time reading it. (Most of us don't yet have a 4-hour work week so time is precious!)

Many of us own our business because we love what we're doing but that doesn't mean we don't want to spend more time with our family, and having a little extra money doesn't hurt either. If you've read a great money or business management book please share it with us. Amazon.com reviews are helpful but hearing what other moms and women business owners like is even better! --Emily