The Pros and Cons of Taking Out a Loan to Fund Your Creative Business

Taking out a small business loan can be a daunting option—lending standards are tight, and paying back loans can be risky when there’s no cash flow coming in. But sometimes some kind of outside financing is necessary to get your creative business off the ground—loan money can cover important overhead like payroll.

So if you’re interested in beginning to weigh your loan options, please loan us your attention for a moment, and read (with interest!) this beginning look at some of the pros and cons of taking out a loan.

When you’re ready to do even more research, the Small Business Guides has a list of different types of loans available for small businesses in Washington State. 

Also, check out Wheelhouse’s guide on how to write a killer business plan, a crucial tool in convincing banks that your venture is worthy of a loan. You got this!