Ervin Hughes, Jr. presented two topics in one presentation at the Amazon Small Business Summit: How to Get a Business Loan and How to Build Business Credit. In under 20 minutes, learn two valuable business lessons.
Download the presentations for reference: How to Get a Business Loan. Below is a summary of the main points from the How to Get a Business Loan.
What Loan Applicants Should Know
Business lending is different than consumer lending. Most people understand consumer lending due to previous borrowing experiences from credit card approvals or purchasing homes or cars. Business lending requires two qualifications. The business owner(s) must qualify and the business itself must qualify by meeting credibility guidelines. Most lenders will not charge any upfront fees; however, business lenders will typically charge some type of fee at closing, so be prepared to pay some amount of fees.
Watch the How to Get a Business Loan video
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Ervin Hughes, Jr. s a native of Houston, Texas and an award-winning, commercial finance and business consultant. He is the founder and President of American Credit Assurance, LLC, and a Managing Director at Rainstar Capital Group. He co-hosted the Small Business Today Show on the Wall Street Radio Network. As a former commercial banker with more than 25 years of successful experience he has served more than 4,000 small businesses and arranged more than $100,000,000 in financing nationally. Mr. Hughes’ has been recognized for his achievements by the U.S. Department of Commerce, Texas Department of Transportation, NFL Houston Texans Football, the National Investment Banking Association, and a host of major U.S. corporations, and federal, state, and local government agencies.
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