Tag Archives: business loan

8 Factors That Keep You From Getting a Business Loan | Business news Daily

Business loans can be essential when you’re launching a startup or looking for additional funding to expand an existing company. The funds are used to secure inventory, purchase equipment, rent operational space, hire employees or cover a host of other expenses.

According to a report by the National Small Business Association, in 2017 nearly three-quarters of small businesses were able to access the funding they needed to grow. However, financing remained a challenge for 27% of U.S. businesses. According to the NSBA report, businesses that were unable to secure capital had to take difficult actions, including reducing the number of employees and deciding not to expand operations, finance increased sales, or increase inventory to meet demands.

Since loans can be so critical to your business success, it is worth learning the most common barriers borrowers face when looking to secure a business loan. Once you learn about these roadblocks, you can take the steps to circumvent them and find the right type of loan and lender for you.

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3 Tips for Negotiating a Business Loan | Business News Daily

You can’t start or grow your business without funding. Unfortunately, applying for and getting a business loan isn’t a fast or stress-free experience.

Applying for a loan is one of the most crucial steps for a small business owner. To give yourself the best chance of getting approved, follow these tips for negotiating and ultimately getting a business loan.

1. Do your homework and go to the right banks.

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Are You Financially Ready to Start a Business? | Getentrepreneurial.com

Starting a business could be your next step toward financial and personal freedom. But obviously there’s a lot to think about before in dive in.

First of all, is this the lifestyle you want to pursue? Second, do you have enough money to get started? Use the financial essentials below to help you determine whether launching a business makes financial sense for your future.

Look at Your Personal Financial State

If you’re trying to open a company, you’ve probably been setting money aside. Even if they’ve been doing this, most business owners still have to take out a loan, but your savings should substantially reduce the personal financial burden.

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How to Get a Traditional Bank Loan for Your Business | Business.com

Whether it’s for operating costs, expansion or to pay off debt, being able to access additional capital when it’s needed most can be critical to the survival of your business.

A study from researchers at the University of Texas at Austin; the University of California, Los Angeles; the Massachusetts Institute of Technology; and the Universidad de Piura discovered that a loan of just $11,000 can increase a business’s three-to-five year survival rate by more than 50 percent.

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5 Items Your Books Need to Balance Before a Capital Raise | Getentrepreneurial.com

Unless you are an accountant, the last thing on your mind is probably bookkeeping.  However, whether you like bookkeeping or not, it is important to the health of your business.  This is especially true if you are looking for a business loan, as you will need to ensure that the following 5 items are balanced before you can receive a capital raise.  So if you are thinking about how to get a working capital loan, then you need to read this article.

1.  Taxes Payable

We must pay our fair share, but the tax laws exist for the benefit of small business owners.  I realize some of you are doing a double take after reading the previous sentence, but it is true.  The tax code helps small business owners to offset the investments they have made in their business in the form of tax credits.

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