Editor’s Note: This is a guest article from Rick Glaser
Financing is so important to small businesses throughout the United States, and much of the world. In order to expand, hire more people, or sponsor a special event, you will need money to do so. With most small businesses earning less than two hundred thousand dollars per year, these business professionals need to turn to alternate sources.
Where should you start?
There are many different ways to go about getting the financing you need. The first thing to consider is how much you will need. If you are getting a business loan, the last thing you want to do is not get enough capital. If anything make sure that you get more funding than you think you will use. The first place you can go is to a few online resources. score.org, businessfinance.com, and sba.gov are a few places to start.Once you have enough knowledge to talk the talk, it’s time to go to a bank. I usually don’t recommend using an online lending company for your working capital needs. This is because you don’t know how much you can trust them. How long have they really been in business? Any many other questions you might have. Well, you can ask them but is the answer an honest one?Once you have discussed things with you banker, fill out the paperwork, and pray that your business credit is good enough to get approved.