Question
Do you agree or disagree with how I arrived at this answer. Are there any alternative financing options that may be even better? From the
Do you agree or disagree with how I arrived at this answer. Are there any alternative financing options that may be even better?
From the Forbes article below and titled Who Is Getting Small Business Funding: Millennials or Baby Boomers? I really enjoyed reading this article because it actually applies to my life right now. My husband and I own a trucking company (super small) and we are trying to find the best options for business lines of credit. This article spoke about how its harder for Millennials to get funding through banks and often have to go outside of banks and seek out higher priced lending. Baby boomers have an easier time getting any type of funding they need because theyve had a much more established credit history.
The3 important points Id want to take away from this article are:
- Stay on top of expenses
- Dont grow too quickly
- Banks want to see about 3 years of financial history before making a lending decision.
Reference
https://www.forbes.com/sites/rohitarora/2017/06/01/who-is-getting-small-business-funding-millennials-or-baby-boomers/#48a26d8f6943(Links to an external site.)Links to an external site.
Hawkins/1
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