Archive for category Small Loans
3 Tips to Help You Get Started
Posted by adoex in Business Loans, Small Loans on April 13, 2012
If you own a small business, you have probably already thought of a dozen ways that you could utilize small business loans. Buying equipment to expand, advertising and consultants all can cost a good bit of up front cash that you may not have. No matter how small the business, loans are a way to get the capital you need to see you through hard times or to capitalize when times are good. Let’s get started.
Tip #1 – Develop a Business Plan
Make a business plan for the loan. Lenders want to see that there is a plan for the loan. They want to analyze your plans to see if there is enough return on investment for you to repay the loan. Without a proper plan, most traditional lenders will reject your loan application outright. If your application does get rejected, even though you have a business plan, be sure to ask the particular banker how to make improvements to your business plan to increase your chances next time.
Tip #2 – Keep Good Records
You should be ready to release information about your business. Make sure that your books are in order. This is important for traditional and non-traditional lenders. Non-traditional lenders see your income in the same way as a short term lenders see an individual’s job. If they see that your company pulls a profit, they are far more willing to loan money. Your records need to be complete and be ready to explain any perceived problems. Proper record keeping can make the difference between acceptance or rejection of your loan application.
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Are You Eligible For The Canadian Government Small Business Loan
Posted by adoex in Business Loans, Loans, Small Loans on December 27, 2011
Many business owners in Canada in the SME sector aren’t fully aware that they are already qualified to take advantage of the SBL loan program in Canada. The Government Small Business Loan is an initiative of the federal government in Canada that helps thousands ( in fact over 7000+ in 2010 ) of Canadian businesses to securing business financing on terms that rival those of the big boys when it comes to attractive rates, and structures.
There are many misconceptions about the program and that is why we feel quite sure that you may already qualify and probably just didn’t know it! Let’s examine some of these very basic and reasonable qualifications of the program, and let’s help you maximize the benefits already utilized by thousands of firms just like yours.
‘Government ‘ isn’t necessarily the most popular word at any time when it comes to your day to day business. However, that’s misconception number 1, simply that this loan program is in fact operated in the private sector, by Canadian banks, not the government directly. So where does the government come in then?, ask clients. Simply that they are in fact guaranteeing the majority of the loan. Actual funding is done through your bank.
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