How Can a Small Business Secure Financing?
Perhaps the single most important aspect of securing business credit, is to make sure the business is incorporated or a limited liability. Without either of these designations, the banks and lending institutions that provide business loans, and credit lines, will come to see it as a personal loan, which carries with it a personal guarantee. In essence, if the business goes bankrupt, then the individual is responsible for that debt, if, and only if, that business is not incorporated or a limited liability. With numbers that estimate that over half of all new businesses fail in the first year, it is incumbent upon new business owners to separate their personal credit, from their business credit. document.getElementById(‘adsense_placeholder_2’).innerHTML = document.getElementById(‘adsense_ad_2_hidden’).innerHTML; Who Can Help Set up Small Business Financing? A business credit advisor, or business credit expert, is the best source for setting up business credit, and can help point the way
