What to know about Small Business Loans and Funding

In this Small Business Show Newsletter we will cover several topics from previous shows on funding your business for success!

You’ll Learn About:

  • Employee Loans and Alternative Funding (240)
  • Health Insurance, Family Funding (295)
  • A Special Look At This Week’s Sponsors

Employee Loans and Alternative Funding

Should your Small Business make loans to employees that are in a bind and if so, what policies and procedures do you need to put in place to protect yourself? And creating your own reality is great, but what about the reality of not being able to pay your bills? Join us today for a special listener questions edition of the Small Business Show!

Most Small Business owners have found themselves in the position of being asked for a loan or payroll advance from an employee. When this comes up, should you make the loan? If you do, how do you protect your business and yourself and create standards to follow for future payroll advances?

When an employee asks for a loan:

  • Can You Afford It?
  • Be EXTREMELY CLEAR on the terms and conditions
  • Get This In Writing
  • Make Company Loans Over Personal- take it out of paychecks
  • RocketLawyer Loan Agreements: Make A Free Loan Agreement Here
  • SHRM Pay Advances

What to do when you run out of money?

Get your capital in line with these resources:

Health Insurance and Family Funding

Tips for finding health insurance for your family and employees

Borrowing Money From Family and Friends?

Sponsors This Week:

Sanebox : SaneBox. SaneBox’s Artificial Intelligence monitors your Inbox. Automatically, knucklehead email is moved to your SaneLater folder. All that’s left is the important stuff and your smiles. Use SaneBox.com/smallbusiness for 14-days free and a $25 credit.

HelloFresh: HelloFresh. Visit HelloFresh.com/sbs14 and use code sbs14 for up to 14 free meals and free shipping!

Get In Touch:

https://www.linkedin.com/businessshow

SHANNON JEAN https://www.linkedin.com/in/shannonjjean

DAVE HAMILTON https://www.linkedin.com/in/davehamilton/

SADIE CYR https://www.linkedin.com/in/sadie-cyr-ba607b197

Follow Us On Twitter: https://twitter.com/BusinessShowCo

Watch Our Latest Episode Here: https://www.businessshow.co/podcast-episodes/

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