Small business loans for new business ventures are not as easy to get as personal loans, because of the failure rate of new businesses.
Small business loans require a lot more paperwork. They require a business plan and will require collateral.
Sometimes it's easier to get a personal loan and use it for your business. From an accounting point of view, the business has borrowed money from you, therefore when the business makes a profit, you repay the loan, and to yourself, and the money is tax free.
When you can get a small business loan, then it's the way to go. If you find you have to go through a lot of red tape, then get a personal loan and use the money in your new business as you see fit.
That's The Way I See It!
Acey Gaspard
A Touch of Business.com
For More on This Topic See:
Small Business Loans and Where You Can Find Them
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