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Smart Business Funding: A Strategic Plan for Entrepreneurs with Good Personal Credit
Starting a business is exciting, but if you’ve been using your own money to fund your growth, you may be limiting your potential. The good news? If you have good personal credit, you can leverage it to access zero-percent interest capital, bank loans, and business lines of credit that give your business the financial boost it needs—without draining your savings. Here’s a step-by-step guide to building a smart business funding strategy using your personal credit. Step 1: Structure Your Business Properly Before applying for funding, ensure your business is set up correctly. This includes: Registering as an LLC or corporation (avoid sole proprietorships for funding purposes) Obtaining an EIN from…
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Business Hardship Programs
Business hardship programs can provide financial assistance to small businesses in need. Some examples of business hardship programs include: Small Business Recovery and Resiliency Program A program in Irving, Texas that provides one-time grants of up to $15,000 to eligible businesses State Trade Expansion Program (STEP) A state-based program in Texas that provides grants of up to $10,000 to eligible small businesses that export goods and services U.S. Small Business Administration (SBA) A program that provides loans, training, and counseling to small businesses, including disaster loans during times of crisis Amazon Business Small Business Grant Program A program that awards grants to eligible U.S.-based small businesses FedEx Small Business Grant Contest…