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Fundbox Forward Podcast

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Join us for the Fundbox Forward podcast, featuring insightful talks from experts in fintech covering news, tips, Q&As, and more on topics about small business growth, funding options, net terms, and more. This is the official aural channel of Fundbox.com.
10 Episodes
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Fundbox CEO, Prashant Fuloria, speaks with Ahmande "Mondo" Grimes about the origins and growth of his company, Spartan Financial, an insurance provider specializing in final expenses. Mondo talks about his personal journey that took him through the Nashville music industry, sales, insurance, and ultimately led to him becoming an entrepreneur.  Though he experienced tough times through COVID, he emerged stronger with the help of a Paycheck Protection Program (PPP) loan that he applied for through Fundbox. Now his business has bounced back and diversified, and continues to grow. From the experience and wisdom he's gained, Mondo offers tips for other small businesses on how to succeed.
In honor of Black Music History Month (every June), we're sharing a brief history about R&B (rhythm and blues) music as well as some small business  aspects of the music business today. We’ll even suggest some tips for entrepreneurs and others who want a piece of the music business action.Our podcast guest is Akim Bryant, Head of R&B Programming at Pandora, one of the leaders in streaming music. Akim is an entertainment/media professional with extensive expertise in media relations including: creative writing, artist booking, and content programming. He is also a small business owner himself—an author, being not only an accomplished music journalist but also a published, independent novelist.Want to learn more about how to support your music-related venture? Read this article to learn how one music store used a Fundbox Line of Credit to grow their business: https://fbx.bz/musicstore
Join our conversation on how your small business can maximize forgiveness for Paycheck Protection Program (PPP) loan, designed to help companies, their employees, and even independent contractors during the economic impact of coronavirus/COVID-19. This podcast was updated on January 29, 2021.In this podcast, we share and discuss some of what we've learned to help clarify the #1 question topic about the PPP loan: forgiveness.Click the CHAPTER MARKERS tab above to skip to each question.A text version of this podcast is available here. (For translations, open in the Chrome browser.)Disclaimer: Fundbox and its affiliates do not provide financial, legal, or accounting advice. You should consult your own PPP lender for specific needs, or your own financial, legal, or accounting advisors before engaging in any transaction.
When COVID stay-at-home mandates hit, Philadelphia-based digital marketing agency Brand Llama moved their operations 100% online and also showed their clients how to pivot and go digital themselves. Sagan Medvec, co-founder and creative director of Brand Llama, talks about how they used innovative design, website, and ecommerce expertise to help manufacturers, trade shows, and other face-to-face industries survive and even grow when traditional ways of doing business were interrupted.
Minority businesses, particularly Black-owned small businesses, have been the hardest hit by the economic impacts of COVID. This comes atop a stark, historical disadvantage. On average, minorities have less access to start-up capital, are less likely to receive loans, and when they do, they typically get lower dollar amounts and pay higher interest rates.  What can be done to help solve the huge funding gap facing Black and other minority small businesses, especially start-ups? In this Fundbox podcast, our guest is Henry Childs, II: the world’s #1 minority business strategist. CEO of the Minority Wealth Commission, and a former National Director of the U.S. Department of Commerce’s Minority Business Development Agency (MBDA), Henry Childs is an expert in Black wealth, and a champion in the fight for financing the minority economy. 
Learn how one small business, a K-12 education company that had a business model dependent largely on face-to-face interaction, quickly adapted to a fully-online operation when the COVID pandemic shut down schools and non-essential businesses and social distancing and Zoom meetings became the new normal.This interview features Rosy Cohen, the founder, and educator at Grupology, a company that specializes in designing after-school educational experiences for K-12 students. 
This is a story about small business resilience in the wake of the economic and logistical impacts of COVID-19. Masterworks Creative is a digital marketing agency, based in Ocala, Florida, that has a unique focus on horses. Specializing in equine marketing for over 30 years, proprietors Tami and Marv Johnson share their experiences and insights at how they pivoted their business to better serve a community and industry that was heavily curtailed when live public events were shut down beginning in March, 2020. Tami and Marv talk about how focusing on the needs of a niche marketplace and adapting to new technologies can help a small business survive and succeed, and how a Fundbox line of credit helped them improve their business process as well as their cash flow.
Just when fair trade, organic chocolatier Endorfin Foods had solidified a niche in the competitive industry of gourmet chocolate, the coronavirus pandemic threatened to spoil the business. In this podcast, Founder and chocolate crafter Brian Wallace talks about the complexities of chocolate making and the marketplace and how Endorfin Foods weathered and survived COVID's impact on retail distribution. In addition to insights on how other companies can adapt to the new normal, Brian explains how a Fundbox line of credit helped provide his business with the buying power to take advantage of a pivotal opportunity to grow.
There is a trade credit crisis. At any time, American small businesses are losing immediate access to an estimated $900 billion in liquid capital, through their own practice of offering trade credit to their B2B customers --- in the form of net terms (payable net 30, net 60, or longer). Waiting to get paid no longer has to be a cost of doing "business as usual". In this episode, we discuss the latest independent research on how to solve the payment delay crisis brought on by this Net Terms Economy. A new study from Frost & Sullivan, a growth, strategy consulting, and research firm, shows just how much money’s involved and what can be done about it. The Frost & Sullivan research shows that by receiving payments when their work is complete — instead of having to wait — B2B sellers can enjoy:25% to 35% enhanced growthAn average of 10% lower operational costs, and valued at 4-6% of revenueA reduction in risks like customer nonpayment, churn, and fraud, worth 3-5% of revenueThe report goes on to suggest that small businesses can achieve these benefits of immediate payments by using what they call Next Generation Credit and payment solutions.See also our related Fundbox blog article: New Research Shows How to Stop B2B Trade Credit from Stunting Small Business Growth.
A text version of this podcast is available here. (For translations, open in the Chrome browser.)The Small Business Administration's Paycheck Protection Program (PPP) aimed to provide  qualified small businesses with a low interest (1%) forgivable loan. While PPP applications are no longer being accepted, legislation is pending that could reopen the program.If you're a small business owner or independent contractor who's suffering from the economic impact of the coronavirus/COVID-19 pandemic, the PPP could help save your company and your employees --- if you knew how to apply and skipped common mistakes that could get you rejected.In this podcast, produced in association with Jobox, experts from Fundbox provide a current and candid discussion and Q&A about the Paycheck Protection Program, including these key questions:What are the CARES Act, EIDL, and PPP?What is a PPP loan and what makes it different? Who is eligible to apply for a PPP loan/grant?What can disqualify you from a PPP loan?Now that the PPP is open again, what's the urgency?How can employers and independents apply?How do you find a lender?How can you maximize my chance for approval?What documents do you need ready to apply?How can you avoid triggering a fraud alert?What does the $100,000 salary cap mean?What does loan forgiveness mean?Is loan forgiveness automatic, and how much? Can you borrow more than you know is forgivable?Can you apply for both the PPP loan and an EIDL?How much can an independent contractor borrow?What can you use the PPP loan funds for?Why have some banks refused applications?If I was declined, how can I succeed at reapplying?What happens if funds are left over the forgiveness period?What happens to your EIDL if approved for the PPP?For more information, visit the Fundbox Blog.
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