Hispanos Emprendedores

10 Mistakes you should avoid when applying for a loan for your business

7 Ideas to start a home business

Clarksville is growing and is one of the best cities in Tennessee to live and work in. Many of the people who live here prefer to have their own business, without having to go to an office every day. Hispanos Emprendedores brings you seven ideas to start a home-based business.

ARE YOU READY TO WORK FROM HOME?

Running a business from home has many advantages such as flexible hours or being your own boss. But it also requires a lot of effort and organization. It will not always be a good day and you will have to find the motivation to be consistent with your venture.

Working from home has become popular, especially among younger generations. Sometimes it is not a matter of preference, but that circumstances force us to start a business of our own. Whether you are going through difficult times or have decided to start your dream company, you should know that there are many opportunities to start a home business.

To choose what to work on, you must be clear about your skills and experience. You must have a passion for what you are going to do, otherwise, the time will come when you get tired of the work. Or, you will not try hard enough to have a successful business

IDEAS FOR STARTING A HOME BUSINESS

If you are set on being your own boss, these are some home business ideas that you can commit yourself to. Or at least they will inspire you to discover which talents you want to use the most. For more www.hispanosemprendedores.com

The Affordable Care Act includes the individual shared responsibility provision and the premium tax credit that may affect your tax return.

The individual shared responsibility provision requires you, your spouse, and your dependents to have qualifying health insurance for the entire year, report a health coverage exemption, or make a payment when you file. In addition, you may be eligible for the premium tax credit if you purchased health coverage through the Health Insurance Marketplace.

Reporting Coverage Most taxpayers already have qualifying health care coverage,

and will simply check a box on their tax return.

Find out if your coverage qualifies Report health coverage on your tax return. For more www.hispanosemprendedores.com

SEEK ADVICE BEFORE SEEKING FINANCING

One thing that’s for sure when starting a business is that you need enough money to start it. Some people invest money from their own savings, turn to relatives and acquaintances in search of a loan or request personal loans to start. By doing it this way all the risk falls on them, for this reason, they prefer to obtain some type of external financing.

Obtaining a commercial loan is more complicated for new businesses or for those that have been operational for less than one year. This is due to the requirements set forth by banks and other organizations that offer financing.

To increase the chances of getting the necessary capital, it is best to get prior advice. There are different organizations willing to help entrepreneurs in this task. Among these are:

• Small Business Administration (SBA): has different financing programs for small entrepreneurs, even those that are just beginning. In addition to financial advice, it serves as a link between entrepreneurs and banks.

• Clarksville Entrepreneur Center: helps small entrepreneurs develop their business idea and make it a reality. They offer workshops and advice. For more www.hispanosemprendedores.com

WILLIAN AND ISABEL ARE A HISPANIC COUPLE WHO ADHERED TO THEIR BELIEFS AND VALUES TO DEMONSTRATE THAT WITH SOME EFFORT AND WORK IT IS POSSIBLE TO FULFILL A DREAM.

Willian and Isabel are a Hispanic couple who adhered to their beliefs and values to demonstrate that with some effort and work it is possible to fulfill a dream.

“In all things God works for the good of those who love him.” (Romans 8:28). This biblical quotation is a reality for Willian

Alfaro, a Salvadoran resident in Clarksville, who gave the best of himself in one of the hardest moments of his life.

A few days before Christmas in 2009, Willian was fired from his job and was left completely adrift. With bills to pay and worried about his future, he made a request to God, that today is the key to the success of his business, according to Willian himself. “I cried and said, God, give me a business! I promise you for the love of my mother, my wife, and my children that I am not going to do the same thing that was just done to me.”

Only a few hours passed before receiving an answer to his prayer. “He listened to me and within hours I received a phone call to start working on my own.”

This is how Williams Painting was born, a company dedicated to painting homes and businesses in Clarksville. Together with his wife Isabel, Willian found the ideal balance to start a business that would allow him to provide economic stability to his family.

Since then they have been an inseparable pair in this business, with which they have been able to set themselves apart for their quality of service and their excellent workmanship. They also founded a new company called Sparkle Cleaning Services from where Isabel coordinates and... For more www.hispanosemprendedores.com

To start a business or expand it, capital is needed. Borrowing from banks and other entities is an option to raise the necessary funds. Increase the chances of being approved by memorizing these mistakes that you should avoid when applying for a loan for your business as suggested by Hispanos Emprendedores.

Traditional banks and other types of lenders offer financial support for entrepreneurs. However, before delivering the money to anyone who applies, they evaluate the risks very well. Every lender wants to make sure he puts his money in the hands of someone responsible; that the business has a vision

for the future and that it will be able to recover its money. Therefore, they will carefully analyze each request, looking for warning signs. As an entrepreneur, you may be faced for the first time with the application for a commercial loan. Or that you may have already applied, and they have rejected you. There are mistakes that are very common when applying for financing. The following list contains ten of these so that you do not commit them when requesting your business loan.

MISTAKES YOU SHOULD AVOID WHEN APPLYING FOR A LOAN FOR YOUR BUSINESS. For more www.hispanosemprendedores.com