Although the process is complex and frustrating, raising capital is the most basic of all business activities. When looking for financing, there are various sources to consider. For most new businesses, the main source of capital comes from savings and other forms of personal resources. There are better options available than credit cards that are […]
You must know the exact amount of money that you need, what your purpose is and how you will repay it in order to be successful in getting a loan. You must convince the lender in a written proposal that you are a good credit risk. There are two basic kinds of loans, although terms […]
The bank official who reviews the loan request is focused on repayment. Most loan officers request a copy of your business credit report to determine your ability to repay. The lending officer will consider the following issues while using the information you provided and the credit report: Have you invested at least 25% or 50% […]
The following main points should be contained in a good loan proposal: General Information Reason for the loan: the exact purpose of the loan and why it is necessary. Amount needed: the specific amount needed to reach your goal. Business name and address, names of officers and their social security numbers. Description of Business Describe […]
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