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Getting a Business Loan: Financing Your Main Street Business by Ty Kiisel

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Getting the Right Bank Loan

My Porridge Is Too Hot!

As a little boy, I loved the story called The Three Bears, but it also frustrated me. I didn’t think Goldilocks was that bright. Who would eat the porridge, break the chair, and then crash in the bed upstairs? Nevertheless, the story teaches us that one size does not fit all—a lesson that is particularly relevant to small business financing.

When looking for a loan at the bank, you’ll likely hear about term loans and lines of credit. It’s important to determine which option is “just right” for you and your situation.

Term Loans

This is probably the type of loan most Main Street business owners ...

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