I am seeking to begin my own tiny business. The commercial operation will be curchasing mechanism apparatus as well as reselling tools as well as refurbished products.
I have 3+ years experience, as well as about $20K of my own money, as well as great credit. I additionally own my home, though with the housing marketplace in the unemployment I might owe some-more upon it than it is value during the moment.
I would need an one more $50K-100K to begin up.
With the manage to buy the approach it is, what have been the chances I will get the kind of loan I need to get this commercial operation off the ground?
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Holy Cow! I hope you are not trusting the people that have responded so far. From what I see, if they don’t have their own domain and using email addresses as yahoo and gmail, stay away!
But as to your question, I am looking for the same thing… so hopefully someone good answers it!
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Have you tried local economic development groups with local government?
or the SBA?
Since you have experience, cash model of your own, and good credit history, I would say that your chances of getting a loan is up to the best start possible. The current economic situation is not good, but the banks are still going to give out loans, so your chances are quite good.
Only one thing left, a business plan. No matter how good your credit and experience, if you have a poor business plan, they aren’t going to risk it. They too want to make money, and the only way they can predict if your business will succeed is through your business plan.
Create one that impresses them and shows them that you are serious and that you are ready for whatever challanges might come.
I think that if you get your business plan right, you stand a very good chance of getting that loan, as long as the amount is reasonable with the business you are setting up that is
The source below gives you an idea of what a good business plan should consist of.
Start up business loans are difficult to come by. But the common sources of start up business loans are the 3 F’s, which are Friends, Family, and…. Fools. I can’t help you with the first two, but I have some ideas on the last one. Of course, these people are not really fools, but sane people who are more willing to take risks on start up business loans than traditional banks are. These are known as venture capitalists or angels.
Yes, you’re right about being concern about the economy. I’d say the best source for loans is still with the banks. Banks still offers lower interest as compared with loan agencies. Plus, they can help you restructure in case you get into problems.
Other helpful tips can be found here at http://frommoney.net
Best of luck!
you can see read article in http://mysecuredloan.co.cc for this I hope this will be resolving your problem.
I saw your question on how you need loan,have you contact standard loan firm? I got my loan from there three months ago with loan interest rate here is the email standard_loanfirm@live.com