Home Advertise Contact Blog Advertiser Login High-Yield Investments
Newsletter Signup

Business Opportunities
Change Your Life Get Into Business For Yourself Online Business Opportunities
Home-Based Business Opportunities
Licensee Opportunities
Low Cost Opportunities
Distributorship Opportunities
Home-Based Businesses
Choosing a Business Opportunity Growth and Profit Marketing and Sales
Plans and Goals Running Your Own Business Start-Up
Working From Home Entrepreneur Exchange Feature Articles
Opportunity Community Opportunity Focus In The News

Expanding Opportunity Services - It has always been our mission to provide the best customer service possible and have recently added no cost training and coaching sessions for all active advertisers. Now, we are going a step further to address the one major problem faced by opportunity owners–lack...

Drone Technology - Don’t think drones and franchises and businesses opportunities have anything in common? Think again. Drone technology is transforming the way many industries tackle a wide range of everyday services.

Drone Technology - Here is a look at how drones are impacting the way businesses...

Better Salespeople - “One thing I do know is you have to be able to sell if you own almost any type of opportunity and if you can't you should hire someone who can. Problem is what type of person makes the best salesperson that you can count on and why?", says business opportunity...

Business Opportunity for Sale

Sponsors

Get a piece of the BILLION DOLLAR APP INDUSTRY! LOCK IN A TOP POSITION. Click of Call Bill Toth Phone: (716) 345-1888
Need To Fill Positions Fastest Growing, All Inbound Call, Direct To Consumer Distribution Team In The USA! 217-718-4744
This Featured Article is live on our blog and I know could be very insightful for connectivity and ROI.
If you're a successful entrepreneur who provides others like you the chance to follow in your footsteps... Read On
When one of your busiest marketing channels limits you to 140 characters, you know that the internet sets its own rules.
Residual Income is the way that you work once and get paid multiple times—sounds great!... Read On
It’s not uncommon for an individual to have a desire to open and operate their own small business opportunity.. read on
Working-At-Home is easier said than done I know. Is this you though? Do you want the freedom of running... Read On
Be A Distributor
Work-at-Home
Small Business
Resource Center > Article
Preparation Key When Securing Small Business Loans (Part 2)
20 May 10 Posted by: Kathleen C Lanza
in Start-Up
Share this Article:

“According to a survey by Arthur Anderson Enterprise Group among businesses with up to 19 employees that got (startup) funding, the sources were: 68% bank business loans, 22% leasing, 16% vendor credit, 12% credit cards, 9% private lenders, 6% personal bank loans, 3% private stock sale, 2% venture capital and 9% other.”

Good news!  Those are a whole lot of options to explore, and it’s worth noting that big banks aren’t the only game in town.  So, even though it isn’t necessarily easy to obtain the money you need for your small business opportunity venture, you shouldn’t give up too soon.  Know that by following some simple steps, you can dramatically increase the likelihood of finding the lender and loan terms that are just right for your needs.

Moving on from my last post which focused on documentation requirements…

The next step is an obvious one and you will do well to prepare yourself for this particular hurdle that any lending institution will force you to face: Can you pay them back?

The bottom line is that it’s your responsibility to assure them you can. All of the preparations you go through in creating your loan presentation is tailored to this challenge. You must persuade the lender to give you a loan.  And this is successfully achieved through a carefully delivered presentation.

“(How you go about) recommending your proposal to the loan officer and the loan committee is essential. If you don't believe in it, no one else will.  Your recommendation may be brief.  Recap all of the strong features of the deal and state that granting your loan is prudent.”**

In other words, you need to believe in what you’re doing and convey that passion with conviction.  The loan presentation is your “make or break” moment, so make the most of it!

You’re an entrepreneur after all, so you’re inherently a bit of a risk taker.  Look at your presentation as the gamble of a lifetime, one you can’t afford to lose.  You can appreciate a good risk/benefit analysis, right?  Banks and lenders are in the business of calculated risk, just like you are.  They deal with that very equation all day long.  Their job is to choose individuals who offer them the strongest likelihood of realizing a return on their money.  So, look at things from their perspective.  Ask yourself, “Am I a good risk?”  Really think about it. Many don’t, and they end up paying for it.  They don’t get the money they need and are shocked when things don’t go their way.  If you think you are a good risk, get ready to defend yourself.  Be steadfast in your conviction and back it up with hard facts.

As mentioned in Part 1, it’s critical that you convey a clear sense of what you plan to do with the money you receive.  How and when do you plan to spend it?  And how about  why and with what goals in mind?  What are the potential returns on the investment you will make?  How reasonable are they, and in what timeframe?  If you can effectively answer these kinds of questions, there’s an increased likelihood that you’ll get to the next step in the lending process.

The final step in the process often involves what kind of collateral you have to “secure” the loan.  Most lenders want something more than just your good word and a firm handshake.  Unfortunately, even a strong business plan with every single “t” crossed and “i” dotted can’t always make up for a lack of collateral.

Collateral refers to the tangible assets that you are willing to put up to secure the loan.  These can be things such as a car, boat or property which are fully owned by you.  If you have a car, but are continuing to make payments, don’t even consider tossing it in as collateral because that’s just not good enough.

An additional plus is showing that you are personally willing to invest in the business, even if it is at a fraction of the money you seek from the lender.  No matter the amount, it shows the prospective lender that you're committed to your own enterprise.

Experience also goes a long way with many lenders to help close the deal. If you’ve had previous success in any business, paint a clearer picture of your business acumen.  Be well prepared to talk about yourself in great detail.

So there you go…Small Business Loan Guidance 101.  Hope it helped.  Remember, preparation is everything!  Your chances of getting the loan you need improve greatly if you do two key things: 1) have your document ducks in a row, and 2) alleviate any concerns the lender might have about loaning you what you need.

**As cited online at Article title: “How to Make a Winning Loan Proposal (A Business Plan Designed for Getting a Loan Approved)”

Live On Your Own Terms
Related Blog Posts
8 Jun 16 Posted by: Kevin James Culp
in Start-Up

Commercial Property 101: Leasing commercial space can be hugely beneficial for your business and a great way to cut down your overheads.

However, there are lots of things you need to consider before leasing a commercial property to ensure that you’re making the right decision for your business....
Live On Your Own Terms
19 Apr 16 Posted by: Todd Hatch
in Start-Up

StartUp Marketing - There is a wave of sheer exhilaration that comes with finishing your product or getting your startup to the starting line. But according to many entrepreneurs, that’s when the real work begins. People need to know what you have to offer before you can make money.

StartUp Marketing...
Live On Your Own Terms
28 Mar 16 Posted by: Kevin James Culp
in Start-Up

StartUp Financing: Are you having trouble getting people to buy your expensive products or services? Whether you are offering a business opportunity or a franchise, you are not alone.

StartUp Financing: Even after your target audience is sold on the worth...
Live On Your Own Terms
29 Dec 15 Posted by: Kevin James Culp
in Start-Up
Funding is the lifeblood of any business. The principle reason entrepreneurs put off starting their own business is lack of it. Raising funds from venture capitalists, friends and family is fraught with danger and is often very time consuming. Funding your business by mortgaging your home is risky too....
Live On Your Own Terms
14 Dec 15 Posted by: Kevin James Culp
in Start-Up
Who are the types of people who buy a business opportunity or small franchise According to people in the field, this type of career move appeals to a wide range of personalities. If you’re worried that you don’t have what it takes, relax....
Live On Your Own Terms
Featured Listings
Entrepreneur
Be Your Own Boss

The Billion Dollar Salesman -Serving the World for 28 Years! I’ve truly lived a blessed life and I have also been fortunate to have many mentors that provided me with guidance and motivation. As a result of learning how to do things the right way the companies that I’ve owned have generated just...

Read More

Opportunity Video Spotlight

United Games! The first and only business that will pay you 24/7 365 days a year when people are watching NFL, NBA baseball, soccer, cricket, rugby, hockey in fact any major sport anywhere in the world.

Premium Sponsor


Are you looking for a cool way to make money? For over 38 years, Sno Shack has been dedicated to creating quality shaved ice—in both equipment and flavors. With our low startup costs and high profit margins, Sno Shack works for everyone! You can customize your business to make it as large or as small as you want it to be. Click Below to learn more about starting your Sno Shack today! You can also call Sno Shack (1-888-766-7425) let us know you are interested and we’ll get the ball rolling!

Sno Shack is the cool way to make money! Use your Sno Shack as a fun summer job, a way to teach your children the importance of hard work and responsibility or as a way to earn extra income. Whether this is your first time owning your own business or you are a seasoned entrepreneur, we know you will fall in love with this business opportunity just as much as we have!