Obtaining working capital can seem like a difficult task if you don’t know where to go and who to talk to. Fortunately, for New Jersey based small business owners, there are a few resources you can use to find the working capital. Before you do that though, it may be helpful to write down the things you need for your business (if you haven’t already done so). I suggest making a list of the expenses you need to cover so you will know the exact amount needed for your business.
I also, suggest checking your personal credit history (using www.nav.com) to get an updated copy of your credit history and score. Getting approved for working capital may depend on your personal credit history and score so this is very important. Once you know the total amount of working capital you need and whether or not your personal credit is up to par, you’ll be ready to approach a few resources for help. If you’re in New Jersey, you can use the following resources to get working capital for your small business:
- Consult with LenCred – We have an office in New Jersey and work with many small businesses in the area. Our funding consultants will work with you to determine what type of working capital is right for your business and recommend the most appropriate options to you. Our speciality is obtaining unsecured business lines of credit and unsecured business loans up to $200,000 for small business owners. However, if we realize you may be a better fit for another type of financing option, we will direct you to the best source.
- Check Out the Resource Guide for Small Business – The Small Business Administration has developed a resource guide for New Jersey based business owners seeking information on how to find working capital, amongst other things. If you’re considering applying for an SBA working capital loan of some sort, there may be a few resources in the guide that can point you in the right direction.
Don’t Do It Alone, Get Help
The bottom line is, it’s easier to consult with expert resources who can help you find and/or obtain working capital for your New Jersey based small business rather than going at it alone. Whether you use the resource guide for New Jersey based business owners or contact the experts at LenCred for help, it would be wise to get expert advice before applying for any type of working capital.
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