Small Business Loans for Black Owned Businesses
Starting and growing a successful business isn’t easy. It takes a lot of good decisions and plain ol’ hard work. Unfortunately, for many black owned businesses, finding the right funding for your small business can make the journey even more challenging.
What can you do to prepare?
Consider these questions to determine if you are ready:
- Can the business cover your current expenses plus the loan payment?
- Do you and the business have a history of paying debts & suppliers on time?
- Have you filed tax returns for you and the business the past two (2) years?
- How much money have YOU invested so far in the business?
- Do you have a recent and accurate Profit & Loss Statement, Cash Flow Statement and Balance Sheet?
- Does the business make enough to cover your personal salary & bills?
- What assets do you own which might be used to secure the loan?
- What management and / or industry experience do you have as it relates to your line of business?
Click here to view options for obtaining a small business loan or other funding.