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Excerpt: Setting up a home-based business may be a more cost-effective alternative to setting up a major company, but it may still drain the limited resources of a small business owner. To keep the business going, small business loans will definitely be necessary. These can be availed of through credit card services. This article will show you how. First, you need to set up your home based business. Do your research on the type of business you want to establish. Find out what licensing and zoning requirements you need to meet and ensure that you meet them all. Do not attempt to…

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Excerpt: The global financial crisis has made it quite difficult for companies, especially small businesses, to get business loans. Ironically, it is also in this situation that smaller companies often need additional capital infusion to boost income. You may need to get small business loans to acquire a better business location, construct a new building, renovate your premises, pay for new equipment, fixtures or furniture or increase inventory and working capital. Most Small Business Loans Require CollateralTo get business loans, even small business loans, is a major challenge. First you need to identify which among the many types of small business…

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Excerpt: Since June 15, 2009, the United States Small Business Administration has been processing deferred payment small business loans of as much as $35,000 to be given out to 10,000 small businesses. This is covered by the SBA’s America’s Recovery Capital (ARC) Loan Program.To qualify, companies should be private enterprises that are for-profit. They should have up to five hundred employees only and should be at least two years old. Furthermore, they should be able to prove financial need with a twenty percent decrease in sales, revenue or working capital. On the other hand, they should be able to prove that…

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Excerpt: Every business loan is a risk for both the lender and the borrower. A promising business gives you the best chances of having your business loan request granted.   Lenders will usually look at your gross annual sales and revenues, credit score, checking account balances, profitability, and length of time you’ve been in business. For newbies in the business world, expect to be asked intensively about your business plans.   Your history with credit card services is a main factor for lenders. Credit information they usually look for are personal credit card debt, personal loans, liquid assets, real estate holdings, tax returns, and personal…

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Excerpt: In the midst of the global economic crisis, many small businesses are on the brink of closing down if not enough capital infusion is found. It is now even more difficult to get small business loans from banks, though. Ironically, the exact reasons why small businesses need such small business loans – the fact that business has slowed down and profitability has plummeted – are the same reasons why banks turn them down for loans.Small businesses now have to be more resourceful in finding alternatives to small business loans.Government Grants and Contracts Instead of Small Business LoansThe American Recovery and…

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Excerpt: Many small business owners have been disappointed when their applications for small business loans were disapproved by banks under the Small Business Administration’s program for America’s Recovery Capital. According to an article written by Robb Mandelbaum in the August 12, 2009 edition of The New York Times Online, “the program is off to a slow start.” It seems that most banks are reluctant to approve applications for small business loans.Mandelbaum reports that the Small Business Administration’s program has $255 million to give away, enough to give small businesses 10,000 loans reaching as much as $35,000 each. However, two months after…

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Excerpt: It is not easy for small businesses to get small business loans. Banks and other lenders require them to go through strict and complicated financial procedures with stringent requirements for qualification. After everything, credit approval is not even guaranteed. Even the financing for loans supported by the Small Business Administration (SBA) cannot meet the needs of the majority of small businesses. Although the amount of credit available for small businesses has reportedly been increased by 25% since March this year, it is not that easy to avail of the said small business loans. Small businesses seeking small business loans should know how…

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Excerpt: To achieve financial independence, experts encourage even currently employed individuals to consider entrepreneurship. Setting up your own business, no matter how small, is touted as one of the best ways toward building the foundation for wealth. Those who are concerned about having a safety net need not take the plunge recklessly. One can start setting up a small business even while employed. Of crucial use to small businesses are credit card services and small business loans. The entrepreneur needs to know how to avail of these tools and how to effectively wield them for maximum business growth. Credit Card Services A small business…