San Ramon, CA (PRWeb) December 19, 2006 -- Last week the Small Business Association (SBA) released a study on small business loans. In June 2004 and June 2005 the number and the dollar amounts of small business loans rose 25 percent. Businesses have more outstanding debt, especially the smallest businesses (under $100,000). The figures accounted for all commercial lending institutions, not just SBA loans. Much of the debt was on credit cards.
Access to credit is critical for buying a small business. You'll need capital to buy the business, hire employees, maintain inventory, and fund future growth.
A credit card is the most expensive type of credit and carries unnecessary risk. If you use your personal credit you may not have enough left for personal emergencies. This can jeopardize your personal and business stability. If the business fails, you can lose everything. You will have to pay back the loan and lose personal as well as business assets.
Most buyers require some kind of business purchase financing. BizBuyFinancing.com specializes in larger SBA loans (amounts between $400,000 and $5,000,000). BizBuyFinancing educates and guides buyers through the process of applying for and obtaining an SBA loan.
The SBA does not allow credit cards or borrowed money as down payment on an SBA loan. Too much credit card debt can raise your debt-to-income ratio too high, and jeopardize your chance of getting a loan. Instead, structure the loan so you have adequate working capital.
Buyers often go directly to a lender for a small business loan. This is a mistake, as 70% will be denied.
"Small business buyers often choose the wrong lenders for the type of business they want to buy. They may not understand or appreciate how important it is that the loan is structured right. They don't get enough support and direction during the loan process," says Peter Siegel, owner of BizBuyFinancing.com and author of the book Businesses for Sale - How to Buy or Sell a Small Business.
While most people are aware of the SBA, they may not know the critical details of how to get SBA loan financing. Each bank has their own preferences and criteria for approving or denying SBA loan applications. Buyers are usually not aware of the criteria and the requirements change frequently. BizBuyFinancing.com has long working relationships with SBA lenders. As a result, 90% of potential borrowers who use BizBuyFinancing get approved for their SBA loans.
BizBuyFinancing Business for Sale Online Academy offers free weekly workshops to help potential business buyers prepare to get SBA financing quickly and efficiently.
Find out how to finance your small business purchase without utilitizing risky credit. To see the schedule of live webinars, go to www.BizBuyFinancing.com/education. When it's time for the webinar to start, click the "Join This Session Now!" button.
About BizBuyFinancing
Established in 1991, BizBuyFinancing specializes in obtaining SBA Loans & Conventional financing nationwide for the purchase of small to mid-sized businesses. Loan sizes range from $400K to $5M. More SBA loan tips and information can be read on the Business Finance Blog at www.BizBuyFinancing.com/blog.
BizBuyFinancing holds weekly webinars to help educate business buyers in the successful completion of an SBA loan. The webinars are free and open to the first 40 people who join the call.
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Being pregnant is one of the most joyous and happy times in a woman's life, although having to buy plus size maternity clothes is certainly something no woman really looks forward to. Having to buy plus sized clothes is bad enough, but plus sized clothes with room for a huge belly? Forget about it, right? Luckily, there are some fabulous plus size maternity clothes out there that are fashionable and can make you look great, no matter how plus sized or pregnant you may happen to be. Who said big girls can't look great in their clothes? Plus sized maternity fashions just got that much cooler!
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Pregnant women range in size from petite to extra large. A lot of women require plus size clothes as well as plus size maternity clothes. These can be difficult to find compared to maternity clothing for normal size women. Also, these special size clothes can be expensive. However, it is possible to purchase maternity clothes that are reasonably priced.
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It used to be a challenge to be a pregnant plus-size woman. Fortunately both local stores and online shops now stock plus size maternity clothes. If you look carefully you also should be able to find good sales on maternity clothes that will help you maintain a budget. Keep in mind that, after all, these are only temporary clothes.
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