Small Business Financing Tip: Use Common Sense!

More and more small business owners are getting burned by excepting one-size-fits-all, cookie cutter loans that make absolutely no sense for their particular business. Many affiliate small business loan websites promote the trend of "shopping" loans, which is probably the worst advice anyone can give you. Not to mention, countless small business owners are passing up legitimate financing options, always in search of something better, yet more often than not being led down a dead-end road. It's important to remember that small business financing is meant to be an individual solution that fits your specific business, business model and goals. If you are being pitched loan products by someone who knows nothing about finance, your business, cash flow model or future goals, RUN! Business loans are NOT meant to be bought, sold, or haggled over. So, before you start filling out countless applications and forwarding your financial information to anyone and everyone promising a "better rate," consider your business' complete financial standing, the purpose of the loan and just how 'shopping' for the best rate could negatively affect your credit standing and the future of your business.

 

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