In today’s difficult times, being a small business owner is a very difficult proposition. Dealing with unruly employees, expensive vendors and the frugal public is no picnic for anyone. I’m in that boat right now, as a small business owner in Southwest Florida. The business climate here is particularly difficult, between the economic downturn and the oil spill in the Gulf. The biggest problem that I have faced is a shortage of capital to inject into my business. Because of the seasonality of the area and the aforementioned calamities, there is no “quick fix” to bring business back to its pre-recession level. Luckily for me, some Internet research led to an important discovery.
I found an e-book titled “The Midas Guide to Credit and Business Funding”, by Darrell Hornbacher. After purchasing this valuable resource, I poured through all of its material and found out some interesting information. Did you know that the number one reason for small business failure is UNDERCAPITALIZATION? A fancy phrase for not having enough money to continue business operations. Because of the problems with the economy, the traditional lending institutions such as banks have tightened their belts. Money is very hard to come by. Mr. Honrbacher starts out with a logical program known as “The Business Credit Builder”. This program assists a business in improving its credit, thereby making it easier to quality for funding from various sources.
Next, after improving the credit rating of a business, the loan products that are currently available from a variety of sources are presented to the business owner in an easy-to-follow manner. Afterwards, Mr. Hornbacher puts the business acumen of his company to the test, leading his client through the “credit maze” in order to get them funded.