Two minimum 250-word replies (one each to two classmates' threads). A substantive reply analyzes the initial thread as well as adding to the research and concepts put forth in that thread. ?
- Each reply must include the following:
- A personal reply that adds substantial discussion of the key topic.
- A citation from the text or other reputable business source that supports your personal feedback.
- A Bible verse and a statement as to how you feel it relates to the subject.
First of person to whom you are replying.
Be sure to share your personal insight into the original topic and expand on the original post. Do not restate the original post, but do be sure to cite something from the text or another article pertaining to the subject. Each reply is to be about 250 words. Do not expect to use a long Bible verse to make up the word count. A citation (quote or paraphrase) is required, but this should primarily be your personal/practical input.
Closing Verse: Share a Bible verse that supports your input and ideas in the submission. Include a short commentary on how your verse fits in with your reply. Note: There is always a Bible verse that pertains to the subject. Don't say that you couldn't find one.
References: (No annotated bibliography is necessary for the replies.)
According to Scarborough and Cornwall (2016) SBA loan
guaranty program is a program that lends money with a high default
rate. Although the SBA is a treacherous program. Lenders are willing to
face the treachery because the SBA is willing to gather majority of the
The article I read is titled ?What you need to know about SBA
Loans?. The article talks about how the SBA offers the most
competitive loans available, and explains that the Small Business
Administration does not actually lend out money. The SBA is a federal
institution which teams up with lenders, and the lenders are the ones
who actually lend money. One of the main reasons the SBA does not
lend money directly is because of the cost to the consumer. More
money would have to go to the agency for employee and lending
money. The article also covers the three main programs, 7 (a) loan
program, CDC/504 program and microloans. And explains how and who
can qualify for them. One thing this article stresses it the amount of
time it could take before a loan is obtained.
The Small business administration was established in 1953 for
the purpose of helping small distributions get funding and other
assistance. According to the author ?loan guaranty program is the
SBA?s flagship loan program. More than 3,500 private lenders in the
United States make SBA loans to small businesses.? Scarborough, N. M.
& Cornwall, J. R. (2016) This is very helpful to small distributions who
need money for equipment, to expand or buy real estate, to purchase
inventory or to build up capital. Hecht, J. (2016 ) states ?The
government guarantees a portion of your loan?usually between 75%
and 85% so that, even if you can?t make your repayments, the lender
only loses a small amount.? SBA offers resources that assist veterans
and disabled veterans in owning and operating their own businesses.
So, how does a small businesses owner get an SBA loan? The
first think they should do is go to the SBA website and get the
checklist. Then the business owner or potential owner should gather all
needed documents. The next step is to call the local SBA district office;
they would then provide you a list of local lenders. Once a business
gets paired with a lender it may take some time before funding is
received. The SBA has strict rules that must be adhered to. And in some cases credit has to be excellent. A lender can also extend the
loan repayment type so a business owner does not owe any interest.
Small businesses account for a large part of the United States GDP,
about 50% so it is important to help small businesses survive and
thrive; by offering low interest loans. ?Insufficient or delayed financing
is the second-most common reason for business failure,? Mills (2016)
According to Proverbs 22:7 (ESV) states ?The rich rules over the poor,
and the borrower is the slave of the lender.? In modern time, I would
interpret this verse, breaking it down into two parts. The rich do rule
over the poor, because the rich are the once giving people jobs. And
the borrower would be considered a slave because you have to pay
back a loan you receive. So, until that loan is repaid you are actually
working for the lender.
Hecht, J. (2016, July 25) What you need to know about SBA Loans.
Forbes. Retrieved from
This is the article that I chose as my topic.
Martin, M. (2015, August 17) How to find the right SBA loan for your
business. Business News Daily. Retrieved from
This article begins with an estimate of how many small businesses and
employees there are. It then explains who the SBA is, and how they get
businesses money. The article explains that the SBA does not lend
money on its own; It partners with companies.
Mills, K. (2014, November 3) Here how big government could help
small business. Fortune. Retrieved from
This article talks about how cash flow is a problem for many
businesses. It states that the average small business has cash flow
issues. And that the businesses only have cash for a short period of
time. The author talks about a program that was enacted during the
Obama administration that helped speed up the money lending
Scarborough, N. M. & Cornwall, J. R. (2016). Essentials of entrepreneurship and small business management (8th ed.).
Upper Saddle River, NJ: Pearson.
The definition used to write this paper was obtained from this book.
DefinitionThe text defines bartering as, ?the exchange of goods and services for other goods and
services rather than for cash? (Scarborough & Cornwall, pg. 472,2015).
SummaryThe article, ?Using Barter to Help a Business Succeed? describes how different
business work together for the common goal of bettering their businesses while
conserving as much financial resources as possible. The author talks about bartering
groups to join that involve many different businesses. She explains why groups are
beneficial using a usual product, fish, as the example. Groups allow you do barter with
other marketing items such as shirts or pens instead of your product. A barter group is
like a giant club made up of various business with ?barter dollars? and ?bank accounts.?
(Goodman, 2012). With those features individuals are able to use their ?barter dollars?
with other merchants even if they didn?t directly barter with one another.
Bartering is a trade that goes back well into history; it has essentially been done
since God created the earth. Bartering throughout history was peoples? livelihood. They
depended on being able to trade with one another for the items that were essential for
living. Bartering in today?s society has came a long way since its roots. Bartering is no
longer people?s way of life but simply a way to save money. From a new business stand
point bartering is a great way to get your name out there as well as be cost efficient in
receiving other companies. One example of bartering a local clothing franchise and a
photographer. The photographer uses the clothing provided by the clothing store and the
store is able to use his pictures in return. In my opinion bartering needs to happen more
in today?s society. Bartering groups are not very common especially in small
communities. Being able to be part of a group of business that are in an agreement to
work together for a common goal is beneficial for the companies. Bartering is good,
even if the economy is down, ?you don?t have to make a huge capital outlay every time
you need services. You just swap something? (Goodman, 2012). When a new business is
in its early stages it can sometimes be difficult to afford everything needs to make the
business successful. Joining a barter group gives a business the freedom to obtain
various goods and services without having to come up with excessive amounts of capital.
In the Bible we are taught to avoid debt when possible. Proverbs 22:7 states, ?the rich
rules over the poor, and the borrower is the slave of the lender? (ESV). Having the
opportunity to barter alleviates the amounts of debt needed. The small businesses are
able to make their profits faster because they were able to save money up front. Annotated Bibliography
Goodman, M. (2012, January 18). Using Barter to Help a Business Succeed. Retrieved
December 12, 2016, from
Hawkins, K. (2016). The Basics of Business Barter Groups. Retrieved December 12,
This article focused on barter groups, how they were operated and how
go about finding and joining.
How Barter Dollars Work For You - Tradebank International. (2010). Retrieved
2016, from http://tradebank.com/how-barter-dollars-work-for-you/
This article went into detail on how barter dollars worked if you are part of a
Scarborough, Norman M., and Jeffrey R. Cornwall. Essentials of Entrepreneurship and
Business Management. Harlow, Essex: Pearson Education Limited, 2015. Print.
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