OnDeck expert Andrea Gellert gives tips for applying for small business loans – Kansas City Business Journal
Small Business Administration (SBA). Credit Requirements: Credit History Applicants must have a credit history acceptable to SBA. Repayment SBA economic injury assistance is in the form of loans. Applicants must show the ability to repay the loan. Collateral Collateral is required for all EIDLs over $25,000. SBA takes real estate as collateral when it is available. SBA will not decline a loan for lack of collateral, but SBA will require the borrower to pledge collateral that is available.
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Its a fun ride!! Opportunity The opportunity that entrepreneurship affords is fantastic! Where in the world can you as a profession be able to open your world into a sea of opportunity? No where. The moment you decide to become one, you open yourself up to so many possibilities, and dependent upon what you want and what industry your in, that can be tremendous! The the sky is truly the limit. So, as you can see the possibilities are endless and if you are a serial entrepreneur like I am and if you are an avid watcher of the show shark tank. and/or the profit, you will see what I am talking about. Responsibility Yes, entrepreneurship is all about that and them some. When you take the leap to become one, you are taking on the responsibility to become a valued asset to you, your community, as well as the world around you. Remember this: entrepreneurs are heroes and with that comes responsibility . Never think of entrepreneurship as a one day or once a year thing.
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3. Give references a heads up Call and let them know youre applying for credit before the lender does or they may not take the call.
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