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Business Tips

1.  Business loan applicants are evaluated based upon the 5 C’s of credit, which         

     include:

 

                -Capital

                -Collateral

                -Capacity

                -Condition

                -Character
 

     Did you know that you can obtain a free credit report annually at  

     annualcreditreport.com?

2.  A good business plan must include a marketing plan. The plan should address the 5
     P’s of marketing.

 

                -Product

                -Positioning

                -Place

                -Price    

                -Promotion


     You should always research the competition and determine
      your niche market.

3.  It’s a good idea for business owners to update their business plan annually.
     Evaluate what occurred during the previous year and determine the changes, if
     any, that need to be made. Compare your actual financial performance to your
     projections.