Professional Jeweler Archive: The Money Seeker

August 2000

Managing/Technology


The Money Seeker

When it's time to establish financial relationships, try the Web


One of the first pieces of advice jewelers receive when starting a business is to build a relationship with the local banker to ensure access to loans and credit lines. But do you always get the best rate from your local banker? A good way to find out is to check the Internet, where several Web sites offer loans online. Here are a few of the many available:

  • LiveCapital.com (www.livecapital .com) represents 25 banks nationwide, and more are added monthly. You apply (no charge) and LiveCapital.com reviews financing offers for which you’re likely to be approved, based on a review of your application and credit reports. You receive a list of prospective lenders and, after making a selection, are notified almost immediately of the lender’s decision. LiveCapital.com offers a variety of loans, lines of credit, equipment lease loans and accounts-receivable loans. It uses Secure Socket Layer technology to ensure no one else has access to your application.
  • The Business Finance Mart (www.bizfinance.com) offers 24-hour interactive business financing and other financial services. Before you can access the database of funders, you apply. A search engine then matches your needs to the “most appropriate local or nationwide direct lending institution.” Business Finance Mart reviews your profile to determine whether your project is feasible. If so, a search determines where to place your request, then a lending officer contacts you.
  • America’s Business Funding Directory (www.businessfinance.com) provides the names of funding sources as well as help in other areas. The Capital Search section asks about the type of loan sought then directs you to potential lenders. The Expert Center helps you put together a presentation and directs you to SCORE (Service Corps of Retired Executives). The Getting Loan Help page tells you about banks, lenders and programs available, concentrating primarily on those with connections to the U.S. Small Business Administration. It also provides links to companies that make investments in small businesses. Another link takes you to software for small businesses.
  • Many other sites offer advice and information on obtaining loans. Three examples:
    1. www.netscape.com/netcenter/smallbusiness/businessfinance.
    2. www.zdnet.com/smallbusiness. Under “Resource Centers,” click on “Finance.”
    3. www.inc.com.

    – by Jack Heeger


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