Small Business Financing Options

Helen asks…

Need a small business loan, can you help?

I am a new business owner and have need of finances upfront to get the building completed, and update equipment to expand our ability to get customers what they want/need. I am a young woman with no significant credit established. I have tried a few options that have proved unsuccessful or I am on a waiting list to be reviewed so I need your help. Do you know where I could possibly get some financial assistance

admin answers:

No, I don’t.

Donna asks…

What do I have to do to buy an existing business?

I am working for a small business and he is wanting to sell it. I want to buy it but do not know what options I have for getting financing. I have worked there for 1 year and the owner is now ready to retire. we have talked breifly about how well the business is doing and so on but, I don’t know what questions I should ask the owner now and what I should ask later ( after I have found financing). Where do I go first and what is the best Avennue for financing?

admin answers:

There are many options, the one I recommend is give him a down payment that you can afford like $5000 to show you are serious then have him carry the loan. If the business is profitable he should have no problem with accepting monthly payments from you. He will get more money for his business because of the interest on your agreement like 6% which is much better than a loan from a bank. I am kind of at a loss for anymore advice because I do not know what kind of business, how much money he’s asking, your age, type of business and what part of the country the business is in. If you would like to read my profile and contact me with the info I would be happy to offer more help.

Michael asks…

Need help with business homework questions?

Much of the damage of forests and streams in the eastern United States and Canada has been attributed to acid rain originating in sulfur from manufacturing and power plants in _______.
[a] Canada
[b] Mexico
[c] the Midwestern United States
[d] Europe

Save-a-Bunch Hardware has doubled its prices for plywood and other building supplies after a tornado strikes the area. Save-a-Bunch Hardware is likely guilty of _______.
[a] collusion
[b] price lining
[c] price gouging
[d] price fixing

Which of the following forms of businesses buy products from manufacturers or other producers and then sell them to retailers
[a] wholesalers
[b] service firms
[c] agricultural stores
[d] retailers

As a small-business ownership option, small business consultants often recommend _______ because the odds of success are better
[a] buying an existing business
[b] investing overseas
[c] external financing
[d] starting the business from scratch

When a firm sells part of itself in order to raise capital, it a(n) _______.
[a] merger
[b] spin-off
[c] ESOP
[d] divestiture

Which organization created the classification of countries based on per capita income?
[a] World Bank
[b] EU
[c] World Trade Organization
[d] GATT

admin answers:

(1) don’t know but I imagine the power plants are either in US and/or Canada, so look up in the internet (ie: wikipedia) where are most power plants located.

(2) look the meaning of the words in the internet and see which one means to take advantage of the customers by increasing their price due to the high demand.The law of supply and demand says “higher the demand, high price, lower demand lower price” but most companies inflate the prices too much because they know people need them at the moment.

(3) wholesalers

(4)buying an existing business, because when a business is already running, it has its customers already established and you can see their financial sheet and find out how is the business doing before you buy tem (ie: subway sandwiches)

(5)don’t know, look the meanings on the internet

(6) I would assume the world bank but I am not sure.

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