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How a Payday Loan Can Help in your Small Home-Based Business

Written By emilie dane on Monday, February 11, 2013 | 6:27 PM

Everybody is already familiar with payday loans. They are loans that you can get almost instantly without a credit check. Most people getting a payday loan use it for many different purposes - for financial emergencies, such as hospital bills, medication or car repairs, for vacations, for avoiding late payments in bills and yes, even for starting a small home based business.

Payday loans can grant you up to $1,500 and this amount is already sufficient enough to get your supplies and start selling.

But wait, before you go and get your payday loan, know that payday loans are also short term loans that need to be repaid after 30 days. Therefore, you have to keep this in mind. Plan your small business carefully and project when income will most likely be coming in so that you will have an idea if you can fully repay your payday loan on its due date.

If you have a hobby, say jewelry making or scrap booking or you have the talent of for assembling gift baskets in a unique way, then you can turn this hobby into a home based business. Keep in mind though, that your product should serve a need. That is, determine if the demand for your product is increasing.

Once you are approved of a $1,500 payday loan amount, you can use this payday loan money to buy your supplies and sell first on eBay. Anybody can become an eBay merchant and it takes just five minutes to become a member. Not only is selling on eBay easy, it is also profitable since millions of buyers in the U.S. check out eBay everyday.

Selling on eBay means that you also have to ship your products to different locations - start within the U.S. first. So you have to make sure that you also package your products attractively and safely as well. You also need to know how much it would cost you to ship your product so that you can bill your customer for the shipping cost separately, or if it is very minimal, you can include the shipping cost to the item's price.

A thing to keep in mind is that your products will not sell instantly. However this should not discourage you - give it time. If after a week your product is still not selling, examine it: is it uniquely crafted? Is the quality ok? Is the price reasonable? Try to look at other similar products selling on eBay and compare it to yours - maybe you can lower the price of your product or offer extras such as free shipping if they buy in bulk or for instance if you are selling jewelries, you might want to incorporate semi-precious stones and have it personalized, like you can engrave their names on it.

A payday loan is always at your disposal anytime you need it - all it takes is the courage to start a business and the goal to succeed that must come from within you.

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