There are always three sides of the story. One is your side , second the other side and third the TRUTH. The truth is simple, without complexities to engage into. Let’s assume you’ve got the best idea to start your business but the question is how are you going to get the business loans? A. Could it be your own money? B. Through family and friends? C. Bank resources?
When you consider paying yourself, you could be paying to get bank robbed . Most people put their personal assets on stake rather than finding another way which can cause harm not only to their personal property but their small business as well. If you’ve considered seeking your fiscal support from family and friends then you’re willing to put your relationships on stake. In case the down fall of your small business, you may lose their money and their longtime support.
Before you start a business you like other may consider getting a business loan from a bank. As private investors are hard to attract for investing in your small business. Most businesses who have started they’ll need a combination of money to sail through the begging process.
On the other hand , every day 33,000 bank loan requests are rejected by the banks ( courtesy of an SBA report) . Small businesses need the support that allows surpassing every bank with a vast emphasis on fast cash flow, allowing you to increase working capital. And business loans gives you access to say no to peer to peer lending, No tax burdens, No perfect credit history ,No repayment head aches, and easy renewals.