How to Obtain a Loan

During the last eighteen months, we have seen our financial picture in the world take a drastic change. It is harder to obtain a loan from your local banks. In order to obtain a loan the following criteria will have to be met. You credit score has to be in the low 700’s and have more than enough collateral to obtain a loan. Your credit score is a major part of getting the bank to say yes.

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter






For Email Marketing you can trust

Securing a Loan with Your Business Income

To ensure that your small business grows steadily, you may require funds to cover expenses and make new investments.

Here are a few ways to get a loan using the income from your business.

Get a Bank Loan

You could apply for a bank loan against your business profits. The rate of interest is usually around 6% to 9%, but you will have to put up some collateral against this type of loan. Collateral could be in the form of your business or residential property or even your business' stock.

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter






For Email Marketing you can trust

Seven Tips For Credit-Enhancing Your Business Loan

What are the avenues available to businesses with weak credit profiles or to companies pursuing credit transactions that are perceived as too risky by credit providers? Many companies apply for credit at banks, finance companies or equipment leasing firms and are routinely rejected due to the high degree of perceived credit risks. When approaching a credit provider, it is helpful to understand what can be done to reduce the risk of a credit transaction in the eyes of the provider. Never accept a credit rejection without considering credit enhancements. Here are a few tips on credit enhancement to help guide you in approaching the credit process:

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter






For Email Marketing you can trust

How to Get a Business Loan in Five Steps

Need funds to startup or expand your business? Follow these steps:

A lender looks at a loan request in three sections known as the "three C's". They are:

• Credit. Did you pay previous lenders back as contracted?
• Capacity: Can you afford to pay back this loan?
• Collateral: If you don't pay back the loan from what asset can the lender recover their principal?

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter






For Email Marketing you can trust

Educate Yourself – Loan Programs for Small Businesses

If you’re considering starting a small business, your first stops need to be MoreBusiness.com, a one stop small business resource center (type “loans” in search node) and the U.S. Small Business Administration’s website. They offer many services and tools you’re likely to find helpful.

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter






For Email Marketing you can trust

Types of Business Loans: Apply for One & Get a Financial Boost

A business loan is an amount of money given to the owner of a small business with clearly defined terms of payments, interest and a time line for repayment.

How Business Loans Help

Business loans are useful for small business owners in many ways. As a small business owner, you often need funds for many things. This can be money to start your business, for ongoing working capital, to buy things for the office or for purchasing office space.

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter






For Email Marketing you can trust

Can I Qualify for a Business Loan?

Whether you are applying for an SBA loan or a traditional bank loan, there are certain factors that improve your ability to obtain financing. This self-test is designed to assist you in understanding important issues that lenders consider when making a decision on a small business loan.

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter






For Email Marketing you can trust

Loan Checklist

It is essential that the decision to apply for a loan is based on a certain business objective. Consult business development specialists, financial advisors, accountants and others to make sure that the amount of the loan and the type of the loan will be the right ones to meet the business objective. Look for the best deal available. It is important to establish and maintain the "banking relationship" with both private and public sector lenders. Lenders are more favorable to extend credit to businesses that are well known in the local business community. Do the research on small business lending process and different loan programs.

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter






For Email Marketing you can trust

Councils planning business loans

Local authorities are hoping to lend to small businesses in response to the credit drought.

Several authorities have announced plans to implement a system similar to the one unveiled by Essex County Council last year, which intends to provide loans to local small companies which are suffering from a lack of available credit.

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter






For Email Marketing you can trust

Follow Up on the Stimulus and SBA

I wanted to follow up with our friends at SBA on which items, specifically, we should be aware of that are relevant to small business owners in terms of translating the stimulus package to action.

John Banks, Lead Business Development Specialist in the Philadelphia District Office, was kind enough to spend some time creating an informative email to me, outlining exactly what the American Recovery Reinvestment Act has in store to stimulate lending. John has given me permission to copy his email thoughts to this Blog. You will find them below.

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter






For Email Marketing you can trust

Small Firms Resort to Freebies and Special Deals

By SIMONA COVEL

Faced with a deepening recession and evaporating sales, an increasing number of small businesses are resorting to a high-risk strategy: costly giveaways and promotions to lure the reluctant consumer.

If the strategies work, these companies could have a powerful weapon in their struggle to weather the economic storm. But if they don't work, the more vulnerable businesses could find themselves in a bigger financial hole.

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter






For Email Marketing you can trust

Entrepreneurs Scramble for Financing

By KELLY K. SPORS and RAYMUND FLANDEZ

Small businesses are turning to angel investors, suppliers and personal credit cards as the financial crisis spreads to Main Street and access to commercial bank loans becomes more restricted.

After being rejected last month at two commercial banks, Education 4 Kids Inc. owner J.M. Ivler is back to financing his 5-year-old online retailer with personal credit cards. "I can't get the banks to give me a loan," complains Mr. Ivler, whose Las Vegas company is profitable and produced $350,000 in sales last year.

Brian Moran, president of magazine publisher Moran Media Group LLC, decided to sell $125,000 in accounts receivables and incur a 3%, 30-day rate on outstanding balances to finance his Paramus, N.J. company after a bank credit line wasn't renewed. The bank told him it was cutting back on small business lending to minimize risk.

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter






For Email Marketing you can trust

Stopping Foreclosure on a Business

Q: Foreclosure proceedings have begun on my small business. I would like to halt these proceedings. Can you offer any suggestions on how to handle this? —T.M., Missouri

A: What options you have at this point depend largely on the severity of your financial situation and how you've tried remedying the problem so far. Consult a professional, such as a financial consultant or a bankruptcy lawyer, who can help you evaluate possible strategies.

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter






For Email Marketing you can trust

What we can do to stimulate job growth NOW . . .

I've heard from a lot of people regarding my blog post from Tuesday – – if you haven't read it go here to get up to speed. As promised what follows are my proposals that would dramatically stimulate job growth in America.

I propose Phase II – – a "Small Business Growth Act of 2009" to jumpstart our economy into the future. Let's start by incentivizing investments into new and successful small businesses. President Obama stated on the campaign trail that waiving capital gains for those investing in small businesses was noble public policy. But sadly, this provision was missing in the recent stimulus bill. So many politicians claim to be for small businesses, yet so many seem missing when real progress is needed (we saw this recently with our politicians including cuts in fees for SBA loans in the stimulus bill when it was an access to capital problem, not a cost of capital problem that should have been addressed).

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter







For Email Marketing you can trust

Feds Launch Drive to Increase Lending

With the stated goal of generating up to $1 trillion in lending for businesses and households, the Federal Reserve and Department of the Treasury have rolled out their plan to lend up to $200 billion by the end of the month. Part of the Term Asset-Backed Securities Loan Facility (the bigger the program, the more words allotted to it), the cash infusion is aimed at "eligible owners of certain AAA-rated asset-backed securities backed by newly and recently originated auto loans, credit card loans, student loans and SBA-guaranteed small-business loans."

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter





For Email Marketing you can trust

The Fastest Way to Finance Your Small Business

When you need cash in a hurry, you will find plenty of lenders ready to loan you money at exorbitant rates. Unscrupulous loan brokers routinely prey on small business owners who find themselves in need of fast cash. But there are other options for getting the money you need quickly -- and relatively cheaply.

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter





For Email Marketing you can trust

State, County, and Local Small Business Loan Financing

There are a variety of financing programs available to help your business grow. While the Small Business Administration (SBA) is the main resource for small business owners, it is not the only one. Each state has a Small Business Development Center (SBDC) to provide management assistance to current and prospective small business owners. If you are looking to start or expand a small business, contact your local SBDC to see if they can help you. In addition, be sure to read up on Minority Business Loan Programs.

SBDCs offer one-stop assistance to individuals and small businesses by providing a wide variety of information and guidance in central and easily accessible branch locations. The program is a cooperative effort of the private sector; the educational community; and federal, state, and local governments. Here are some of the loan programs your SBDC may offer:

504 loans are offered directly through approved local economic development agencies. The financing agency is limited to 40 percent of the project but not to exceed $1 million.

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter







For Email Marketing you can trust

Five Common Credit Factors for Qualifying for a Small Business Loan

There are five basic factors that all lenders look at before they will agree to loan you money for your business:

1. Credit history. One of the primary factors lenders look at is the condition of your personal and business credit. This is reflected in your credit score. Before you even start shopping for a loan, request a copy of your credit report from all three major reporting agencies: Equifax, Experian, and TransUnion. Review it carefully for mistakes, and resolve any discrepancies before you start the application process. Learn more about Cleaning Up Your Credit Record.

Click here to read more...

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter

For Email Marketing you can trust

Unsecured Business Loans: For Your Business Financial Needs

Capital plays an important role in a business; moreover you can initiate your business with the help of capital. Business financial needs are unlimited and can creep in anytime. But at the time when you have fewer funds to deal with the expense the situation seems really difficult to solve. In such a condition the only business financial partner to trust on is unsecured business loans which without nay obligation offer finances to you. With these loans you can easily take care of and effectively handle various business expenses. Important business obligations can be easily met with the help of loan amount raised. You can:-

• Pay off wages and salaries
• Purchase tools and equipments
• Purchase raw material
• Invest in new venture
• For business expansion
• Office construction

Unsecured business loans offer a small loan amount of £50000-£100000. The repayment term is also short and varies from 1-10 years. You can advance an amount that can be paid back easily without facing problems. But your annual turnover, financial standing and credit scores might be taken into account before loan approval.

Being free from security the loan amount is provided at slightly higher rates. In the absence of security the lending risk is generally higher and lenders compensate the risk by providing the funds at higher rates of interest.

Entrepreneurs facing bad credit or having poor credit history can also apply easily. Those facing arrears, defaults, skipped payments, bankruptcy, CCJs and IVA etc. can procure these loans.

These loans can be well applied through online medium as well. If you want to fetch a lower rate deal for yourself then you can easily find by searching well and comparing few loan quotes.

Unsecured business loans get approved in less time. There is no collateral evaluation done and less of paperwork is needed. In the presence of fewer formalities the funds get transferred easily.

Source: http://www.articlesbase.com/loans-articles/unsecured-business-loans-for-your-business-financial-needs-810065.html

Online Request for SBDC Counseling

Sign up for our AWC SBDC Email Newsletter

For Email Marketing you can trust