Entrepreneurship is the business process that builds wealth for entrepreneurs and their countries. Every year, new businesses appear everywhere, lead by amazing people. Without all these incredible small businesses, it would be impossible to progress and get prosperity.
Unfortunately doing so it’s not always easy. In order to make business projects grow, it is necessary to have quick access to cash, and a small business loan by Camino Financial is an excellent way to do it.
How a small business loan works
To qualify to get one of these financial tools, it is necessary to build a credit business score (between 350 to 850).
The lender evaluates some very important details about the applicants, like the ability to repay past debts. During the applications process, the applicant will be required to submit some legal documents (balance sheet, personal and business tax returns, business licenses, etc.).
It all might sound like a hassle, but it’s not, and the benefits you can get from it are worth it.
Small business loans can be the key to your success story. The following four examples show how this simple financial tool can make a difference.
From food to shirts
Dolores is a young woman who was born in Los Angeles. Her family came to the USA from Cuba more than thirty years ago searching for a better future.
Dolores had been working in the family restaurant for some years when she realized she wanted to run her own business.
She decided to make customized T-shirts with unique drawing designs.
The best option for her to get things going was to apply for a small business loan, and so she did. Her sister helped her get all the documents that needed to be submitted.
She got a loan that it only took her 12 monthly installments to be paid.
Now she enjoys the rare delight that is opening her shop door every day.
Pete’s family had been struggling financially to get ahead for a long time. He decided to help them by opening a small Italian restaurant in Medford, Oregon.
He is an excellent chef and has a big group of customers that love his menu.
Unfortunately, his cooker burnt two weeks ago, and he needed to buy a new one as soon as possible. Time was of the essence.
For this reason, last week he checked the different financial support tools available to get cash. Finally, he applied for a small business loan and he obtained it. He knew that the constant flow of customers was the guarantee he needed to know he could pay the loan.
Now, the restaurant is working better than ever with the new cooker and the customers are delighted.
The language of success
Melanie had been a secretary with a big oil company for ten years. One day she realized she was feeling tired and overwhelmed, the job was not what she dreamed of.
Melanie thought that it would be impossible to deal with that situation for more time.
Finally, she decided to quit and started her own business. She loved languages, she was bilingual herself, so she decided to open a small institute to teach Spanish in her town, Asheville. When she started running numbers, she realized she couldn’t afford it.
One of her friends told her about small business loans. Therefore, Melanie applied for one in her bank. She got the loan.
Now she’s the proud owner of a thriving institute.
What makes you happy?
Ashley had always lived in New York. She had had a wide range of jobs) from marketing and cooking to sales and community management), but she had never felt comfortable in any of them.
For this reason, she designed a plan to own a business. She the only thing that stopped her was a lack of cash.
In fact, it was a problem that had a fast solution: a small business loan. Ashley submitted all the documentation required by her bank to get one. With the cash obtained she could start a small handmade jewelry business.
Now she finally feels happy at work.
Small business loans are incredible tools for all and any entrepreneurs who want to start a business or need some help during the developing process.
Have you ever thought about being your own boss? Do you need quick cash to solve a problem related to your small business?
Small business loans are available in different types and sizes in many financial institutions, and the requirements to get them are standardized.
It’s time you take the next step in building your future.