Whether you are already in business or you just about to start a profitable small business, your access to finance is imperative to the survival of your business. Knowing how to get financing for your small business will greatly improve your success in business.
This article will help you to position your self in such a way that you will be able to properly separate your personal credit from your business credit. This will in turn will help you to have money at your finger tips and also get loans at better interest rates. If your business credit is different from personal credit, you can obtain good business credit no matter how bad your personal credit is.
In this article you are going to learn how to get financing for your small business; whether new or existing , and also know how to get it fast. The following tips will be of immense help:
1. Do not wait until you need business credit before you start building credit worthiness. Start building the business credit line, and have the financing available prior to when you need it.
2. Realize that you need money to make money. The rich get richer because they have access to working capital which the poor do not have. When the opportunity of a life time comes, they happily embrace it because they have the capacity to fund it. They have access to money whether it is their own or or other peoples money, the truth is that they have access to money. Therefore, it is important that every business owner have access to money. Small business fails not because they do not know what they are set up to do, but largely because the do not have access to funding.
3. Separate your personal credit from your business credit. None of your business debt shows up in your personal credit file if you do this. The main reason for building your business credit is to obtain funding.
4. Build your asset base
5. Know the right steps and the right process to build your business credit:
· Keep your record straight
· Be in a marketable business
· Get a corporate account
· Get your business registered
6. Know and approach the right bank or financier. The bank is in the business to lend and make money, and they make more money by lending. If you can demonstrate to them that you are responsible, they will lend more money to you.
7. Have a good business proposal and feasibility report.
To your business success!
This article will help you to position your self in such a way that you will be able to properly separate your personal credit from your business credit. This will in turn will help you to have money at your finger tips and also get loans at better interest rates. If your business credit is different from personal credit, you can obtain good business credit no matter how bad your personal credit is.
In this article you are going to learn how to get financing for your small business; whether new or existing , and also know how to get it fast. The following tips will be of immense help:
1. Do not wait until you need business credit before you start building credit worthiness. Start building the business credit line, and have the financing available prior to when you need it.
2. Realize that you need money to make money. The rich get richer because they have access to working capital which the poor do not have. When the opportunity of a life time comes, they happily embrace it because they have the capacity to fund it. They have access to money whether it is their own or or other peoples money, the truth is that they have access to money. Therefore, it is important that every business owner have access to money. Small business fails not because they do not know what they are set up to do, but largely because the do not have access to funding.
3. Separate your personal credit from your business credit. None of your business debt shows up in your personal credit file if you do this. The main reason for building your business credit is to obtain funding.
4. Build your asset base
5. Know the right steps and the right process to build your business credit:
· Keep your record straight
· Be in a marketable business
· Get a corporate account
· Get your business registered
6. Know and approach the right bank or financier. The bank is in the business to lend and make money, and they make more money by lending. If you can demonstrate to them that you are responsible, they will lend more money to you.
7. Have a good business proposal and feasibility report.
To your business success!
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