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Old 20th September 2017, 09:45 PM   #1
AngelBiz
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Join Date: May 2010
Location: Detroit, MI
Posts: 1,117
Default 4 Tips To Get The Most Out Of Business Loan

Taking out a small business loan can be the key to improving your revenue. However, there is a right and a wrong way to use your loan. If the loan money is used wisely it can help accelerate the business growth. On the other hand if it not handled carefully you can lose it all and end up filing for bankruptcy. Here are 4 tips you can use to get the most out of the business loan and improve your business.

1. Keep the money separate

One of the most important things you can do with your small business loan is to keep your loan funds separate from your other funds. When you keep all the money in one account, it’s easy to overspend. Storing the money in a separate account makes it easier to only use the funds that you need. It makes you think about whether or not you actually need to use the funds.

A smart way to go about separating your funds is to store the loan funds in a secondary business account. When your primary business account doesn’t have enough to cover your expenses, you can transfer the amount you need from your secondary account. Instead of overspending, you’ll think carefully about how you spend your loan funds.

Read more - http://www.smallbizviewpoints.com/20...business-loan/

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