Lifestyle > Train of Thought

Getting access to small business loans

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maryoz:
My cd duping hustle is working out pretty nice, and I needed a loan that could basically get us to advance our operations. The loan was basically a down payment on a higher income. That's what any loan should be: a gateway to making all that money back, and the interest and then some more still. Anyhow, The banks tripped on the business plan a bit, but I once I showed I was paying bills, different story. I've had a virtual phone service through Gotvmail for two years, for example, which invoices say I'm running an 800number with 5 extensions with a nice volume of calls coming through. Right there I have it spelled out I'm doing biz. Plus all my vendor invoices I've paid on. Not all banks ask for this stuff, some only care about your credit, but it helps to show. Most important, show them the Rakims: any accounts that you've paid in full especially for your biz.

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