You've been thinking of starting your own business or enterprise for a while now. What's holding you back? Typically, the major obstacle to starting a business relates specifically to the need for money to implement the start up. Even existing businesses who are ready to expand (or need to expand to meet growing demand) can find searching for or obtaining the funds needed to be a difficult project.Small business loans in the Finger Lakes Region are available and with just a bit of effort on your part can be the perfect solution to your growing needs. There are a lot of risks to take into consideration when starting up a business; leaving your job and/or reducing your personal income for a period of time are just the start.How Much Do You NeedDetermining your level of need requires the effort we were just speaking of. Most lenders will need a thorough business plan,Consider the following uses:Licenses and permits. Depending on your region, you may need special paperwork and registry to operate.Supplies. Are you buying raw materials? Do you need computers and/or other devices?Equipment. Do you need specialized machinery or software?Office space. This is a huge expense, and you can't neglect things like Internet, utilities costs, janitorial services and whether to outsource back office tasks, like payroll and invoicing.Associations, subscriptions, memberships. What publications and affiliations will you subsribe to every month?Operating expenses. Dig into the nooks and crannies here, and don’t forget about marketing.Legal fees. Are you consulting a lawyer throughout your business-development process?Employees, freelancers and contractors. If you can’t do it alone, you’ll need people on your payroll.
(Courtesy Entrepreneur.com )Small business loans in Central New York take these items into consideration and you will want to be sure that you have each detailed out as much as possible. Some of the items noted can be reduced by starting out smaller, perhaps in a home-based office and as a sole-proprietor (without employees).Business Loan Connection can help you take the guess work out of what is needed for small business loans in Tompkins County. Our expert and knowledgeable staff and our relationships with local credit union lenders will make the process simpler and quicker than what you may expect.BusinessLoanConnection.org is a unique collaboration between community development credit unions in central and upstate New York. By connecting existing and aspiring business owners to financial and skill-building opportunities, we work to cultivate successful small businesses throughout our combined service area.Get Your Business Idea Started the Right WayOur goal is to provide exceptional assistance to business owners in the Central New York area through our relationships with lenders willing to provide small business loans in the Finger Lakes region. We are available to answer your questions and get you started in applying for and receiving the financial assistance you need for your business.A business needs capital to grow and we understand that. A business needs to grow and expand as the demand increases for the services or products, and we know this is your goal as well. Please refer to our Contact page to locate the lender closest to you. We look forward to serving your small business loan needs here in Central New York