Small Business Loan Funding
We have all had questions on Small Business Loan Funding before. Below are the top questions posed by visitors just like you to our. We hope our answers located below will help you solve your funding problems today. Feel free to ask another question, or even comment on what has been written.
There has been a lot of debate recently regarding Small Business Loan Funding, and it is therefore critical for you, the reader, to grab all of the information that is out there on the vast topic of funding. Your funding can have a huge impact on your future, so don’t procrastinate any longer. Read up on Small Business Loan Funding today!
Katrina Said:
Where can I get a small business loan now?We Answered:
www.sba.govSmall business administration is the place to turn. If I remember correctly they require that you apply, and get turned down, from 3 local banks, then if you qualify they will hook you up with a "guaranteed" loan.
Their website has lots of good info. Good luck.
Julian Said:
Small business loan or funding...?We Answered:
Any lender will require a business plan that shows that you can pay the loan back. Go to sba.gov/smallbusinessplanner/plan/writea… for instructions on how to write a business plan.Jennie Said:
I was turned down for a small business loan due to lack of credit history. What other ways can I gain funding?We Answered:
Whatever you do, don't reply to any of these bogus answers that offer you a loan on Yahoo answers! LOLIf you can, try to find an investor. Max out your credit cards (dumb idea, unless you would be able to pay them back in 6mos) get a cosigner for the loan who does have a good credit score and history.
Other than that, you would have to put it on the back burner while working and saving for your dream.
Julia Said:
How do i get a small business loan?We Answered:
If you are looking for your NAICS code, the code is 722410 for alcoholic bars. If you are in search of Small Business Loan, go in with Ammo. Make sure you have a well thought out business plan. It pays to have one professionally done, it shows the bank and or the SBA you are serious about your project.www.VanSwiss.com
Ray Said:
How do I obtain a small business loan ?We Answered:
I'll second "heyhey's" answer...the best option for you is to get more generous terms from your seller.Of course they would like to get as much cash up front as possible, but that may not work out for them. I would offer them 25% down TOPS (start lower...maybe 10%) an make them carry the rest. Among other things, this will ensure that the prior owners have a vested interest in your success.
Another consideration: How much are the hard assets of the company worth? You say you have no collateral, but that's not technically true. The assets of the company can act as collateral.
Good luck!