The SBA Does Not Loan Money | Peter Mehit

The SBA Does Not Loan Money

 Q. Should I get a loan from the SBA?

A. You can’t get a loan from the SBA, but you can get a SBA loan guarantee.

Come again?

Well, first off, the SBA does not loan money, so you can’t get a loan from the SBA.  Only banks loan money.  The SBA writes guarantees to limit the losses a bank will experience if your loan goes bad.  This is important to know, because it means you will have to qualify under the bank’s rules.

These can be very different from the SBA’s.  For example, it is not a requirement for you to collateralize the full loan amount to get an SBA guarantee.  Under SBA rules if you run out of assets, but have pledged what you have available, you can be approved.  Right now, we know of no bank that will make a loan without collateral equal to our greater than the amount you’re borrowing.

Each bank’s rules are slightly different, with the large banks having the most restrictive and the local and regional banks being the most liberal.

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Could Color Wheels Make for Easier, More Secure Passwords? | WIRED

The password as we know it is in critical condition. These days, with big-name security breaches popping up seemingly as often as Justin Bieber scandals, we’ve had to try to find new ways to secure our online identities. One finger in the dike has been the “strong” password, or the practice of sprinkling numbers, symbols and capital letters into our codes. If “spike” could be guessed with a simple brute force attack, perhaps “Spike!” leaves us a bit safer.

Of course, strong passwords have the same inherent problems as all passwords. As WIRED writer Mat Honan, himself the victim of a devastating hack, evocatively put it, they’re a “Band-Aid that’s now being washed away in a river of blood.” Still, in the here and now, there’s another problem with these so-called strong passwords, according to design student Renee Verhoeven. It’s something much simpler. “People can’t remember them,” she says.

That’s precisely what she tried to tackle with “ID Protocol,” her graduation project at the Royal College of Arts in London. For the project, Verhoeven created a conceptual series of password tools that scrap letters and numbers in favor of personal, mnemonic codes. Mnemonic memory devices have been around in some form or another since the ancient Greeks, and include basic everyday memory tricks like acronyms and rhymes. Teachers love them: Remember committing My Very Educated Mother Just Served Us Nine Pizzas to memory, to remember the order of the planets?

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5 Things to Consider When Hiring Friends | Entrepreneur.com

We’ve all seen the boundaries between our personal and business lives all but disintegrate. More and more, we’re becoming friends with coworkers. But what about employees and bosses? Should they be friends?

5 Things to Consider When Hiring Friends

Over the years I’ve had loads of friends that were also employees. I’ve even called a few CEOs friends. While I’m still on good terms with many of them, there are only a few I would still enjoy hanging out with, and vice versa. And I’m definitely not alone in that regard.

There’s no single reason for the phenomenon, but if I had to boil it down to one sound bite, I’d call it drama. When you work closely with someone there’s always going to be some drama. In time, that adds up to a lot of water under the bridge. And when it’s over, you’d both just as soon put it behind you and move on.

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The Value of Handwritten Notes | The Simple Dollar

Whenever I happen to stop in a Hallmark store, I’m just astounded as to the wide variety of greeting cards on display in there. There are cards for birthdays, wedding anniversaries, bridal showers, engagements, weddings, new babies, job promotions, new jobs, good-byes, graduations, passing a big test, recovering from illness or surgery, sympathy, apology, christenings, baptisms, bar mitzvahs… and that doesn’t even touch the seasonal cards, like Veteran’s Day, Mother’s Day, Father’s Day, Christmas, and so on. All of these cards are there to express the same basic sentiment: that you’re thinking of someone during some special occasion.

Don’t get me wrong, that sentiment is a great thing. It’s wonderful when people take the time to think of each other on important occasions. My trouble is that the sentiment that they express can just as easily be expressed without spending money on a greeting card. It can be written as a letter or on a very inexpensive blank card.

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Obama Says He’ll Take Immigration Action With House Stuck | Bloomberg

President Barack Obama said he’ll resort to executive action on U.S. immigration rules because House Republicans won’t hold a vote on legislation to revamp the system.

“For more than a year, Republicans in the House of Representatives have refused to allow an up-and-down vote,” the president said at the White House. They are “unwilling to stand up to the Tea Party to do what’s best for the country.”

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Why Small Business Owners Need a Summer Vacation | Business News Daily

As a small business owner, it can seem almost impossible to take time away from work. You may think that you can’t afford to go on vacation when you’re in charge of your company’s day-to-day operations, but to protect your own well-being, you really can’t afford not to.

“Small business owners wear many hats,” said Craig Bryant, founder and product manager of small business HR management software company Kin HR. “Many hats means many worries, and many worries bring lack of sleep, exercise and time to decompress. Exhaustion can lead to poor decision-making, and we all know what that means for business.”

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Tiny Electric Grids Help States Weather Extreme Storms | Scientific American

Two years ago this week, a fierce, fast-moving thunderstorm system known as a derecho ripped through the Mid-Atlantic leaving more than 1 million of Maryland’s 2.5 million electricity customers without power.

In the aftermath of the storm, the state stepped up efforts to improve the resiliency and reliability of the grid. This week, at the behest of Gov. Martin O’Malley D, the Maryland Energy Administration MEA released a road map for microgrid deployment as part of a strategy to withstand future storms, which are expected to become more intense as a result of climate change.

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The Domestic Worker App – 5 apps to help change the world | CNNMoney

When New York became the first state to pass a domestic worker bill of rights, the National Domestic Workers Alliance collaborated with the women and minority-led non-profit art studio, Studio REV, to create an app to educate these workers about their rights.

Marisa Jahn, executive director of Studio REV, said the studio consciously decided to design something that would be accessible to those who aren’t that tech savvy and may not have pricey smartphones.

A call-in service connects workers to fictional, educational audio episodes about domestic workers rights and common employee-employer scenarios.

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Cool but Pricey Business Ideas |CoolBusinessIdeas.com

Starting your own business will always entail some initial costs, but some ideas are considerably more expensive than others. It takes a brave person to go into such a venture, knowing that there’s always the possibility they won’t succeed. Some people are lucky – they already have the capital to give their expensive business idea a go. Others need to rely on loans and investors in order to get their fledgling venture off the ground. Check out these awesome expensive business ideas and see if you’d be brave enough to tackle any of them for yourself.

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6 Ways to Transform Data into Information That Drives Decision Making | Allbusiness.com

Like most business owners and managers, you are likely inundated with oceans of data on a daily basis, yet not much of it helps you make decisions that improve results.The problem we all face is having too much data because we know that’s a good thing, yet very little of it enables effective decisions. Often, the data isn’t going to help you. Either it’s not the right kind of data or it isn’t compiled and analyzed properly.In other words, it isn’t Information — it’s just data. You need information for decision making.

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