Loans and Bank Financing
Borrowing money can be a great way to invest in the growth of your company. Financing the acquisition of some key equipment, hiring key personnel, or simply having cash available to help with uneven revenues. As with so many other things, you need to understand and negotiate the terms of your deal – and not just the interest rate and length of the loan. Is your loan secured? What kind of collateral are you being required to provide? Are you required to personally guaranty a business loan? What triggers a default, and what happens if you can’t pay back the loan on time? There is a lot to consider – all of which can impact whether you are getting a fair deal or not.