Chase to Lower Loan Interest Rates for Some Small Biz

Chase bank said Wednesday it will lower the interest rate on a new Chase Business line of credit by 0.5 percentage points for up to three new hires made by a qualifying small business borrower.

“We encourage businesses to take advantage of the lowest interest rates in years and to create more jobs for the economy,” said Jamie Dimon, chairman and CEO of J.P. Morgan Chase. “We know how important it is to help small businesses because they are core to the U.S. economy.”

The company estimated that including the discount for a new business checking account, a small-business owner could save about $4,000 over three years on an outstanding balance of about $65,000.

The offer is available to business owners who are approved for a new Chase Business Line of Credit up to $250,000 or existing business customers who increase their line of credit by $10,000 or more. Chase business checking customers will receive an additional half percent discount on their loan rate.

Chase last year announced plans to increase small-business lending by $4 billion in 2010 to $10 billion.

WomenOnBusiness Offers Free Press Release Feature

WomenOnBusiness.com has launched a new featuring allowing any woman working in the business world to submit a press release publicizing news about her business.

It's a free feature and registration is not required to submit a press release at http://www.womenonbusiness.com/submit-a-press-release/.

Press releases submitted to WomenOnBusiness.com are published in the new Business Women News section of the site: http://www.womenonbusiness.com/category/press-releases/.

“The new Business Women News Press Release Submission feature on WomenOnBusiness.com enables women to share the amazing work that they’re doing across the social Web,” said Susan Gunelius, owner of the WomenOnBusiness.com blog. “It’s a free feature that is offered for the sole purpose of helping women establish their roles as thought leaders and contributing members of the business world.”

Is Your Business Ready for International E-commerce?

The Federal Trade Commission offers a handy checklist for business owners to review when considering if they are "consumer-friendly" for international electronic commerce:

Do You Clearly Disclose on Your Web Site

About You
What kind of business you operate
Your physical business address

About the Sale
What you are selling
A list of total costs you'll collect from the customer and the currency used
Restrictions or limitations on the sale
Warranties or guaranties associated with the sale
Estimation of when the buyer should receive the order
Details about convenient and safe payment options

About Consumer Protections
Your return policy
Where a customer should call, write or e-mail with complaints or problems
The opportunity for a customer to keep a record of the transaction
Your policies on sending unsolicited e-mail solicitations to customers, including an option for consumers to decline these offers
Information about dispute resolution programs your company participates in

Do You Use Fair Business, Advertising and Marketing Practices
Do you provide truthful, accurate and clear information on your web site
Can you back up the claims you make about goods and services
Do you disclose who is sponsoring an ad if it's not otherwise clear to consumers
Do you respect consumers' choices not to receive e-mail solicitations
Do you take special care when advertising to children

Do You Use Fair Information Practices Including
Notice to consumers about information collection practices, such as personally identifiable information
Choices about how personally identifiable information is used and whether it is shared
Procedures to ensure accuracy
Security measures appropriate to the transactions on your web site

DC Goodwill Accepts Old Computers in Partnership With Dell

For any of my D.C.-area friends, Goodwill of Greater Washington has entered into a partnership with Dell, allowing Goodwill to accept any brand of computer and computer equipment.

The computers and parts are then sold to Dell, which recycles them and so keeps the electronics out of landfills.

All proceeds from the sale of these computers to Dell will support Goodwill job training. The donations are usually tax deductible. More info is at www.dcgoodwill.org.

List of Small Business Contacts at Government Agencies

If you're a small business looking to get into government contracting, it helps to know where to start and who to call.


Government agencies must put together a list of federal agency contacts acting as a liaison between the agency and small businesses, thanks to the Small Business Paperwork Relief Act of 2002.

The law also requires the Office of Management and Budget to coordinate with the Small Business Administration to publish on the Internet a list of compliance assistance resources available at federal agencies for small businesses. That list (click on the link above) is a super and up-to-date resource that is posted on the Business.gov web site.

My Phone - It Takes a Lickin' But Keeps on Tickin' (But Not for Much Longer)

I know it's time to upgrade my phone. I have been pushing it off for a while but recently had a conversation that went something like this while we were driving in the car with my family:

Me: Yes, I did get that lollipop at the bank but you can't have it now. I'll get you another lollipop when we get home.

Hubby: She can have the lollipop, although it looks a little melted.

Me: But I need it.

Hubby: What? What for? I know you race around a lot from interview to event to home again, but how about a granola bar. That lollipop has seen better days.

Me: I'm using it for my phone. (I get the look from my nuclear engineer husband that I know so well. It's the look that says probably about now, yes now, the space ship will come and take her back to Planet Venus because seriously, what the hell is she talking about? Why didn't I marry someone normal like a chemical engineer?)

Me: Um, yes, I lost my stylus for my phone and that lollipop works like a charm, but I can't break off the candy part because then the stick might get stuck in my phone. I need to get a new phone anyway since it's really old and doesn't work so well. I didn't want to get a new stylus.

OK, my husband and kids are silent. The kids are still angling for the lollipop, but my husband is quiet. Thank goodness he knows how to pick his battles.

Hubby: That's really...innovative. Maybe we should have named one of our kids "Invention" and change your name to "Necessity." (Yeah I get it. Necessity is the mother of invention.) And maybe this isn't the time to bring this up, but don't you report a lot about telecom and tech?

So now I have to upgrade my phone. I liked Wired magazine's one-page graph in its July issue, page 32, that aims to answer the question in something of a tongue-in-cheek kind of way "What kind of smartphone should I buy?" If I follow the chart, it tells me to get an iPhone.

I'm not sure. That means major money, changing providers and a contract cancellation fee.
I'll keep you posted as I go on my new phone journey. It's a big purchase for me - as a reporter I'm on the phone all day, all over town.

P.S. Listen up Real Simple editors, sure I thought you were smart when you told me that I could dry a sweater in a salad spinner, but I bet I'm the first one to come up with a new technological use for a lollipop.

Saving on Energy Costs a Big Priority for Small Biz Owners

Saving on energy costs is a big priority for small business owners, shows a new study from the National Association for the Self-Employed.

50 percent of micro-business owners have made efforts to reduce their energy costs by implementing energy-saving measures in their home and business, according to the data.

40 percent of respondents indicated they had implemented energy-saving measures in their home only, while only nine percent of respondents indicated they had not undergone any energy-saving changes in their home or business.

49 percent of survey respondents indicated they were willing to undergo and pay for the implementation of energy-saving measures in their home and/or business. Of those that were unsure or unwilling to implement these measures, 46 percent indicated that this was due to cost.

59 percent of small business owners believe that policymakers should prioritize a national energy policy.

80 percent of survey respondents favored tax credits to individuals who implement specific energy-saving measures in their homes

76 percent favored grants and tax credits to small businesses to help them afford implementation of energy-saving measures in their business.

60 percent favored increasing the use of nuclear power and the creation of new power plants

61 percent favored tax subsidies to energy companies to encourage the expansion of alternative energy sources.

58 percent of respondents opposed the creation of a cap-and-trade system that would limit emissions of greenhouse gases.