Financial Words of Wisdom
With today’s economy there are a lot of people being laid off from their jobs. It doesn’t matter if the people have a vested interest in the company; there is still a possibility that they could be laid off. Well all is not lost. There is light at the end of the tunnel. Could this be a sign that this is the time to reinvent yourself? For those of you that have decided to take a “proactive” approach and have an interest in becoming an entrepreneur or business owner due to this economic pinch, these financial tips are for you:
Did You Know:
- That money is still available for small businesses?
- That there is still a need for non-profit, as well as, for profit companies?
- That your bank may have internal programs to help finance your business?
- That local community banks did not get caught up in the banking disaster, are still a viable resource and still lending out money? Visit the branch nearest you.
- That the rules have changed for FICO Scores? See how your score affects your lending ability.
- That in order to obtain a loan your FICO Score should be at least 660, you must have verifiable income, ability to repay and invest at least 15-25% of your own money?
- That SBA is not a lender nor has money; however, they offer various SBA Loan Programs to help you? Visit the branch nearest you.
- That there may be angel investors interested in investing in your business?
Words Of Wisdom To Survive This Economic Pinch:
Get back to basics. Think out of the box. Embrace joint efforts. Make the necessary sacrifices. Reinvent yourself.
Vernita Naylor, Ft. Worth SCORE
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