Small Business Loans � Financing the Future
If you were to ask people to list businesses that likely have an affect on the overall U.S. economy, no doubt a list of usual suspects would emerge: Sears, General Motors, Wal-Mart, Exxon Mobil, General Electric and more of the big boys. The U.S. economy however, has an even greater force behind it � small business. The principal source of new jobs in the U.S. economy is a result small business, while accounting for more than half of the GDP (gross domestic product) generated and employing over 50 percent of the private workforce in the U.S. The backbone of the U.S. economy is supported by small business owners, many who are sole proprietors.
Large corporations simply do not happen overnight. Sure, there are those optimistic stories, or at least perceptions of the rare, immediate success stories in business, but a little prudent research will reveal a common thread of reality � they first started out as small business and like all small businesses of all sizes, they required financing.
Even Sam Walton needed a small business loan to get started back in 1945. Nearly two decades before opening his first Wal-Mart department store, Sam Walton began as a small business owner following his military service during World War II. Walton did what most small business owners do, he invested his own savings, but even that isn�t always enough. In order to open his first variety, retail store, Walton combined $5,000 of personal savings from his Army service and a $20,000 small business loan. Even if you are your only employee, getting your new small business off the ground and in a positive starting direction, will require initial capital.
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