Small Business Financing

Written by James Kitchens
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You might be surprised to know that small businesses make up quite a large proportion of all US commerce. The fact that so many small businesses are thriving is of great benefit to the economy. After the economic slump of a few years back, it was small businesses that led the way when things started to improve in 2003. So it's not that strange that the government actively encourages support for small businesses.

Providing you meet certain conditions, you can probably be sure of getting a loan for your business start up. You basically need to be able to show your finance company that you have researched everything there is to know about starting up your company. They need to be able to see that you have some emotional capital invested in your business project. It has to be something that you've dreamed about and planned until it's all but real to you.

Answers You'll Need

Can you tell the finance company exactly what you need in the way of real estate or premises? Do you know exactly who you're going to hire? Have you sourced your supplies and planned exactly how much of each item you'll need to start? Have you sourced vital equipment that you may need? Have you added all the expenses up so that you know to the nearest few hundred dollars just how much you'll need?

These are just a few of the issues that will need to be planned very carefully by anyone seeking a small business loan. SBA loan programs are geared to small businesses and can be obtained through approved finance companies. They'll do everything they can to accommodate you providing you know exactly where you're going with your business, and what you need to do. Preparing a detailed business plan is a superb way of proving that you've got what it takes. If you are also able and prepared to invest some of you own money in your small business then this will also work in your favor.

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