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In: Center For Small Business Finance

A Small Business Administration loan is an alternative to going directly through the bank. Sole traders can still have employees, a sole trader is someone who is classed as both the owner and operator of their business – there is no distinction between ownership and management. The benefit of this kind of loan is that you can generally be approved quite quickly, as a sole trader is a much simpler business structure. Something to seriously consider, however, is that if you cannot make the loan repayments, you will still be liable for the debt – not your business as an … Read more

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In: Small Business Equipment Financing

Personal expenses – You should never use business loans to cover personal expenses. Knowing what business loans can be used for is essential if you want to grow. As a business owner, you always want to be prepared for anything. Assuming a new customer has an excellent credit record and you’re happy to supply your goods or services, you now have to make sure they understand the terms under which you agree to do business. Although a verbal exchange might be used to initially agree your payment terms, you should make sure that is followed up with watertight payment terms … Read more