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Small Business Loans Can Help You Write Your Success Story

Scene one: you are sitting on your office desk surrounded with files and work overload, you are thoroughly frustrated. You work hard and get paid. But somewhere something is lacking.

Scene two: you work for yourself; you do what you want to do. You work hard and you are satisfied. You go home a better person each day cause you work for yourself. And you definitely earn more.

You don’t even have to look at the results; votes for Scene two are definitely more. You want a life like that. But every business entails capital. Small business loans can accrue the capital you need to start a small business. With so many online sources for small business loans, you don’t need to rely on family or relatives for capital.

Homework! Yes, it is not meant for school kids only. You too have to do it, to find the right resource of your small business loans. There are a few points, the loans lender will be looking at, when he is contemplating providing you small business loans. A lender will be paying attention on your education, experience, business plan and its feasibility. Other things that are crucial are repaying ability, credit history, equity, presence of collateral.

The first things will be your ability to repay. Every loan is meant to be repaid. Loan lender wants his money back. They will look for a business that has existed for some years now. If you are starting a new business, prepare an application that will prove to them that you will repay the loan. If your business is low risk proposal, you are getting a small business loans.

Presence of collateral would provide a positive boost to your small business loan application. The financial institution would be looking for an alternative source to payback the loan. Without collateral, you would need a cosigner who can pledge collateral. Collateral can be any business or personal assets that can be sold to pay for the small business loan. The market value of collateral is not taken into account but the value which results after negating the valued lost when the collateral is liquidated.

Equity is also significant. The equity will be in the form of money you invest in your business. The loan lender will be very pleased to know, if you have invested your money in the business. If there is enough equity in your business to payback the loan, the small business loan will be yours.

The next crucial thing will be called a credit report. If your credit report is good, your small business loan application will be reaching the top of the application pile. If you have no idea what your history reveal for you – get a copy of credit report. Make sure the details given there are correct. In case there is an error, get it corrected before you apply for small business loans. Pay all the pending debts and get going.

The question that you will be facing with small business loans is what you are going to do with the money. Give concrete answers. Convince the lender that you will repay the small business loan with long term profitability that your plan ensures. Your confidence will be a key to unlocking small business loans.

Small business loans are available in three forms -

Short term loans will solve funds problem for immediate business starting. Their term is usually one year or less.

Intermediate loans are meant for large initial expenses with loan term between one to three years

Long term loans supply for initial costs of a start up business and extends from three to seven years.

Documentation! Yes, just get ready with your file of documents and make sure it has – proof of ownership, letters of reference, contracts, tax returns, financial statements, credit references, Incorporation or LLC organizational documents. The loan lender might ask for any other documentation for Small business loans.

Read the small business loan agreement carefully and have your lawyer review it. Some terms can be negotiated with the loan lender. If your circumstances are favourble, you can even manage to waive some terms. Obtain terms which you are comfortable especially with regard to repayment process and interest rates.

You can have a great idea, great people to work with, a well written business plan – everything, almost everything. All you need is a small business loan to make it a success. So, how do we begin writing the success story? With writing small business loans application.

The Business Plan for Your Home Based Business – Drawing a Map

Getting financing is often dependent on the quality of the business plan for your home based business. A business plan for your home based business is much like a map to how your business is going to run. This business plan for your home based business will allow investors or loan officers determine if your home based business is an appropriate risk for a loan. So, what goes into an effective business plan for your home based business?

The business plan for your home based business is normally divided into two main areas: a description of your business and finances. The first area covered in your business plan for your home based business involves the description of your business. After the cover sheet, you should have a statement of purpose in your business plan for your home based business. Then you should begin describing your business. In this description section of your home based business plan you should be prepared to discuss what your business will be doing, how you are planning to market the business, competition, how you are going to operate, and even business insurance.

The next section of your business plan for your home based business includes all of your financial data. The finance section of the business plan for your home based business covers any loan applications, capital equipment and supplies, a balance sheet, a breakeven analysis, and profit and loss projections. You should include a three year summary in your business plan for your home based business, plus monthly details for the first year and quarterly details for your second and third years.

An additional section to the business plan for your home based business includes all supporting documents like tax returns of principals and personal financial statements. If your are opening a franchise, you should include a copy of the franchise contract and other documents you have from the franchisor in the business plan for your home based business. Other documents like copies of licenses, legal documents, resumes, and letters of intent should also be included in the business plan for your home based business.

Read the rest of the article here: The Business Plan for your Home Based Business. []

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Copyright © Charles Fuchs is an established Six Figure Income earner and one of the top online marketer’s. He specializes in helping people start their very own Work at Home and Home Based Business on the internet.

Round Pegs In Round Holes: The Amazing Secret of Succeeding in Any Business Every Time!

Success is the desire of everyman on the face of this earth.
There is no normal human being without this yearning.
Unfortunately, statistics shows that just about 4% (some even
quote 2%) of the human race experience real success. I hope
your dream is to be among this 4%. The fact that you are
reading this article right now shows your desire. My purpose
is to help you succeed.

Now if you must grasp one truth it is this: “Success
Leaves Tracks.” So if you want success, the easiest
way to do that is to seek out those tracks and follow them.
These tracks come in varied forms. One of them which I’
ll be dealing with in this write up is the nugget of wisdom
left behind by those who’ve gone through the road of
success. I hope as we take a deep look at these nugget
you’ll be able to see the light and join the few who have
attained real success.

The nugget I’m considering in this write up is:

“A square peg in a round hole.”

I’m sure you’ve heard this saying a hundred times.
And I’m also sure that each time you hear it your mind
runs off to those occupying some high positions. Right? But
have you considered it in the light of owning and running a
business? Maybe not.

Now from my personal experience, and I’ve so far
confirmed this from the experiences of others, I’ve
discovered that many people fail in business not just because
of lack of capital or material resources but as a result of
their mindset. They have everything in place but surprisingly
they couldn’t build the business of their dream. A
careful look into their situation has convinced me that in their
minds they were square pegs trying to fit into the round holes
of business entrepreneurs.

Did I see you smile! ?

To understand this better you must understand the power of the
human mind. The human mind is such a potent power that there is
no obstacle it can not surmount if it is put into the proper
use. From the mind, great inventions have emerged. Many have
shot their way to limelight through the instrumentality of the
mind. Situations that many considered hopeless have been
turned around not by the powerful application of monetary forces
but by the mind. In fact, it is this awesome capacity of the
mind that differentiates man from the rest of God’s

But what does this have to do with business you might ask. A
lot. You must understand that the business world has its own
principles and systems. If you want to make it in any business
therefore you must first work on your mindset to agree with the
business environment. You must check to know if your mindset
is a ‘square peg’ and if so work to round-it off
so that it can fit in. When you do this, success is sure.

Now what I refer to as the square mindset in this piece is the
totality of your beliefs, social orientation and other negative
norms that have to do with business and making money. I’
ll endeavour to remove the scales from your eyes so that
you’ll see how our life situations and experiences can
contribute to our success or failure in any enterprise.

You must understand that the most important decision that
you’ll make in life, is the choice to take control of
your mind. As the Holy Scriptures puts it, “As a man
thinketh, so is he.” Understand that the decisions
we make are a product of the way we think. The actions we take
are a product of our decisions. And our success flows from the
actions we take. So to achieve the success we desire, we must
first of all change our thinking. There is no other way
around it.

I have always been surprised when I see so many aspiring
internet entrepreneurs ‘rushing’ into one form of
business opportunity or the other. Many a time the only
incentive pushing them into that business is because they have
seen or heard about others making it in that business. But it
is not surprising that this same people rush out just the same
way they rushed in. Some had jumped around different business
opportunities online in just one year as many times as you can
count on your fingers.

But will you know that the success of any business is not in
that enterprise but in you? For any business to succeed you
must first succeed in the most important business – Yourself.
You are first and foremost the business. Of course it has
always been harped that in choosing any business, chose the one
you are enthusiastic about. That is agreed. But may I make
it clear that if you have the right mental attitude you can
develop that enthusiasm that will propel you to succeed in any

Many who are rushing into all those home internet business
opportunities have what I call the square-pegged minds. And
forcing such minds into the business will amount to nothing.
Such people, no matter how lucrative the business opportunity
is, never can make any good of it. While others are giving
testimonials of the results they are getting, the opposite is
the case with these ones.

But what exactly are the causes of this square-peg-mindedness?
And how can they be rounded off?

First of these, is the negative attitude prevalent in our
society. Having experienced so many disappointments, both in
our personal and professional lives, a thick layer of negative
feelings had settled on many minds. They don’t trust
the government and they cannot trust their fellow men and women.
And of course they can not even trust themselves either.
They lack faith because, for them nothing is working.

Anyone with this mental attitude must think twice before
venturing into any business, online or offline. The reason is
that with such a mind no type of business you jump into can
work. So what should be the first thing to do? Change your

Developing the habit of studying success stories of others who
have succeeded in similar fields will help you. Simply put,
seek motivation through reading and being around those who have
a positive mindset.

Another cause of this square-peg-mindedness is the
employee/employer orientation that is the order of our society.
When I was in the construction industry, I have watched with
dismay many who realizing they had some extra money on them
decided to go into business. But the surprising thing is that
about 70% of those who did returned not too long after to seek
employment. I’m sure you have observed something
similar. I’ve come to understand that the problem is the
employee mentality.

You would have observed that our formal educational system
orients it products not to be their own bosses but to be job
seekers. In this condition their mindset is on working for
somebody else. And if peradventure they found themselves in any
employment this belief is entrenched the more in their
subconscious mind. Coming out from this employment and
starting a business of their own is not a thing of ease.
Working for some one and working for your self, are a world
apart. So you must never carry that mindset into any business.
You need the entrepreneur’s mindset. Again what you
need is a re-orientation. Set your mind to change your
situation. That is the way of change.

Lastly, another cause is the follow-the-boss mentality. Running
your own business demands taking risks and making decisions.
But this is not the same when you are working for some one
else. As an employee, the boss takes these responsibilities.
Transiting from an employee to your own boss therefore, you must
dump this mentality. Be prepared to take risks and develop
quick decision making abilities.

In rounding off this piece let me once again point you back to
the title of the write-up. Please will you read it again? To
make a success of that business work on yourself. The greatest
power for success is within you, your mind. Round off those
square pegs of your mind and you’d be a round peg in a
round hole no matter the business.

There is nothing you can not achieve if only you believe in it.

You’ll succeed,

Chadrack Irobogo