The Complete Idiot's Guide to a Successful Family Business by Neil Raphel

The Complete Idiot's Guide to a Successful Family Business by Neil Raphel

Author:Neil Raphel
Language: eng
Format: epub
Publisher: Penguin USA, Inc.


If you have assets that can act as collateral for your business, such as a house or other real estate, the bank might lend you money using those assets as security for the loan. The banker might also help you with the checking account and other banking arrangements you need to run your business every day.

Suggestion Box

Even if you are unable to take out a bank loan immediately because you are just starting out in your family business and have no assets, meeting with your local banker can still be a good idea. The banker you approach might have other ideas for how you can raise money, such as a government loan for small businesses or other local community resources for small businesses. Your local banker can be a useful resource and source of funding for you as your business grows.



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