Sba's Business Loans example essay topic

The name of the small business that I will be opening is the T-shirt Planet. What is unique about T-shirt planet is that I will be caring smaller brands, which are not sold everywhere. The difference is that, that my store will have the new "unisex sizing" T-shirts. Which are really for both men and women? Many customers prefer to buy one unisex style instead of purchasing separate men's and women's styles in two different size scales. What is best about the new unisex sizing is that they offer the best fit in a garment style for both men and women.

I will be carrying patriotic (USA Flag) T-shirts, T-shirts with animals and cool masc at art. I would also have some military styles in colors of fall. My business is a part of clothing industry. IN a clothing industry it's important to have new fabrics in the line such as cotton terry, and polyester. "Loyal fashion customers don't want to be surprised", Cohen advised. "They want to be comfortable and take pride in what they buy".

Clothing industry is very exciting, because it has to serve up fresh looks season after season. It also has to maintain consistent styles and fit standards while offering new colors and fabrics among customers. I will be targeting teenagers, and also people in ages of 20 to 37, no matter what gender and ethnicity. The geographic region where my T-shirt Planet will be located is Miami, Florida. I choose this region, because of its warm climate, which attracts customers. Most of my customers would be the tourists and the people living there.

To finance my business I would have to go to the bank, which offer Loan Guaranty Program, Small Business Investment Companies and Low Doc. One page SBA loan. SBA's business loans are actually made by private lenders such as banks, but repayment is partially guaranteed by the agency. Guaranteed loans may be as large as $1,000,000. The average size of an SBA guaranteed business loan is $208,000. Term of this loan depends on ability to repay; generally working capital is 5-7 years.

If the loan term is under 7 years, the maximum prime rate is 2.25%; 7 years or more, the rate will be 2.75%. The One page SBA loan is same as Loan Guaranty Program except it may not be used to repay certain types of existing debt. A Small Business Investment Company (SBI C) is a privately owned firm that provides venture capitol to small enterprises. Sics are intended to be profit making organizations.

The easiest way to finance your business is to use your existing credit cards or establish a credit card on your business. This type of financing requires a decent credit history.