Business and Industry Loan Guarantee Program These are loan guarantees with an upper limit of $10 million. Some high-priority projects may be guaranteed up to $25 million by the administrator in Washington. Most business purposes are eligible, e.g. building and equipment purchase or development, working capital (no lines of credit); aquaculture; commercial nurseries; tourist and…
Item 5: Initial Fees Consistent with the UFOC Guidelines, Item 5 of the amended Rule requires the disclosure of any initial fees and any conditions on their refundability. “Initial fees” means “all fees and payments, or commitments to pay, for services or goods received from the franchisor or any affiliate before the franchisee’s business opens,…
Item 5: Initial Fees Consistent with the UFOC Guidelines, Item 5 of the amended Rule requires the disclosure of any initial fees and any conditions on their refundability. “Initial fees” means “all fees and payments, or commitments to pay, for services or goods received from the franchisor or any affiliate before the franchisee’s business opens,…
This post is part of a series of posts designed to help you acquire a loan for your small business. The following posts cover methods for public financing of your small business Local MN Programs for Small Business Loans Minnesota Reservist and Veteran Business Loan Program Minnesota Small Business Loans: Urban Initiative Program Value-Added Producer…
This post is part of a series of posts designed to help you acquire a loan for your small business. The following posts cover methods for public financing of your small business Local MN Programs for Small Business Loans Minnesota Reservist and Veteran Business Loan Program Minnesota Small Business Loans: Urban Initiative Program Value-Added Producer…
This post is part of a series of posts designed to help you acquire a loan for your small business. The following posts cover methods for public financing of your small business Local MN Programs for Small Business Loans Minnesota Reservist and Veteran Business Loan Program Minnesota Small Business Loans: Urban Initiative Program Value-Added Producer…
Item 4: Bankruptcy The bankruptcy disclosures of the amended Rule are substantively similar to those of the UFOC Guidelines. One difference, however, is the list of persons about whom bankruptcy information must be disclosed. Franchisors must disclose not only the bankruptcy history of the franchisor itself, its affiliates, and predecessors, but also of any of…
This post is part of a series of posts designed to help you acquire a loan for your small business. The following posts cover methods for public financing of your small business Local MN Programs for Small Business Loans Minnesota Reservist and Veteran Business Loan Program Minnesota Small Business Loans: Urban Initiative Program Value-Added Producer…
This post is part of a series of posts designed to help you acquire a loan for your small business. The following posts cover methods for public financing of your small business Local MN Programs for Small Business Loans Minnesota Reservist and Veteran Business Loan Program Minnesota Small Business Loans: Urban Initiative Program Value-Added Producer…
Item 3: Litigation Item 3 calls for the disclosure of certain lawsuits involving the franchisor and other entities associated with the franchisor – i.e., predecessors, parents, and affiliates – in addition to certain lawsuits involving any person identified in Item 2. These are substantially similar to the disclosure requirements of the original Rule and the…
Item 3: Litigation Item 3 calls for the disclosure of certain lawsuits involving the franchisor and other entities associated with the franchisor – i.e., predecessors, parents, and affiliates – in addition to certain lawsuits involving any person identified in Item 2. These are substantially similar to the disclosure requirements of the original Rule and the…
This post is part of a series of posts designed to help you acquire a loan for your small business. The following posts cover methods for public financing of your small business Local MN Programs for Small Business Loans Minnesota Reservist and Veteran Business Loan Program Minnesota Small Business Loans: Urban Initiative Program Value-Added Producer…
This post is part of a series of posts designed to help you acquire a loan for your small business. The following posts cover methods for public financing of your small business Local MN Programs for Small Business Loans Minnesota Reservist and Veteran Business Loan Program Minnesota Small Business Loans: Urban Initiative Program Value-Added Producer…
Loan Packaging Before inquiring about debt financing, an entrepreneur should assess such things as: Do you actually need more capital or can you manage existing cash flow more efficiently? How do you define your need? Do you need money to expand or as a cushion against risk? How urgent is your need? Do you want…
Item 2: Business Experience Item 2 of the amended Franchise Rule is substantially similar to Item 2 of the UFOC Guidelines. It requires disclosure of the business experience of certain individuals – including directors and principal officers, among others – for the last five years. A longer period is acceptable if the prior experience is…
Item 2: Business Experience Item 2 of the amended Franchise Rule is substantially similar to Item 2 of the UFOC Guidelines. It requires disclosure of the business experience of certain individuals – including directors and principal officers, among others – for the last five years. A longer period is acceptable if the prior experience is…
Business Loans Debt Financing There are many sources of debt financing: banks, savings and loans, commercial finance companies and government agencies are most common. State and local government have developed many programs in recent years to encourage the growth of small businesses. Family members, friends and associates are all potential sources, especially when the capital…
The number of companies and outright scams—all selling information about “government grants” or guides to government grants—is growing through Internet spam and telemarketing. All of these offers are built on the false idea that individuals are eligible to receive thousands of “unclaimed” dollars from the government—money that can be used for almost anything, including personal…
Income Forecasting Techniques One of the most important steps in the construction of a written plan for your proposed business is the development of meaningful financial projections. No business enterprise should be undertaken without a clear plan of profit potential and an understanding of the sales volume needed to achieve this profit. Experienced entrepreneurs recognize…
Accounting for the New Business Basic Accounting Principles Accounting is the process of collecting, organizing, maintaining, reporting and interpreting financial data about a business. That financial information is useful both to the business owners and managers in operating a business in a profitable and efficient way, and to outsiders like investors or creditors who require…
Sample Business Plan Format Summary The summary should concisely describe the key elements of the business plan. For the firm seeking capital, the summary should convince the lender or venture capitalist that it is worthwhile to review the plan in detail. The summary should briefly cover at least the following items: Name of the business….
Business Plan One of the first steps in a new venture is the development of a business plan. The business plan describes the business: its product or service, market, people and financing needs. A well prepared business plan serves several purposes: For the new business, it helps the owner determine the feasibility and desirability of…
Commonly Asked Questions Concerning Intellectual Property What is the difference between a design patent and a utility patent? A utility patent covers the concept or idea behind a device or process, whereas a design patent protects only the appearance of the article. After issuance, a utility patent has a term of 20 years from the…
Item 1: The Franchisor And Any Parents, Predecessors, And Affiliates Item 1 of the amended Rule requires franchisors to disclose background information on the franchisor and any parents, predecessors, and affiliates. Unlike the UFOC Guidelines instructions for Item 1, the amended Rule does not expressly require a franchisor to refer to itself as “we,” or…
Item 1: The Franchisor And Any Parents, Predecessors, And Affiliates Item 1 of the amended Rule requires franchisors to disclose background information on the franchisor and any parents, predecessors, and affiliates. Unlike the UFOC Guidelines instructions for Item 1, the amended Rule does not expressly require a franchisor to refer to itself as “we,” or…
Trade Secret Protection A trade secret is any formula, pattern, device, process, tool, mechanism, or compound of peculiar value to its owner (and his or her employees) which is not protected by a patent and is not known or accessible to others. Trade secret protection is governed exclusively by state law, but for all practical…
Fair Use Other people can use (copy, perform, display, etc.) a copyrighted work for purposes such as criticism, comment, news reporting, teaching, scholarship, or research without infringing the copyright. Fair use is determined on a case-by-case basis. Whether a use is indeed a “fair use” depends largely on the effect of the use upon the…
Copyright Protection A third type of intellectual property is the copyright. A copyright protects literary and artistic “expression” as well as other types of informative media that derive their value from the particular manner in which the information is expressed. Books, musical works, plays, computer programs, paintings, sculptures, and movies are among the types of…
Trademark Infringement A trademark can be infringed even if the infringer is not using an identical mark. Trademark infringement occurs when another trademark is confusingly similar to the original trademark. Whether the two trademarks are confusingly similar depends on a number of factors, including: The existence of actual confusion in the marketplace between the trademarks;…
The overview that follows highlights key changes and provides sample disclosures for each item in the disclosure document required by the amended Rule. The Cover Page The disclosure document begins with a cover page that provides prospective franchiseeswith information about the franchise being offered for sale. The amended Rule updates theoriginal cover page to include…
