Small Business Owners Now Have Easier Access to Short-Term Lines of Credit

The nation's largest small business bank recently launched a new credit product that seeks to help small business owners capitalize quickly on market opportunities.

The Bank of America is offering the Business Credit Express® product, an unsecured line of credit of up to $100,000, to enhance the competitiveness of the small business owner. The new product provides owners quick and convenient financing, allowing business owners to improve their cash flow, purchase inventory and deal with general emergency expenditures.

The new Credit Express product also provides for the flexible movement of funds without the standard charges associated with other credit products. In addition, the Bank of America has simplified the credit application process and the bank will waive the $100 annual fee for any business in its first year of operations.

More details on the Bank of America Credit Express product line are available at:
http://biz.yahoo.com/prnews/060814/clm010.html?.v

A step by step plan on getting a startup business loan

Everyone knows that banks typically give out business loans to existing companies. They rarely give out a loan for a start-up venture.

But just because they don't do it often doesn't mean it's impossible. The Shreveport Times recently offered a step by step process for securing bank funds for your startup venture:
http://www.shreveporttimes.com/apps/pbcs.dll/article?AID=/20060731/NEWS05/607290325/1064

Of the six steps mentioned in this piece, I feel that the two most important ones are having solid personal credit and having plenty of your own cash, but all of the steps that are outlined in this article are valid.