“Do what you love and love what you do. I didn’t invent the saying, but I use it often,” shares financial coach and entrepreneur Maria Randall. A few years back, Randall turned 17+ years of federal loan knowledge into her small business dream. As the CEO of LLADNAR Services, Randall uses her financial expertise, nationwide network, and knowledge of Small Business Administration (SBA) loans to lead entrepreneurs toward capital.
LLADNAR Services provides expert loan advisory and packaging services for small businesses. The firm offers personalized financial assessments, document preparation, and strategic guidance to help clients improve their chances of securing the right loans. Whether you’re just starting out or planning for expansion, Randall’s tips will reaffirm your purpose and help you love what you do.
Determine your eligibility for specialized loan programs
“Lenders aren’t one-size-fits-all. Every lender seeks loans that fit certain parameters,” advises Randall. In her experience, some lenders seek applicants with specific thresholds of equity or cash flow; others favor businesses from certain industries. Researching lenders that seem like the right fit will save you precious time and resources.
As a Community Development Financial Institution (CDFI), FSC First is mission-driven to lift small businesses poised to create economic growth and social impact within their communities. CDFIs offer targeted programming, personalized counseling, and a range of resources that pave the way for prosperity.
Plan ahead in 2025 for stronger tax returns in 2026
Lenders want to see consistency and stability when you approach them for loans at any stage of your business journey. Strong tax returns will help you make a more compelling case when asking for funding. Prioritize tax preparation now to create a financial package that’s attractive to lenders. Improve next year’s tax returns by making sound choices and stepping up sales to improve your cash flow. On May 5, FSC First’s Level Up program will offer Tax Planning for the Year Ahead: Thinking Beyond April 15, a virtual session facilitated by tax practitioner Hope Brown, MSA. Sign up here.
Choose a space that is appropriate to your business stage
If you’re just starting out, business incubators like the Bowie Business Innovation Center and the Prince George’s County Innovation Station Business Incubator offer affordable space, on-site support, and shared resources. When you set your sights on expansion, be aware of the leasing or purchase costs that are involved before approaching a lender. If renovations are necessary, secure contractor quotes in advance so you can request exactly what you need from lenders.
Research market rates for new hires
Growth is every business owner’s ultimate goal, so expand your team when your budget allows. To determine whether you’re ready to hire, research the market rates for the positions you want to add to your team. Competitive compensation helps you attract qualified candidates and supports employee retention. Understanding appropriate compensation ranges can help you figure out the right time to grow.
Continually pursue knowledge
“FSC First’s Level Up program supports entrepreneurs at every phase of the journey,” Randall observes. “They put in a tremendous amount of energy and resources to help people succeed.” The ongoing training, coaching, and networking opportunities offered by the Level Up program help entrepreneurs improve decision-making, make connections, and remain current with industry trends. Review Level Up’s exciting lineup of spring programming here.
Revisit your business plan
“A business plan is intended to be a living, breathing document,” she explains. As a roadmap for your business, your plan may change course over time, but it’s crucial to refer back to your initial vision and keep it alive.
Whether you’re just starting out or looking to grow, we hope these tips inspire you to build a business that combines your passion with profitability at every stage!
