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Getting a Loan to Expand a Graphic Design Firm

06 December 2013 by Popeye

In order to be in a position to expand your graphic design firm, you may need to get a loan. This can be better than allowing people to buy equity in the firm. After all, your obligation to the lender ends the moment you repay the loan. But if you allow people to buy equity in the firm, they become lifelong stakeholders in it: forever getting shares of the profits that the firm makes henceforth.

The first step in getting a loan to expand a graphic design firm is that of identifying the financial institution where you intend to take the loan.

The second step in getting a loan to expand a graphic design firm is that of approaching the credit officer in the financial institution you identified, with a request for the credit facility. Before doing this, you may need to get information about the documents that the financial institution requires, before advancing credit facilities. Then you may need to prepare those documents in advance, so that when you go to make a presentation to the credit officer, you get to actually make the right impression.

Ultimately, you are likely to be successfully in getting the loan if you are creditworthy, and if you are a client who consistently does banking with the financial institution in question.

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