Do you want to know the God-honest truth? Running a small business is hard. I can be honest.
I’m not going to sing songs to you or try to fill up your brains with a lot of positivism, trying to sell you on the American Way of being an entrepreneur and how the limelight and glamour will shine on your skin and make you glow like Edward Cullen getting married to Bella Swan — Vampires, we are not. That’s for sure.
#1 – Small business loans are readily available through the local bank.
I’ll start with this one because this can be very damaging for a business owner’s credit history if this process is not understood well.
In today’s credit climate, the qualifications from the major banks for a small business to get a loan or line of credit is directly related to the business owner’s personal credit, or the history of revenues related to the business, including any cash or real estate assets.