Candice and Brian contacted Chicago Business Booster (CBB), a non-profit funding company that specialises in small businesses, and received the brochure below. Read the text, then choose the correct answer (A, B, C or D) for questions 1–7. Put a cross ( ) in the correct box. The first one (0) has been done for you. Reading i i I can understand information on financing a business. I can understand business expressions for loan applications. I can find key information in an informative brochure. 2 Reading Chicago Business Booster Financing a start-up is one of the toughest tasks a new business owner can have. You might have a great idea for a business and a good business plan but still not qualify for a traditional loan. Many financial institutions just don’t lend money to businesses that do not have a successful history of at least two or three years. Why are start-up business loans so hard to get? Lending money to start-ups is riskier than to established businesses because, without evidence of a company’s success, there’s a smaller chance the business will be able to repay the loan. Part of our mission is to help small business owners obtain the financing they need. When we lend capital to your business, we also help you get “loan ready” if you aren’t already. What makes us different CBB is a non-profit community lender helping entrepreneurs generate income, create jobs and achieve financial success. Our network serves small businesses in communities across the U.S. and is made up of four certified Community Development Financial Institutions. We’re more than lenders. We’re lending partners. With over 25 years of experience, we can offer: capital, advice, and a community of support. Our repayment terms and service from lending experts are personalized. Who we lend to If you’re looking for a lender who will take the time to get to know your strengths and opportunities, CBB is the lender for you. We offer loans for ü Small businesses ü Green businesses ü Start-up businesses ü People with disabilities CBB has worked with thousands of start-up businesses across the country. Typically, our start-up loans require that you have an outside source of income (other than the business) to support the loan. Also start-ups may be required to have a business plan with a 12-month cash flow projection1. Get the solution and the support you want Our loan experts work one-on-one with you to tailor solutions to you, your business and your goals. Apply online, in person, or call us. Get started by telling us about your business and financing needs. We welcome the chance to get to know you and your business. Questions? We are here to help. Local connections and knowledge We understand the small business landscape in every community, and connect you to our network of bank partners, other mission-based lenders, local businesses, non-profit and government agencies. What we fund • Getting inventory2 • Professional expenses • Buying or leasing equipment • Hiring employees What is the application process like? Apply online and we’ll be in touch within two business days. If you’re a good fit for us, a lending team member will work with you one-on-one to write the strongest loan application possible. This will include confirmation of the information submitted in your application, as well as other documents to help us understand your business situation. Fair rates You can count on us to offer accessible loans that are both fairly priced and flexible. Our rates range from 7%–34%APR (annual percentage rate). They include the fees and interest rate associated with a loan and represent the yearly cost of borrowing funds. What if I don’t qualify? If you don’t qualify for a loan, we’ll give you the information you need to improve your financial situation so that you have a better chance of qualifying on your next application. Typically, you’ll be able to reapply in three to six months. 1 cash flow projection: this gives an overview of how much cash a business is expected to have on hand at the end of each month. 2 inventory: the goods and materials owned by a business. 66 Nur zu Prüfzwecken – Eigentum des Verlags öbv
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