A tax tip for getting a business loan

As your business grows, it’s key to plan for things like hiring employees or buying equipment. The good news is that there are a number of options for funding your growth, but it’s also important now to think about how to best qualify for the loan.

And this is a good time to consider a business loan, since rates are still relatively low.

But with tax season here, a common mistake we’ve seen is an overly aggressive “tax avoidance” approach. If you only think about minimizing taxes, you may not show the cash flow necessary to secure a business loan.

– Ron Ciganek, Valley Bank