Owning or running a business is a thrilling but stressful endeavor. Long hours, few peers, and knowing other people’s livelihoods depend on you can cause many sleepless nights. Add in the false expectation that a business leader should be an expert in all areas of business and the pressure can be overwhelming. Alerus can help…
The coronavirus pandemic has delivered many challenges and changes to businesses and investors. But with change comes opportunity. As commercial real estate (CRE) needs shift and evolve, now may be an ideal time to invest in CRE ownership. Here are a few tips to consider when seeking financing.
Capital is a catalyst. It is a necessary ingredient for a business to launch, grow, make an acquisition, transfer ownership, or weather challenging times. Lenders play a crucial role in helping businesses achieve their goals – and there are lots of things businesses can do to make the process smoother and more effective.
For smaller businesses, debt sometimes gets a bad rap. But for many businesses, access to business line of credit may not only be necessary, but a smart move. Knowing how to select the right financing and manage it wisely can help a successful small business become a larger successful business more than managing everything on…
Most people have heard the personal finance adage that they should have cash equal to 6 months of expenses on hand, in case they lose their job or have an emergency expense. But should businesses? And is it realistic or wise to have that much capital sitting around? The short answers: Yes, and yes. How…
Unless your business is of the home office or garage variety, you’re going to need someplace to actually do business. Big or small, whether it’s a storefront, warehouse, factory or office, the same question comes up for every business: Should we buy or lease space? Don’t go it alone – talk to someone with experience…