• Home
  • Meet Sylvia
    • Sylvia In The Media
    • Empower Yourself
  • Work with Sylvia
    • How To Launch A Small Business
    • Business Growth Strategies
    • Group Coaching
    • VIP Day
    • Loan Packaging
    • Website Design
  • Speaking
  • Write For Us
    • Author Interview Submission
    • Webinar Facilitators Submission
    • Business Woman Interview Submission
    • Submit Your Story
    • Welcome Contributor
  • Podcast
  • Store
    • Advertisement
  • Resources
  • Contact Us

Sylvia Browder's

Blog for Women Entrepreneurs

  • Community News
    • Events
    • Teleclasses
    • Relationship
    • Telling Her Story
    • Featured
  • Beauty
    • Hair care
    • Make up
    • Skin care
  • Financial Wealth
    • Wealth management
  • Health & Wellness
    • Fitness
    • Life Balance
    • Nutrition
    • Health News for Women
  • Spirituality
  • Entrepreneurship
    • Branding
    • business bartering
    • Business Growth
    • business leaders
    • Business planning
    • Business strategies
    • Buying or selling business
    • Business taxes
    • Certification
    • Customer service
    • Economic downturn
    • Human resources
    • Leadership
    • Legal
    • Life Balance
    • Management
    • Marketing strategy
    • Marketing & PR
    • Networking
    • SBA
    • Small business
    • Small business coach
    • Small Business Loan
    • Social Media
    • Startup
    • Strategic plan
    • Technology
    • Web 2.0
  • Business Women Interviews
    • 10 Most Intriguing Women
  • Women Authors
  • Reviews
    • Book Reviews
    • Product Reviews

Expert Q & A: 6 Tips for Seeking Small Business Funding

September 3, 2009 By Sylvia Browder Leave a Comment

Share This:

Are you wondering about the process of securing funding to start or grow your small business? Sylvia Browder, Project Director, Business Coach, and Consultant with the Women’s Business Center, Inc., based in southern Alabama, shares her expertise on this subject with American Small Business News Readers. 

Q: What advice do you have for entrepreneurs who want to learn how to increase their likelihood of being able to secure the funding they need?

Browder: There are a few things that an entrepreneur should consider to increase odds of securing a loan:  

  • Be prepared to meet your banker: Make sure that you are thoroughly prepared when you go to your banker’s office to request a loan. You need to show your bankers that a loan to you is a low-risk proposition. Come to the meeting equipped with a well-prepared business plan and finance package.
  • Identify how much capital you need: Have you determined how much capital you need? Why do you need this amount?  Have you calculated your start-up costs?  Is it to purchase new equipment, down payment on an existing business or do you need start up funds to cover operation? This will help you determine what type of lender you should approach. 
  • Have a good relationship with your local banker: The old saying people do business with people they know and trust.  Well, if you have built a relationship with your local banker over the years, they are more apt to support you in your new business venture.  Do you have your main business account with them?  You should!
  • Take time to review your personal credit report and finances: Your credit score is sure to play an important role in your personal finances. If you think that your personal credit won’t affect your ability to get a business loan, think again! 
  • Make sure your house is in order:  Your credit score not only determines your ability to get credit, but also affects the interest rate.  This includes paying down your credit balances and taking time to take care of issues prior to your meeting with the bank. If you cannot handle your own personal finances, he’ll question whether you can run a business.
  • Check out resources such as Small Business Administration: The U.S. Small Business Administration (SBA) is a federal agency, responsible for assisting and protecting the interests of American small business.  The agency operates through a series of field offices around the country as well as in partnership with public and private organizations to offer technical assistance to small businesses.  The Women’s Business Center is funded in part by an SBA grant., and we offer technical assistance to small businesses.

American Small Business News

Related Posts Plugin for WordPress, Blogger...

Filed Under: Financial Wealth Tagged With: Financing

About Sylvia Browder

Sylvia is publisher of "Sylvia Browder's Blog for Women" and Founder of National Association of Women on the Rise. As a business consultant for Browder Consulting Group, her passion is helping women in service based businesses to bridge the gap between where they are now to where they want to be.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Facebook
  • Instagram
  • Linkedin
  • Pinterest
  • StumbleUpon
  • Twitter
  • YouTube
Sylvia Browder PhotoSylvia Browder
When I stand before God at the end of my life, I would hope that I would not have a single bit of talent left, and could say, ‘I used everything you gave me... Read More about Sylvia →

Sign up to receive our FREE Financing Your Small Business Toolkit

FEATURED SITES

advertise on Sylvia Browder's website

NEW COURSES

Ad
Ad

Entprepreneurship

What Should Your Ecommerce Store Sell?

What Should Your Ecommerce Store Sell?

Explore More

 

How To Become a Successful Female Entrepreneur

How to Make Giving Customer Feedback Easy for Your Customer

How to Pick the Right Kind of Business for You

Latest Articles

  • What Should Your Ecommerce Store Sell?
  • How To Become a Successful Female Entrepreneur
  • How to Make Giving Customer Feedback Easy for Your Customer
  • How to Pick the Right Kind of Business for You
  • Entrepreneurial Energies: 4 Steps to Becoming a Successful Business Owner

JOIN COMMUNITY


Visit National Association of Women on the Rise

© Copyright 2013 Sylvia Browder's Blog for Women Entrepreneurs · All Rights Reserved · Site Designed by Browder Consulting Group LLC Admin Login