You want to start a home party business. You want to be able to do a kid's birthday party, a professional after-hours office get-together, or a formal sit-down dinner for twelve. You have the personality, the desire, the management skills, and the professional ethics to run such a business. You even have a ready-made list of clients-enough to keep you busy every weekend for a couple of years. What you don't have is the money to get going. You need catering equipment, dishware, and silverware-the kind that's made of real silver. You also need children's inflatable bouncers, helium balloon tanks and portable playground equipment. The list is a long one-and expensive- because you want to be diverse in this home party business. The good news is that small business loans are available for entrepreneurs like you.
So where does a fledgling business owner go to borrow money for all of this new equipment? The Small Business Administration (SBA) is a good place to start. The U. S. Government created the organization to assist small businesses that are in search of financing. The SBA doesn't make loans itself but it can match you with lenders who are willing to take a chance on a small business like yours. And it guarantees a portion of the loan, making it more attractive to potential lenders.
Financial institutions that partner with the SBA often offer better terms on their small business loans to new entrepreneurs because they know that their loans are guaranteed by the SBA. Those better terms can include lower interest rates, longer repayment schedules, and smaller monthly payments. Such lenders often do not require collateral from their borrowers, either. This is especially important in a small business such as yours because most of your potential collateral wouldn't be tied up in one large, expensive item, but in many items of lesser value.
So what types of small business loans can you find through the Small Business Administration? Here are just a few to consider:
The bottom line is that a small business doesn't have to try to secure some type of corporate credit through large lending institutions. Nor do the owners need to invest a lot of time in researching private lenders or other options. The Small Business Administration has a wealth of expertise where small business loans are concerned, and they stand willing to help you secure the funding that you need. And not only can the SBA hook you up with the capital you need, but they offer counseling services as well. That alone can be well worth making contact with them.
With the SBA, you will find that you're soon on your way to providing those parties or any other type of service or product you're interested in providing. And if all goes well, you and your investors can then party all the way to the bank.
Corporate Credit Concepts specializes in small business loans. For more information about small business loans and how it might benefit your business, please CLICK HERE for a free phone consultation.