A business loan is a business loan is a business loan.

Well, not quite. If you think that all business loans are created equal, then you better not walk into a bank anytime soon to apply.

Yes, you may very well have used your own money to start your small business. But let's face it; you don't want to stay quite that small forever, now do you? Eventually, you'll discover that your business is taking off and you may need to augment the growth by borrowing some money. Whether you need it to help with your cash flow during slow times and growing pains, need it to buy new equipment, hire new employees, or get a bigger office - it's always wise to know what your options are.

Quick, here's a quiz for you. When is the best time for you to think about the ability of your company to acquire a business loan?

Give up? Before you get a business license. Before you incorporate. Even before you open your doors (figuratively or literally.)

That's right Don't think of a business loan as an "if" in the life of your business. Consider from the moment that you start putting your pen to paper to create your business plan, that a loan is only a matter of when. You don't need to know what specifically you're going to use it for yet. That's not the point.

If you're a beginner to the wide world of business financing, you may feel a bit overwhelmed by the massive amount of information that you don't know. You may start to feel like you got in over your head, kind of like taking an accidental step into the deep end of a swimming pool. A nugget of truth that may offer you some comfort is the fact that you aren't alone. This happens to everyone who is still wet behind the ears when it comes to business financing. But not to worry, here are a few do's and don'ts that can help you pull your head above water.

We'll start off with a few of the things you should already be doing, or should be making plans to do in order to get started financing your business. A great tip for beginners in business finance is to set up a sturdy budget, cut back on unnecessary spending (such as only buying one six-pack of Bud instead of two), and stash that extra cash in a safe place. The money that you save will be used to finance your business. This type of business financing system has a lot of perks, such as not having to worry about paying anyone back for money you borrowed. This should be the primary source of the capital you use to start your business with.

There comes a time in the life of every business when the need for a loan arises. Whether is's for expanding your products or services, adding on and training new employees, upgrading equipment, stocking inventory, purchasing real estate or investing in a new business opportunity, a loan is often your best option.

Q. What types of loans are available?

1.) Micro Loan - $5,000 to $35,000 small business loans that can be used for any business purpose.

2.) SBA - Loans to small businesses from private-sector lenders (banks, etc.) which are guaranteed by the SBA. (The SBA has no funds for direct lending.)

3.) Franchise Financing - Specialized financing reserved for the franchisees of recognized, typically nationally known franchises.

4.) Development Financing - Loans to small businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.

5.) Import Export Loans - Export financing of U.S. goods and services through a variety of loan, guarantee, and insurance programs.

Remember, only apply to a lender you trust, and never give out your personal or payment info over the phone.

You're frustrated with your current job. I can see it in your eyes . . . and tisk, tisk, in the words you're using to describe your boss! (You probably shouldn't be using language like that - at least not within earshot of him!) You've threatened to start your own business before, but this time you're serious. And frankly it's about time!.

Of course, it's a huge step. Yes indeed, one wrong move could hurt your new venture. But think about what happens when you take all the right steps and the plan comes together. It's 'so long, boss, and 'Hello, business world!' That's why you need to arm yourself with as much knowledge as you possibly can before you jump into anything.

We've all heard the old adage - "Buyer Beware!" but an even more important warning to heed is "Borrower Beware!" As we build our businesses, we can't escape the fact that we need loans and credit, but it's vital that business owners keep their eyes open for fraudulent credit and loan providers.

There are many common tricks that fraudsters use when targeting vulnerable new business owners. They know that when you're starting out, good credit and a nice loan can be very tempting. Some things to watch out for are calls from companies that are making promises to quickly consolidate your debts or provide you with loans -especially when you know you're credit is not top-notch. If something sounds too good to be true, it probably is!

Starting up a new company is a lot like learning how to cook a fancy home-cooked meal. It can seem intimidating when it's your first time, but as long as you have all the ingredients and know how to follow directions, you'll be a master chef in no time! Most individuals looking to branch out and start up a business simply lack the proper ingredients or elements they need to get their business off the ground. One of the first problems people run into is raising the capital needed to start their business. There are a lot of options to choose from, such as using your own personal savings or a small business loan.

The most highly recommended place to get the cash flow needed for your new venture is your own personal savings. If you dream of being your own boss, calling all the shots, and kicking back with your feet on the desk, you're more than likely going to have to put your own money into making your dream a reality. You should start saving now, if you haven't already, so that you can plan ahead for the launch of your business.