I am a 66 year old woman and have my own business for the last 15 years and
It seem now I need to get some help and I can seem to find the help I need.
The bank tell me I don't show the income to repay but I am paying the high
interest now so how can I get some help to make it through and keep business
open. Please tell me where I can go for help and how to get a lower interest
rate and keep my business open and have money to make it larger and have
employee to help me. Thank in advance Patsy Monroe
Hi, it seems that is a really tough spot to be in after being in business for
such a long time. Have you tried looking internally at your business and
accept that if the business is maintaining a steady income that maybe now is
not the time to try and expand but maybe try and improve it's current model
and make it more profit efficient. Borrowing more money is not always the
answer it seems in this current climate.
kmurray | Community Moderator |
7/31/2012 - 8:55 am
Hi Patsy,
That's definitely a tough spot to be in. Have you considered borrowing from friends or family? We have a blog post that offers insight about how to do just that. You'll also find information about SBA-backed loans here on our website. You might also try getting in touch with a local Small Business Development Center, which is one of SBA's resource partners. They're located across the country andprovide free business counseling and answers. Visit SBA Direct to find your local SBA resource partners by entering your zip code.
katiekades | Window Shopper | 8/7/2012 - 9:52 am
tough so why not grab a partner?
MrJackson | Window Shopper | 8/6/2012 - 5:07 pm
such a long time. Have you tried looking internally at your business and
accept that if the business is maintaining a steady income that maybe now is
not the time to try and expand but maybe try and improve it's current model
and make it more profit efficient. Borrowing more money is not always the
answer it seems in this current climate.
kmurray | Community Moderator | 7/31/2012 - 8:55 am
Patsy Monroe | Window Shopper | 7/31/2012 - 7:42 am
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