Apple FCU Grows Business Loans from $6 Million to Nearly $100 Million
Even in a still-recovering economy, financing may not be that hard to come by if entrepreneurs follow a checklist of items credit unions are looking for.
The $1.6 billion Apple Federal Credit Union in Fairfax, Va., recently offered that insight. The cooperative said its small business lending grew from $6 million five years ago to $96 million today.
She started Tri-Ed Tutoring in 2006 when she was the sole tutor. Medders said she now has a team of 60 who offer services throughout Northern Virginia, Washington and Maryland.
Medders offered the following tips for startups: write a business plan that includes goals. Take the time to get to know the potential employees you interview to determine if they are a good mesh for your company vision and ideas, she also advised.