2006-11-16 01:34:18 - Business Finance Made Easy?

( EMAILWIRE.COM, November 15, 2006 ) The ugly truth about making a small business a success is that it does take money. Whether it is for payroll, renting a building or space, inventory, advertising and marketing the business, it all adds up to the same thing - the need for cash up front to start and grow

a business. Unless you have a money tree growing outside your door, more than likely you will need some form of financing to accomplish this. There are basically 3 different ways to finance a small or startup business and they are:

A business or SBA Loan from a bank

Venture Capital or a Wealthy Partner

Business Credit Cards

Obtaining a standard business loan is just plain difficult. Most lenders will make you put up your house and maybe even your family to secure a business loan. a better option is an SBA Loan from a lender following the guidelines set out by the Small Business Administration . For some businesses an SBA Micro-Loan may be just right; they are loans of up to $35,000 with reduced paperwork, easier qualifications and short terms (usually 6 years). For others larger SBA Loans may be needed which are up to a maximum of $2 million, but be aware, there is a lot of heavy qualifying for a loan like this and there are fees involved with getting any SBA Loan.

Obtaining Venture Capital poses some very different challenges. First and foremost is finding Venture Capital investors, although with a little research through local real estate investment or other investment groups and online research you should be able to find some. Next you need to be prepared to absolutely knock them out with a fabulous Business Plan which will clearly lay out your specific strategies, time frames, resources and anything else necessary to all but guarantee a juicy return on their investment. If you do have a great idea and a winning business plan you may well be on your way,

but 'if you don't have everything together and want the fastest and easiest to get financing, then you need to look at getting a Business Credit Card- says Craig Potter of unlimitedcreditcards.com

The Business Credit Card industry has taken off in recent months and there doesn't appear to be much of a slow down any time soon. But it is key to identify your immediate critical business needs and match them to the credit card you would like to get. For instance, if your immediate need is cash you would want to look at a card with a high credit line (some are now offering up to $50,000 credit lines). If you have employees that need to travel, then you may need a card that allows for separate employee cards that have customizable limits for spending or reporting. There are cards for product and travel related rebates, cash back awards, fuel savings and just about anything else business related you can think of.

'If you run into a road block with your credit not being perfect, remember there could always be a potential business partner who has good credit out there.-

for more information go to: unlimitedcreditcards.com

Contact:
Craig Potter
unlimitedcreditcards.com
586-255-1870
805-243-0462 fax
Email: craigp2003@netzero.net



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