Starting a new business is both exciting and challenging, and It can also be overwhelming trying to come up with financing to get the venture off the ground.
Where should you turn for the help that you need to get going?
Taking out a loan from a bank or a credit union is the most traditional route for obtaining funding. While banks are sometimes the source of Small Business Administration (SBA) loans, the conventional loans that banks handle may be a better option in some cases.
For starters, SBA loans are backed by the government, which means there are often stringent terms attached to the loan. Without government involvement approval time is usually faster. Continue reading