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Borrow money from a bank (New Business Checklist)

Banks have the money, but the chances of a new business qualifying for a loan are very small. Unlike your family, a bank won't lend you money simply because they like your idea and trust your character. Still, some new businesses do qualify for loans. Whether or not you can qualify depends heavily on your business' cash flow, your personal credit history, your equity in the company, and the collateral used to secure the loan.

The Small Business Administration (SBA) offers several programs to help businesses get loans. The SBA's greatest aid comes in the form of a loan guarantee to the bank. If you are unable to repay the loan, the SBA will repay the bank a pre-determined percentage of your loan. Contact the Go online SBA for more information.

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