Business Credit Cards & Business Loans

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$10,000 to $50,000 Business Loan

Getting $10K – $50K for Your Business

Anyone can use $10-50k for their business.  Even business owners who are planning for $200,000 in investments or loans can always use smaller loans.

Why not? If you have the availability to a low interest rate loan and your business can generate greater return – why not utilize the credit to grow your business even more?  Of course you may have some internal reasons not to do it (ie not comfortable with the terms, unfavorable payback options, etc) but for the most part an additional loan can never hurt if you are seeking funding to start and/or grow your business.

The Steps to Getting Financing

So what are the most important steps to get to those loans?  Where do others fail to get to them?

  1. Business Plans – it is all about planning.  If you do not have a bulletproof business plan that can be presented to a lender then do not move any further.  You don’t have time or see the value in a business plan? The answer is simple, you will not get the financing in favorable terms or sometime you won’t get financing at all.
  2. Projected Financials – at least for the first 2 years you must present the outcome of your business’s future.  If you think you will have millions in the first 2 years, from a $50,000 investment the odds are against you.  Be realistic.  If you find yourself in similar expenses from one month to another then you are not planning for everything.  Remember that each month the business experiences. 
  3. Projected Financials integrated in the Business Plan – yes that’s right, the both of these have to be combined and explained in every detail possible.  Just an annual overview is not enough, breaking all revenues and expenses down to the month and even the week is favorable.

Sounds like a handful? It is!  Getting business based loans is not easy.  Everyone wants them and lending budgets are limited.  The 3 areas described above will directly impact the amount of the loans issued to you.  Don’t take this lightly and don’t risk “winging it”.  It is always recommended to consult with a professional.  Begin your search online by contacting a business loan undewriter to see what service can help you do all three.  Keep in mind this is costly; most companies start out at $1,200.

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