If you've been in business for a while, then you know the
importance of having a long-term business plan that you refer to frequently. Not only can you see at a glance
whether or not you're on target to hit the goals that you set both for yourself and for your business, you also get
the chance to make any adjustments that you feel are necessary given the fact that business plans in general in
business and particular is certainly not something that set in stone.
One of the things that you don't have to realize is that
eventually you will want to expand, or your business while some type of emergency for which there just is not
enough disposable cash around to deal with. In a case like that you probably been want to look for some type of
loan. Although you wouldn't want to go to one of the payday loan shops that you seem to be finding on a regular
basis around every corner, you may be wondering whether or not you should get SBA loan.
Something to consider is that the only SBA does guarantee your
loan, it is still up to you to decide whether or not getting an SBA loan is in the best interests of you, your
family, and your business. And although there is no hard and fast, paying by the number of rules about this in
general common sense is probably the best way to go. For instance if you've just set up your business and your
finding that the equipment that you currently use several years out of date that you do not have the cash on hand
to buy and up-to-date model, you may be considering getting that loan.
However, if you don't have clients then you don't have cash flow
and will you be doing is putting yourself into debt from the very beginning and that is something that you just do
not want. Far better from this point of view to Wade get a couple of clients and get some cash flow going to pay
for yourself. Something else to consider is that you always want to make sure that you have enough reserve to pay
back the loan on the scheduled payment plan. If you can do this, then an SBA loan is definitely something that you
should consider but again only if you need it.