Business loan tips for first-time borrowersBy CHRISTIAN NACORDAhome/Business/Business Columns/Business loan tips for first-time borrowersBusiness owners can get easily overwhelmed when taking out a loan for the first time. To make the right business decisions and minimise the emotional impact when taking a loan, it is best to reconstruct your business plan, do the necessary research, and make an objective decision based on your business’ current financial situation. Customer feedbackChoose a funding provider with a good reputation and research what their current and previous clients are saying about them. In fact, in many cases, there are more suitable options for small business owners, such as purchase order financing, invoice financing, business grants, and revolving lines of credit. Know your limitsBefore deciding to push through with your loan application, double check the amount you intend to borrow.

Source: Manila Times June 14, 2019 16:30 UTC