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What could I say? A month ago it was a piece of cake. All I had needed to get a pretty substantial line of credit was my certificate of incorporation, a DUNS number and three months of banking statement.

It was like David had walked into a parallel universe. The same bank demanded audited financials (which I had not needed), six months of business banking statements (I had needed three months), six months of personal banking statements (which I had not needed), AND ... you guessed it ... a business plan (also which I had not needed). Oh, yes, the certificate of incorporation and DUNS number was still needed.

But audited financials? And a business plan? For a modest line of credit?

Wow. The world of small business finance is changing overnight.

In truth, Biggie Bank had pulled its local advertising. I hadn't seen an ad since I first approached them. It was like shouting, "Hey, all you Little Guys, scram! We really don't want you any more."

Look for more of this over the next few years. We (as in "We, the small business owners") have had it real good for a long time now. But the trend is definitely toward the Old Days, when full documentation and business plans were expected.

A decade ago, it wasn't unusual to get the feeling that bankers presumed you were guilty until you proved your innocence. Well, we're heading back to those days again.

Make it as easy on yourself as possible. Start gathering the information long before you need it. Then, when you are ready to start drafting, it won't be quite such a massive project.

The money is still there. And business loans will still be made. It just won't be easy.

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The Library of Congress brings us a whopping list of online resources for researching and hooking up with industries. Many are listings of organizations, an invaluable resource of information that we don't talk about often enough. It includes Chambers of Commerce, news services, and lots and lots of industry categories. This is a "must" stop on your researching road.

URL: http://www.loc.gov/rr/business/beonline/subjectlist.php

See Catering Business Plan

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Would you like a bit of help getting a successful web site up and running? Your SBI Coach is the answer. Fast, professional and very effective.

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"Leadership is a potent combination of strategy and character. But if you must be without one, be without the strategy."

H. Norman Schwarzkopf, General

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