{"id":4715,"date":"2013-03-21T17:32:30","date_gmt":"2013-03-21T21:32:30","guid":{"rendered":"https:\/\/futurpreneur.ca\/?p=4715"},"modified":"2024-02-14T10:39:05","modified_gmt":"2024-02-14T15:39:05","slug":"is-borrowing-the-right-choice","status":"publish","type":"post","link":"https:\/\/futurpreneur.ca\/en\/blog\/is-borrowing-the-right-choice\/","title":{"rendered":"Is borrowing the right choice?"},"content":{"rendered":"<p><em>Karen Milde, <\/em><a href=\"http:\/\/www.reframemarketing.com\" target=\"_blank\" rel=\"noopener\"><em>Reframe Marketing<\/em><\/a><em>, Vancouver, BC, CYBF Mentor<\/em><em><\/em><\/p>\n<p>There are three things to consider before deciding whether or not borrowing is the right choice when expanding your business:<\/p>\n<ol>\n<li>Do you have a solid business plan to back up this decision?<\/li>\n<li>What are the assets you possess that will convince your lender that you mean business? This could include a house or your own personal savings.<\/li>\n<li>Do you have a \u2018Plan B\u2019 if you aren\u2019t able to repay the loan?<\/li>\n<\/ol>\n<p>Once these questions have been settled, there are a number of options to choose from when borrowing money:<\/p>\n<ul>\n<li>A business credit card is a good short-term option, with generally a month to pay the money back.<\/li>\n<li>A line of credit is also an easy choice for small businesses, taking and paying back only what is needed.<\/li>\n<li>Term loans provide longer term payments and larger amounts from banks and financial institutes.<\/li>\n<li>Venture capital and angel investors are options if you are willing to relinquish an amount of control to outside investors.<\/li>\n<\/ul>\n<p>To ensure you are making the most favourable decision for your business, it is best to consult with an expert from each option. Good luck being a wise borrower and expanding your business!<\/p>\n<p><em>About: With over 8 years of experience in Marketing and Communications, including a stint as Marketing Director, Karen Milde is all about the bottom line and marketing ROI. She is a go-getter, and prides herself on being technology savvy.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karen Milde, Reframe Marketing, Vancouver, BC, CYBF Mentor There are three things to consider before deciding whether or not borrowing is the right choice when expanding your business: Do you have a solid business plan to back up this decision? What are the assets you possess that will convince your lender that you mean business? [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16],"tags":[],"class_list":["post-4715","post","type-post","status-publish","format-standard","hentry","category-money-and-finance"],"acf":[],"_links":{"self":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/posts\/4715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/comments?post=4715"}],"version-history":[{"count":0,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/posts\/4715\/revisions"}],"wp:attachment":[{"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/media?parent=4715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/categories?post=4715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/futurpreneur.ca\/en\/wp-json\/wp\/v2\/tags?post=4715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}