In this edition of “Ask the Board,” we ask Sharon Miller, Bank of America’s head of small company for a few insider tips about how to better get ready for trying to get a small company loan.
In the event that you could make your very own dream Board of Directors who does be about it?
Sharon Miller, Head of business for Bank of America, answers…
Small enterprises tend to be juggling numerous duties for a day-to-day foundation — from handling day-to-day operations to hiring, social networking, preparing and invoicing. In addition, numerous entrepreneurs find accessing money and handling money flow become among their many significant challenges. In reality, the U.S. small company Administration reports that low cash movement may be the single contributor that is greatest to the failure of smaller businesses.
In accordance with our Bank that is recent of small company owner Report, 15% of business owners intend to make an application for a loan on the next one year. Whether you’re first getting started or currently well-established, this will develop into a stressful, time intensive process — however it doesn’t need to be. Below are a few suggestions to position your self to achieve your goals within the loan application procedure — whether by way of a bank that is traditional alternate sources: