For small businesses just starting out, or for those that have been in business for a while but need funding to move to the next level, applying for that first business loan is a big step. Business loans aren’t always easy to get. Banks and other lending institutions are very careful about the loans they write – after all, they have a legal and ethical responsibility to take good care of their customer’s money.

So what does a lender look for during the approval process for a small business loan? You’ll need to show that you and your business are a good risk AND that your business idea is not only feasible, but profitable as well. Balancing risk and reward is the goal.

Once you have successfully secured business startup financing and have a sound customer base, you may well find yourself in a position where you need additional capital. Perhaps you need to hire an extra staff person with a specific skill set. Or, to keep up with orders, you need to invest in more equipment.

When you can’t raise your prices, the best way to improve your margins is to reduce your costs. Using technology to improve efficiency and productivity is one of the fastest and most effective ways to boost the success of your business.

In particular, online tools provide opportunities to maximize the efficiency of your business operations, saving time and increasing your profitability. Here are five free or inexpensive tools to save time and stay organized in business.