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Home Business Financing

Small Business Loans

Finance your home business dreams with a small business loan by researching banks, credit unions, and other lenders. Achieve business success and investigate online small business oriented directories listing loan providers, including vendors of unsecured business loans. Also consider lines of credit and learn appropriate uses of small business loans.



Home Business Loans

According to Business.gov:

SBA is not the only source for small business or personal loans. State and local economic development agencies and numerous non-profit organizations provide low-interest loans to small business owners who may not qualify for traditional commercial loans.

While every loan program has specific forms you need to fill out and documents you need to submit, you will likely need to submit the same information for different loan packages.

Before you start applying for loans, you should get some basic documentation together. The following are typical items for any small business loan application:

  • Loan Application Form
  • Personal Background
  • Resumes
  • Business Plans
  • Credit Reports
  • Income Tax Returns
  • Financial Statements
  • Bank Statements
  • Accounts Receivable and Accounts Payable
  • Collateral
  • Legal Documents

Small Business Financing

According to the U.S. Small Business Administration:

All businesses require some form of financing. An integral component of starting a successful business is raising sufficient capital. There are many challenges here, but numerous resources are available to help you. Accounting for the following items can provide a good first step in the business financing process:

  • Start-Up Costs - Plan for the initial expenses your business will have.
  • Estimating Costs - Learn to anticipate your initial business cost.
  • Breakeven Analysis - Know when your business breaks even and when you can expect a profit.
  • Financing Basics - How do you plan to finance your business? This is especially important for new enterprises.
  • SBA's Role - What the SBA offers to help your small business grow and profit.
  • Equity Capital - Learn about the pros and cons of offering stock.
  • What's A Surety Bond? - Learn what a surety bond is and if it can help your business.
  • Learn About SBA's Surety Bond Program - Detailed explanation about how this program operates.
  • Handling Finances - It is essential for the business owner to know how to manage his/her finances.
  • Personal vs. Business Finances - You must know your personal finances and credit before starting out on your own.
  • The Benefits Of Making Your Banker Your Friend - Cultivating a friendly relationship with your banker will benefit your business in many ways.
  • Borrowing Money - Know the essentials in borrowing money. Can your business afford it?
  • Fair Credit Reporting - Learn where your credit report comes from and how it affects your loan prospects.
  • Credit Scoring - Know how the bank uses a credit scoring system to determine their acceptance of your loan application.
  • Credit Factors - The basic elements examined in every loan application.

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