Monday, April 12, 2010

Financing your small business

When you have self-discipline and a product or service you can sell, starting your own business can be both profitable and fulfilling. Building a successful small business requires capital. There are various sources to get money to start and running your business. Banks, savings and loans, and commercial finance companies have long been the major sources of business financing. If you're confident about your business, business loansis a more attractive source of money.

A great way to get money to running small business is through the Small Business Administration (SBA) program. The SBA is a federal agency that can help small business to get business loan. The SBA does not provide loans itself, but helps businesses secure loans from banks by guaranteeing them. In other words, the SBA promises to repay the loan if the business defaults. Eligible small businesses must be independently owned and operated and engaged in non-investment, non-speculative, and legal activities.


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