Get a Home-based Business Loan without a Business Plan
The phenomenal emergence of home-based business ownership has
been astounding. The Small Business Administration (SBA)
projects that by 2007, there will be over 2 million small
business firms.
Trends indicate that entrepreneurship is quickly becoming a
fabric in American cultural. Yet, while there are many
opportunities for securing personal wealth through business
ownership, access to capital continues to be a hurdle for most
start-up companies.
Thanks to a new small business initiative, the hurdle has become
a little less painful. Through the SBA CommunityExpress loan
program, start-ups and existing businesses alike can apply for a
"Small Office/Home Office" (So-Ho) loan without a business plan.
Loan amounts are available for $5,000, $10,000 and even $15,000
and no business plan is required. This may not seem like much to
some business owners, but the most successful companies have
started out by getting micro-loans. In fact, the SBA cited that
most homebased businesses required $10,000 or less to get
started. Examples of companies that started with less that
$25,000 include Ben & Jerry's, Fedex and Tom's of Maine
toothpaste.
It doesn't matter if you want to start a daycare center, desktop
publishing firm, or barbershop. These mega success stories are a
constant reminder that small beginnings can indeed lead to
greater rewards.