Sageford Loans' guides for Richmond, Indiana owners cover the city permit and zoning records to check before an expansion and a machinery loan calculator. This page also links the Indiana state offices owners deal with and explains time in business, FF&E and the Indiana Small Business Development Center.
Indiana State Offices Owners Deal With Before a Funding Request
- Indiana Secretary of State, Business Division: business entity filings and records.
- Indiana Department of Revenue, business taxes: registering a business for state taxes and filing returns.
- Indiana Small Business Development Center: business advising and training; ask the center about any fees.
- City of Richmond, Indiana: city departments, permits and planning.
Partners can ask for proof that a business is in good standing, so check the state records before sending a request.
What Is Time in Business, and Why Do Partners Ask?
Time in business is how long the business has operated, counted from its formation date or its first sales. The online form asks for it as a range, because it is one of the first things a funding partner weighs: a longer record gives the partner more statements and returns to read. A business bought from a previous owner can point to the business's full history, not just the new owner's.
What Is FF&E in Business? Furniture, Fixtures and Equipment in a Purchase
FF&E stands for furniture, fixtures and equipment: the movable items a business uses, such as tables, shelving, kitchen equipment and computers. It comes up in two places. In a purchase of a business, the agreement lists the FF&E included in the price. In a build-out, FF&E is the part of the budget that equipment financing can cover, separate from construction work.
What Is an SBDC? The Indiana Small Business Development Center
SBDC stands for Small Business Development Center, part of a national network funded in part by the U.S. Small Business Administration. The Indiana SBDC offers advising and training for businesses at every stage, including help preparing for financing; ask the center about any fees. Sageford Loans is not affiliated with the SBDC in any way.
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