Labels:text | screenshot | font | black and white | number OCR: How To Start A Small Business (SBA Documentation) Page 24 BORROWING MONEY It is often said that small business people have a difficult time borrowing money. This is not necessarily true. Banks are in the business to make money, & the way they make money is by lending money. However, it is the inexperience of small business owners in financial matters, that prompts many small business loan requests to be turned down. To be successful in obtaining a loan, you must be prepared & organized. You must know exactly how much money you need, why you need it & how you can pay it back. You must be able to convince your lender that you are a good credit risk. Requesting a loan when you are not properly prepared makes a statement to your lender. That statement is. . . "High Risk!" BUILDING EXCELLENCE IN ENTERPRISE Types Of Business Loans Short-Term Loans: Loans that are paid back in less than one year. Types of short-term loans include: . Working Capital Loan . Accounts Receivable Loan
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