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Co-opted

By taking advantage of cooperative (co-op) advertising, you can often get manufacturers to kick in extra dollars for your ads. Under the cost-sharing arrangement, a manufacturer agrees to pay for part of your ad each time you mention the manufacturer’s product. The earlier in the year you apply for the co-op dollars, the better. The money that manufacturers earmark for co-op advertising can go fast. Contact your suppliers, distributors and vendors now. Ask for their co-op advertising guidelines. The money you get could help pay for your Yellow Pages ad, print ads, broadcast spots and even billboards.
 

No Free Rides

A guaranteed loan from the U.S. Small Business Administration (SBA) might be just the ticket you need to finance your enterprise. But, don’t think you’ll get it for free. The SBA doesn’t issue loans. Instead the agency works with lending institutions to provide guaranteed loans. The SBA charges lenders a guaranty fee that ranges from 1 percent to 3.5 percent of the dollar amount it guarantees. Lenders also pay the SBA a yearly servicing fee of 0.25 percent on the outstanding loan balance. Your lender is likely to pass those fees on to you.

 

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