3 Myths of Small Business Financing

#1 – Small business loans are readily available through the local bank.

Small Business LendersI’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.

Continue reading