Expert answer:Discussion 1 week7
Expert answer:Sources of Debt FinancingPlease respond to the following:Briefly describe a small business you could envision
yourself owning and discuss the most appropriate source of debt capital
for that business. Explain your rationale.
From the e-Activity, discuss how you could best use an
SBA loan to get your business running or expanding. Provide specific
examples to support your response.
The
small business I have in mind is a simple and local restaurant. Owing
to insufficient funds, debt financing would be a suitable alternative to
developing my business idea. Debt financing entails borrowing funds
from several creditors such as family members and banks to start-up the
enterprise with the hopes of paying them at a future and agreed time the
loaned money plus interests. The benefit of debt finances is that they
can be unsecured or secured. A possible avenue to acquire debt financing
will be through requesting an SBA loan from a nonprofit subsidiary,
credit union, or local bank. An example of an SBA loan would be the
Microloan program that allows all eligible businesses to apply for
consideration. Debt financing only needs the interest and the principal
to be repaid. Any company has full ownership of each and every penny of
profit which they make through this debt-financing.
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