Business Checks

Even in the best of economic times, it’s not easy for start ups to win bank loans. Most lenders look for a long track record of earnings, and some don’t lend to new firms at all. But you can improve your odds by investing your own cash, building banking relationships, communicating a compelling business vision, and courting local investors.

“No one should go into a bank and expect 100% financing,” says Bob Seiwert, senior vice president of the American Bankers Association, a Washington, D.C.-based trade group. “Bankers are lending shareholder and depositor money, and they want it returned on time. They get paid to take prudent risks, but they don’t get paid to make equity investments.” Using Quickbooks business checks will help you to track where the money is being allocated to.

In short, you need to invest in your enterprise before seeking others’ support. Seiwert also recommends seeking out an experienced small business lender who uses the Small Business Administration’s loan guarantee programs.