As you know, I opened my own shop a few months ago. What an adventure it has been. Being a small business owner is hard work – a lot of hard work! I’m proud of myself for taking the plunge, but disappointed that I have not given it much attention in the last month or so.
I recently had surgery on my elbow to correct an issue with the ulnar nerve. Since last summer, I haven’t had feeling in my left pinky or ring fingers; and often pain would shoot up my arm. I am pleased that the surgery was a success, and am hopeful that next week the doctor will give me the go ahead to get back to life. I haven’t been able to touch my sewing machine in weeks.
What I have been doing to keep my head in the business, is reading up on what it might take to secure one of the Small Business Administration loans. I know that I need to focus on my business plan – what are my goals? – and determine my assets and how much capital I already have. This should be fairly easy – I have a sewing machine, some fabric, pins, and scissors. I have a bit of money stashed away, too.
One day, I’d love to have my items featured in local shops across Cape Cod. I’ll need sit down behind my sewing machine for several days to crank out new merchandise, but that is something that I long to do! As I prepare to apply for this loan, I think I’ll take photographs of what I’ve already created and include drawings of future products, too.
What steps did you take when preparing to apply for a small business loan?
I have no experience here but I wish you the best of luck!!!