March: Two news items of particular interest to people on the larger end of the small business spectrum and/or folks who own physical, brick-and-mortar businesses:

The FDIC is telling larger banks to start re-opening their wallets and making more loans to smaller businesses. And the Obama administration has yet to announce the details of its plan to funnel loans to small businesses through community banks and credit unions.

FDIC Chair Sheila Bair made her remarks in a speech that was covered by the Miami Herald. The Herald quoted Blair as being unwilling to oppose government-mandated loans, saying “the history of that isn’t good.” At the same time, she called on borrowers to report banks that are refusing loans to small businesses and individuals.

That last might be a good idea. The large banks got our country into an economic mess. Now a lot of them are still playing with our tax dollars. It might be a good thing to make it public which banks are helping small businesses and which aren’t.

In other news of interest to small business owners who are having trouble getting loans, the San Francisco Chronicle has a recent piece on the wait for plans from the Obama White House.

After you’ve gotten started, you may think that you’ve faced and solved all of the small business financial challenges you’ll have to deal with. However, the challenges of getting started are just the first of many financial challenges you’ll face. Fortunately, a love of facing financial and other challenges comes with your job. But first you need to know what the common challenges to your small business are and how best to meet them.

The following are 7 common financial challenges you’ll face as your small business grows, and suggestions for solving them. While not all of these will seem any different from other challenges, all of them will affect your bottom line. These 7 tips for meeting financial challenges are taken from SMB Suite.com and the Canada One.com ezine.

1. Lack of capital to fund your small business’ growth is the first financial challenge listed by Canada One ezine. This challenge can be met by prior planning to see how much cash you’ll need to finance your growth and the cost crunches that can come with it.

2. Insufficient understanding of your risks is near the top of the list of financial challenges defined by SMB Suite.com. As your business grows it will become more hectic – the challenge you’ll face is to make the time to assess your decisions, and your risks, carefully before acting.

The Internet has brought with it an illimitable amount of small business opportunities for the home based entrepreneur. In the conventional workplace, unemployment still hovers at 10%, and few of us are convinced that things will magically improve in short order. Rather than look for another job you probably never liked anyway, why not take a look at becoming your own boss by owning your own small business.

Whether you have varied interests or one serious passion, there is a business opportunity out there for you. And don’t let a lack of formal education or professional experience dictate what type of small business you choose. All you really need to succeed is the initial investment, knowledge of your business, and more moxy than you ever imagined you had inside.

When it comes to business opportunities, by changing your attitude and imagining your own success, you’re halfway there.

For the entrepreneur with an idea, creating a small business plan should be the first step. There are writers who can do this, or you can save yourself an arm and create a small business plan yourself.  Many business owners understand what a small business plan is, but isn’t sure how they should go about to create one. In other words, they need guidance. There are numerous resources online designed to guide the entrepreneur and give them a better idea of how a small business plan should look and sound.

Guidance for Small Business Plans

There are some entrepreneurs who already know what they would like to include in their small business plan, but are unsure how to format it onto into a document. There are tons of resources online to guide the entrepreneur through the small business plan process.

Templates. Often referred to as a “fill-in-the-blank” document, templates offer a model for entrepreneurs to follow when creating a small business plan. There are literally thousands of templates online to help with writing a small business plan. Although the majority of small business plan templates online are free, if you would like your small business plan to stand out from the crowd and can afford it, purchasing a small business plan template would be best.

Samples. A sample provides a little more guidance on writing small business plans than a template would. A sample small business plan gives you the chance to actually see a small business plan in action. Samples can be confusing and overwhelming to the individual who has never seen a small business plan. Before attempting to make a model of the small business samples, search for more online advice about the function of a small business plan.

Online advice. When searching for small business plan templates and samples, considering reading a few tutorials, articles, and blogs related to small business plans. Taking this extra step will help you to understand the more important element of a small business plan, such as tone and delivery.

A common misconception about beginning a small business is the belief one must apply for a small business loan. This is not true. It is possible to start an online business without a loan. Business loans only add to your debt, which we can all use less of, so try a few alternatives before you sign the dotted line.

What Businesses Can I Start Without a Small Business Loan?

Small business loans are tempting to the novice entrepreneur, and with so many of them tailored to your specific need, it’s hard to say no. Here are a few ways to help you avoid applying for a business loan, instead taking another route, the less expensive route.

Graphic design. Using your own graphic-design skills when starting a small business is easily and can be done without applying for a loan. The majority of the graphic design tools you will need are offered online for free. A small business loan is not necessary for graphic design expenses when considering this option.

Selling products online. If you have collected antiques or have a few things you need to get rid of, sell them online. Although some may consider seeking a loan as business begins to pick up a bit, in no way is a small business loan necessary at first. Use your income and save an emergency fund to handle any future pressing issues.

When it comes to getting a loan for your small business, it seems offers for “free” money are everywhere. And, if you’re like most savvy business owners, you understand that loans come with as many risks to your small business as they do rewards. Loans are not meant to be paydays for your business and should not be used as a means for long-term sustainability.

However, if your company’s earning potential is stymied by the fact that you lack capital for smart growth, it’s time to look into loans for your growing small business. If you wait until you build enough capital to expand using your own revenues, you may miss lucrative opportunities and could lose out to more well-funded competitors.

Before you start, however, you must understand some of the unspoken “rules of the road” for securing loans. As it is with many business transactions, it is necessary to read the fine print and understand how the terms of your loan will impact your bottom line.

So, here are ten insider secrets for choosing loans.

According to the US Small Business Administration, women make up 47% of the workforce and own almost 30% of non-farm small businesses. Women employ 6.5% of the nation’s workforce. Women-owned businesses grow at a much faster rate than other sectors and will continue to do so for the foreseeable future.

To continue this trend, however, women need a helping hand to make their dreams a reality, which explains the sharp increase in small business loans for women. Because more women business owners have families and children, attentions get divided and it can be difficult to stay afloat without loans for women that own small businesses.

If the idea of securing a loan for women overwhelms you, don’t let it. There are many great organizations designed for the express purpose of getting capital into the hands of women business owners. And the best part about most programs granting small business loans is that repayment is at a much lower interest rate than those charged by banks for traditional business or personal loans.

Individuals seeking these loans for women are in for a pleasant surprise as they find both a wealth of resources and lenders eager to help them make their businesses successful. Because women-owned businesses fall under the government designation of historically under-utilized businesses (HUB), it behooves financial institutions to facilitate loans for women.

If you are looking for a small business loan, consider one of the following sources for information and loan applications: