Get a $500,000 Small Business Loan Without Any Tangible Assets?

Effective October 1, 2009 good will and other intangible assets can amount to up to $500,000, with no limit on the percentage of the loan, that’s according to the Small Business Administration. When intangibles exceed $500,000, the S.B.A. will recommend that banks limit the S.B.A.-backed loan to 75 percent of the purchase price. The remaining 25 percent of the purchase price would have to come from either buyer equity or seller financing. “Goodwill” is the difference between what a buyer pays for an existing business and the book or fair market value of the assets of the business. According to the S.B.A, Goodwill is one of the riskiest assets that can be financed, because it typically has no liquidation value in the event a loan defaults.

Google Goes to Work for Small Business for Free

A new toolkit from Google came out earlier this month that claims to put the needs of small business owners in one place. A review of the new toolkit from Small Business Trends says that even though it is completely self-serving the tools could actually help small business owners with finding customers, crashing computers, mapping delivery routes, advertising and legislative issues in one place. Getting ranked on Google is a priority for many small business owners and currently Google is traveling around the country offering free seminars called Small Business 101s to help entrepreneurs become more familiar with online tools proven to help them succeed. The last event was held September 22, 2009 in Pittsburgh, PA. Google has not yet posted their next date.