
Where to begin? Quit your job, read the Four Hour Work Week, then what? There’s a ton to figure out and we are certainly in the thick of it getting pluURL off the ground.
Today, Yaw and I ventured to the local Chase bank in business casual, prepared with our letter of incorporation, Employee ID Number, and eager to open a small business account. The process was pretty quick and it was made more entertaining by the fact that our consultant was in the same fraternity as us. He didn’t cook our numbers when we asked him to file our small business loan application, but he did longingly reflect on his college days and trips to Vegas (pre-marriage).
However, one important thing he relayed to us was just how unpredictable securing a small business loan can be. He explained that a small business loan (or a line of credit) is loosely tied to an individual’s credit history … but that’s about it. Startup costs, projected expenses and monthly income … just plug in the numbers click send and pray.
As we grow our business, it’s a increasingly clear that a loan is essential to bring people on full time. From organizing client calls to picking up last-minute design and development work – there’s a lot that needs to get done and two full timers can only handle so much.
A loan won’t necessarily make money fall from trees but it will certainly bring us one step closer to making processes more efficient.