Know How Much Money To Borrow

Published May 19, 2015 by TNJ Staff
Personal Finance
Featured image for Know How Much Money To Borrow

BORMany think fast and furious is the right way to grow a company business, but it?s often not the smartest mentality when it comes to business loans.

Small-business owners and entrepreneurs need money for a variety of reasons, but many are unrealistic about how much money they really need. The point of a loan should be to help your business get to the next level, not the next ten levels. It?s also not a substitute for generating income or a permanent crutch — people that see it as such are likely in much more trouble than they realize when contacting a loan broker.

Before getting too deep into the process or too excited about the prospect of a huge business loan or SBA loan, take a step back and ask yourself these questions:

Will you make enough income from the loan to be able to comfortably pay the loan back over time?

Read more at?ENTREPRENEUR

Share Post:
T

TNJ Staff