In this version of “Ask the Board,” we ask Sharon Miller, Bank of America’s mind of small company for some insider tips about how to better get ready for obtaining a business loan.
In the event that you could make your very own dream Board of Directors that would be about it?
Sharon Miller, Head of business for Bank of America, answers…
Small enterprises in many cases are juggling numerous obligations for a basis that is daily from managing day-to-day operations to employing, social networking, preparing and invoicing. In addition, numerous business owners find accessing money and managing cash flow become amongst their many significant challenges. In reality, the U.S. business Administration reports that low cash movement could be the single best contributor to the failure of small enterprises.
Based on our current Bank of America small business operator Report, 15% of entrepreneurs want to make an application for that loan throughout the next one year. It doesn’t have to be whether you’re first starting out or already well-established, this can become a stressful, time consuming process — but. Here are some suggestions to position your self to achieve your goals when you look at the loan application procedure — whether through a bank that is traditional alternative sources: