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Aug062010

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There are three basic reports important to your business. Income or Profit and Loss Statement Cash Flow Statement Balance Sheet An income or Profit and Loss Statement shows where and how money goes in and out of a company for a period of time.  Monthly, quarterly and annual Profit and Loss Statements show the financial strength of a company.

Aug062010

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Regardless of where you seek funding - from a bank, a local development corporation or a relative - a prospective lender will review your creditworthiness. A complete and thoroughly documented loan request (including a business plan) will help the lender understand you and your business. The "Five C's" are the basic components of credit analysis.

Aug062010

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Free Annual Report Your credit score represents the creditworthiness of you as an individual or your business. A credit score predicts the likelihood that you will repay your debts. Your business credit score determines your access to capital, rates on rental space, insurance and other business needs. The score is comprised of data from the three major credit bureau. Equifax Experian TransUnion

Aug062010

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Running a business involves a significant amount of investment. Business insurance protects your investment by minimizing financial risks associated with unexpected events such as a death of a partner, an injured employee, a lawsuit, or a natural disaster. Unless you have employees, business insurance is generally not required by law.

Aug022010

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Not surprisingly, the pace of merger activity in 2008-09 has slowed dramatically as compared with recent years. Excluding a few megadeals, the M&A world has indeed been quiet. With a weak economy and an ongoing liquidity squeeze, most pundits expect that few significant deals will happen this year—and many think that is exactly the way it should be.

Aug022010

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Every lender and lending program is different. However, there is basic documentation required for a successful loan application. Basic documentation Information required: Loan application. At a minimum, the loan application requires business and personal information, the amount, purpose and banking information (checking account).

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