Entrepreneurial Connection

	The Truth About Small-Business Credit By Phillip M. Perry Andy needs an expensive machine for his carpet cleaning business. He takes out a bank loan, expecting to repay the money with revenues generated by his new equipment. Amy needs a large quantity of raw materials to produce seasonal gifts that will start selling in three months. She obtains 90-day terms from her suppliers, planning to pay their bills with the cash she obtains from her customers. Like Andy and Amy, you may need credit to ease a temporary cash shortage. Credit is the use of someone else’s money for a specified period of time. Unfortunately, credit comes with a substantial downside: Cost. Interest must be paid to the lender of the money. As a small-business owner, you’ll grapple constantly with the critical issue of credit. Should you request it from your suppliers or your financial institution? Should you extend it to customers? And what should the cost be, in either case? These questions must be answered wisely for your business to survive. This Success Skills Seminar will tell you everything you need to know about small-business credit.
		Your Personal Credit Affects Your Business
		Get Your Personal Credit In Order
		Get Your Business Credit In Order
		Get Credit From a Bank
		Get Credit From A Supplier
		Convince Creditors To Lend You Money
		Should You Extend Credit To Customers?
		Resources

	(Posted January 2007)

The Truth About Small-Business Credit

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