Banking and Loans
Securing a business loan is multi-faceted proposition. You must determine how much you need, where you want to borrow, and then -- there's the application. But it doesn't have to be a daunting process. Inc.com has broken it down for you, with this collection of articles to help you understand the ins and outs of borrowing. From the application process to choosing what lenders to approach -- including the SBA -- we've assembled our best resources to help you secure a loan for your business.
Apr 28, 2003
Loan Primer The Lowdown on Business Loans Loans are so common that you probably are familiar with the mechanics, but nevertheless it makes sense to review the basics. Get Help Securing a Loan There are several organizations that offer free assistance to help you obtain money through a regular bank, a private institution, or the government. Promissory Notes Whether you borrow money from a bank or someone you know, you should sign a promissory note -- a legally binding contract in which you promise to repay the money. Scoring The Credit You Need Getting a loan is a faster, more objective process than it used to be -- for better or worse.
Writing Off the Cost of Business-Related Debt Generally, interest on business loans is fully deductible against business income. But there are some limits on business-related interest deductions to consider. Getting into the Mind of a Lender When trying to get a loan, it helps to view things from the lender's perspective. A Borrower Be Tough economies and easy credit usually don't mix. So why are banks falling all over themselves to lend small businesses money? Street Smarts: Yes, a Borrower Be, but ... Manage your loan carefully or you may pay a terrible price. Credit Where Credit is Due Why community banks may well be your best source of financing in today's economy.
Getting a Purchase on Inventory Good banking relations allow Martin Guitar to buy big when needed. SBA Loans: Myths and Realities By understanding what the Small Business Adminstration does and doesn't do, business owners can be in a better position to take advantage of this often misunderstood government program. Starting from Zero: Getting a Loan from the U.S. Small Business Administration Considering an SBA loan? The SBA Loan Book, by Charles H. Green, offers advice and insights about the SBA loan process.