Discussion Topic: Module 5 Discussion 2 – Funding

Module 5 Discussion 2 – Funding Name Institution Course and Code Professor Date Module 5 Discussion 2 – Funding A sports facility can be funded by borrowing from various. First, entrepreneurs without the standard collateral banks need could look into Small Business Administration (SBA) loans. The longer repayment terms and generally lower interest rates offered by SBA loans might make financial hardships more manageable (Watson, 2024). A Minority Business Loan (MBL) is a second option for financing the sports facility if it is intended for a particular minority population. Additional support and incentives may be available with MBLs designed to encourage economic growth in neglected areas. Several factors influence the probability of obtaining these loans successfully. The first factor is a well-developed company plan. Second, financial forecast lenders will want to review cash flow, income-generating strategies, and the facility's long-term viability (Caselli et al., 2021). A significant advantage is having a documented sports industry track record or considerable running facility knowledge. An excellent credit history helps borrowers know whether they can pay a loan, improving their chances of successfully securing the loan. Securing a loan also comes with a few possible challenges. Lenders will consider the facility's site, projected customer base, and degree of market rivalry (Bryan et al., 2024). If there is little demand for sports facilities in the area or previ...