Bio – Your bio should describe your business and display your brand personality. You should also use the 150 characters to explain what users can expect from your Instagram profile. Try using emojis and hashtags in your bio to add personality and for users to find your brand. See how Target makes use of emojis and hashtags to highlight its competition.
Hi, I am really trying to start my own trucking company doing hot shot services. I know plenty companies that would let me handle their needs but with the cost of living being so high in the city it makes it so difficult to save money to get started with bills and child support. If anyone knows anybody that could help me get a small business loan I would gladly appreciate it.
Bio – Your bio should describe your business and display your brand personality. You should also use the 150 characters to explain what users can expect from your Instagram profile. Try using emojis and hashtags in your bio to add personality and for users to find your brand. See how Target makes use of emojis and hashtags to highlight its competition.
So what’s the catch? You must have an eligible retirement account (Roth IRAs are not eligible, but most tax-deferred retirement plans are), and generally speaking, you should have at least $50K in the account to rollover. This means that ROBS are often not an option for young franchisees who haven’t had sufficient time to save money in a retirement account. In addition, there is a risk to doing a ROBS. If the franchise fails, you could lose your retirement funds.
Crowdfunding financing companies are platforms that raise money from both institutions and individuals, and they often lend it out to specific industries. Some focus on real estate, while others will focus specifically on small businesses or franchises. They typically bridge the gap between traditional business loans, like SBA loans, and alternative loans with much higher costs.
Accounts receivable financing. An accounts receivable line of credit is a credit facility secured by the company’s accounts receivable (AR). The AR line allows you to get cash immediately depending on the level of your accounts receivable, and the interest rate is variable. The AR line is paid down as the accounts receivable are paid by your customers.
Working capital loans. A working capital loan is a debt borrowing vehicle used by the company to finance its daily operations. Companies use such loans to manage fluctuations in revenues and expenses due to seasonality or other circumstances in their business. Some working capital loans are unsecured, but companies that have little or no credit history will have to pledge collateral for the loan or provide a personal guarantee. Working capital loans tend to be short-term loans of 30 days to 1 year. Such loans typically vary from $5,000 to $100,000 for small businesses.
Government small business loans help put your own business within reach. First there’s the quest for a decent location, then comes building a customer base, followed by all the initial hiccups of generating a cash flow before your business grows roots and gains momentum. The beginning of a business is crucial because it’s when you gain or lose market credibility. If you disappoint your customers, they may not give you a second chance. If your business gets off to a rocky start (most do), and you believe you can recover but need further financing to make this happen, you can apply for government small business loans.
Shelton advises entrepreneurs to apply for a larger loan once they have the numbers to prove that they are growing: “What you’re hoping to get from these smaller loans is traction,” which you can use to “pitch [your story] as a growth story” when you apply for a larger traditional loan from a bank. Proving that you have experience growing your business from someone else’s money will help you convince the bank that you can do the same with their loan.
Lenders prefer financial statements that have been audited by a certified public accountant (CPA). But many small businesses don’t want to incur the costs of an audit, so one alternative is to have the financial statements “reviewed” by a CPA (which is cheaper and faster). However, some lenders may not require either audited or reviewed statements.
Borrowers have multiple options for SBA-backed loans, including microloans with a six-year repayment term to allow new businesses to borrow up to $50,000; 7(a) loans that allow companies to borrow up to $5 million; and 504 loans, available for up to $5.5 million for smaller businesses with a net income under $5 million and a net worth below $15 million. 
The primary disadvantage of Stock Option Plans for the company is the possible dilution of other shareholders’ equity when employees exercise their stock options. For employees, the main disadvantage of stock options in a private company—compared to cash bonuses or greater compensation—is the lack of liquidity. Until the company creates a public market for its stock or is acquired, the options will not be the equivalent of cash benefits. And, if the company does not grow bigger and its stock does not become more valuable, the options may ultimately prove worthless.
If you can secure a credit card in your company name and make purchases and on-time payments, you can get financing and start building good business credit at the same time. Of course, the credit limit, interest rate, and terms of payment will vary, and each bank or credit union will have eligibility requirements, so this option will not work for everyone.
Hi Rose, generally a business loan or mortgage will not appear on your personal credit report unless you signed a personal guaranty; if you personally guaranteed the loan, there is a chance it may appear on your personal credit report — but then again, it might not. It’s a good idea to check your credit report for any issues before you apply to any loans.
The primary disadvantage of Stock Option Plans for the company is the possible dilution of other shareholders’ equity when employees exercise their stock options. For employees, the main disadvantage of stock options in a private company—compared to cash bonuses or greater compensation—is the lack of liquidity. Until the company creates a public market for its stock or is acquired, the options will not be the equivalent of cash benefits. And, if the company does not grow bigger and its stock does not become more valuable, the options may ultimately prove worthless.
Fundation (see our review) is another high-quality alternative lender that provides capital to franchise businesses. Fundation has some of the lowest rates and fees you can find outside of a bank or credit union, offering up to $500,000 deposited in your account within a couple weeks after applying. However, the borrower requirements are more stringent than those for other some online lenders, as you’ll need good credit, one year’s time in business, and at least three full-time employees.
Short-term loans like the ones offered by OnDeck have higher rates and fees compared to longer-term loans. Effective interest rates start at 9.99%, and if you have a newer franchise and/or poor to fair credit, your rate will likely be higher than that. Nevertheless, OnDeck is one of the few reputable sources of short-term, unsecured business loans offered to franchise owners, and also one of the fastest. OnDeck is additionally one of the few online franchise lenders willing to lend to applicants with poor credit.
Hi, I am really trying to start my own trucking company doing hot shot services. I know plenty companies that would let me handle their needs but with the cost of living being so high in the city it makes it so difficult to save money to get started with bills and child support. If anyone knows anybody that could help me get a small business loan I would gladly appreciate it.

Though the fastest growing entrepreneurs were entering this business model are Millennials. Franchising at a rate that cannot be ignored; the latest Census data shows that 66% of Millennials are interested in entrepreneurship, nearly making up 30% of all entrepreneurs are between 20-24 years old, and over 25% are self-employed. Additionally, they launch 160,000 start-ups each month motivating the IFA (International Franchise Association) to start the NextGen Franchise initiative that recognizes and supports young entrepreneurs.  The IFA is going as far as reaching out to this generation while their still in school, introducing them to the benefits and possibilities of franchising offered through education, scholarship, and leadership. Another age group making up a large part of the market are the baby boomers and seniors. More services being developed are quality of life/wellness products, patient advocacy, non-medical home care, and respite care. And lastly, there are an increase in businesses interested in kids and child enrichment that is thriving and showing no signs of slowing down. Each has displayed an interest in getting kids moving, reading, thinking, and believing in themselves. These businesses have provided a sense of accomplishment and community within a supportive environment. Therefore, a trend of development centered around fitness, sports, music, art, STEM (science, technology, engineering, and math), tutoring, and child care have grown immensely. However, with the trends centering around technology, the food industry, and the distinct influence of individual age groups, franchising is proving to be a flourishing industry with a positive future.
Are you thinking about starting a small business, freelancing, or turning a hobby into a full-time job? Or perhaps you're already running your own business and need some inspiration to take it to the next level. Each week, join small business coach Dave Crenshaw for two short lessons that reveal the secrets of running a successful small business. This series covers topics such as getting started, writing a business plan, determining your most valuable product or service, hiring people, managing processes, documenting systems, bootstrapping, seeking funding, accounting, controlling costs and profit margins, marketing, creating culture, and more.

The Small Business Association (SBA) has several financing programs available for businesses, including startups, and works with banks around the country to guarantee loans so small businesses can secure bank loans and get up and running quickly. The SBA works with entrepreneurs who do not have great personal credit, making it more likely that they can still start their business even with a less than perfect credit score. Visit SBA.gov to find out more about how the SBA can help you and get information for your region.

Bank loan: You’ll need excellent business and personal credit to qualify for an SBA-backed bank loan. The U.S. Small Business Administration provides general small-business loans through banks with its 7(a) loan program. According to NerdWallet, the average SBA loan size is $371,000, although amounts can vary between $5,000 and $5 million. To qualify, you’ll need to provide:

If you do have people in your life who could invest in your business, getting a loan from friends and family is sometimes an option. Of course, for many entrepreneurs who are just starting out and in need of cash, this just isn’t a possibility. Either the amount they need is too high, or their circle of friends and family is small or possibly strapped for money themselves. It’s possible that your friends and family will think it’s too risky because of your bad credit as well.
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