It’s that time of year, holiday shopping, excitement for the holidays and….
Next years budget, marketing plan, and where do I get the money from? Party pooper huh? Well a word of caution to businesses shopping for money this holiday season-or anytime for that matter.
- Check your credit-credit karma is good because you do not get any “dings” on your credit report.
- Correct anything that is not accurate NOW
- Do NOT apply at multiple lending institutions, select one and focus on that.
- Once you apply you get a ding, and every time you apply you get a ding-after about 3 dings the banks will give you a “dong”.
- Make sure you read all the terms and conditions BEFORE you sign.
- Make sure you can actually pay back the money.
- Create a marketing plan that makes sense and how you will achieve it and pay for it
Be informed, most banks do not like to lend to companies under 5 years, 2 years and under is very difficult same with start ups, there are factoring companies that can help, make sure you understand all the terms and rates in these type of companies!
Hope you all have a great holiday season and a very prosperous new year