9 Things You Must Do To Maximize Your Chances Of Obtaining A Small Business LoanWritten by Neil Best
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6. 3 Years financial statements. You will need to present quality financial information from your accounting software, preferably signed off by your accountant or tax advisor. 7. Latest Set of Management accounts. Again produced from your accounting software. 8. Accounts receivables (debtors) and payables (creditors) ageing reports. 9. Principals financial statements. – Particularly required if some form of security is necessary. If you are a new company, emphasis is going to be on your business plan , and security (also called collateral) you or your business can provide against loan. You must take time to practice presenting your case to bank or lender to iron out any glitches. Practice on your colleagues and family (you never know, they might be so impressed, they'll invest or lend!). It may help to role play lender and come up with as many pointy questions as possible. The more time you take better your chances will be. (But remember, don’t fall into analysis paralysis trap!) Good luck!
This article was written by Neil Best, an accountant with over 15 years experience in business finance. The article and other useful business finance information including sample business plans and how to approach potential investors can be found at Small Business Finance Tips
| | Cut Your Taxes And Receive a $5000+ Refund - Start A Home Based BusinessWritten by Theresa Johnson
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Coastal Vacations – www.closethesale.netfirms.com AmeriPlan USA – http://www.deliveringonthepromise.com/tjj33 List of Home Businesses - www.homebusiness.com The next step is to Develop a Business Name. The name you choose for your business will depend on what type of business you would like to open. Pick a name that describes your business and tells something about who you are. Your local government office can help you get your name registered in state you reside. Note: this step is not necessary if you decide to start a small home business. If you need additional help go here - www.sba.gov and www.familyhaven.com Now, once you have completed first two steps you are ready to start promoting your business. This process can be a bit tedious, but in end it is well worth it. Here are a list of sites that can help you promote your business via Search Engines, Directories, FFA Sites, Email Marketing and Classified Ads: www.google.com, www.addme.com, www.sendtronix.com/aff/999, www.adlandpro.com THIS STEP IS THE MOST IMPORTANT!!!! KEEP RECORDS OF ALL FINANCIAL TRANSACTIONS RELATED TO YOUR HOME BASED BUSINESS. There are literally thousands of deductions you can take as a home based business. These deductions alone can add up to a substantial refund at end of each tax year. Accurate record keeping is essential. Every transaction you make in relation to your business could result in a large tax refund at end of year. Keep record of everything…advertising expenses, monthly membership expenses, travel expenses, electricity, heat, rent/mortgage expense, water, telephone, equipment purchased, repair and maintenance, etc. There are a number of applications available that can help you keep record (Quicken, Microsoft Money). Make sure you have this information available for your accountant or tax preparer each year. This will simplify process.
Theresa James-Johnson is the publisher of MLMMentors Ezine and owner of the Free Money Web website. You can contact her at:mailto:tjohnson.pdc@mindspring.com. Subscribe to MLMMentors Ezine and get one free ad by sending any email to: tjohnson.pdc@mindspring.com or visit www.freemoneyweb.netfirms.com for tons of free resources, moneymaking programs, and information.
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