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 Tips for getting small business startup loans (5 Replies, Read 336 times)
shylock
Posted on # February 15, 2010, 4:11 am
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Hi

Here are some steps you can take to improve your chances of getting a small business startup loan:

    * Establish trust. The first thing you'll want to do is try to establish a relationship with the lender sitting across from you. The more they know you as a person, the more they'll trust you. And when it comes to asking for a small business startup loan, nothing is more important than trust.
    * Refine the startup business plan. Make sure your business plan is optimistic, but don't sugarcoat potential problems or risk. Be thorough about your plans for the future, address contingencies, and talk about the qualifications of your management team. The business plan is one of the primary documents that lenders use to gauge the stability and future of your small business and it is essential in securing a small business startup loan.
    * Paying pay you small business startup loan. A main concern lenders will have about small business startup loan is how you are going to pay them back. One step beyond that is how you are going to pay them back if your numbers fall short of your projections. Addressing both of these issues thoroughly can help put their mind at ease.

Keep sharing and reading
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Tips for getting small business startup loans
jhonrambo47
Posted on # March 11, 2010, 9:39 am | Post: 1
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Hi i am jhon rambo.
  1. Find micro enterprise development programs in your state at the Association for Enterprise Opportunity. The AEO will help lead to local programs that support small
    businesses
     that need initial small business start up loans of $35,000 and under with five or less employees. Along with capital for small business start up loans, they may also offer business training, technical assistance, technical training and access to markets. The website is micro enterprise works.org                            
  2.                                 Step 2                                                                 If you live in Nebraska, you can also go to the Nebraska Enterprise Fund at nebbiz.org                            
  3.                                 Step 3                                                                 Find small business start up loans through the Small Business Administration (SBA). Many incorrect rumors have been started about supposed funds handed out by the SBA, but there are legitimate financing programs through them. Go to sba.gov, click "services," then "SBA loans," then "micro loans," then scroll to "SBA microloan intermediaries"                            
  4.                                 Step 4                                                                 For those seeking small business start up loans related to garden businesses, urban agriculture, small or micro farming, or rural small businesses check with your local agriculture extension agent to see if there are unpublicized loans or grants for business programs in your area. For example, in New York, select people with rural land were given grants to start hospitality small businesses on their property related to agritourism. Money was given to upgrade buildings and parking. Go to csrees.usda.gov/extension to find the cooperative extension in your area.
Thanks.


Edited by jhonrambo47 : March 11, 2010, 9:39 am

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Tips for getting small business startup loans
Lisabrandon
Posted on # March 12, 2010, 6:43 am | Post: 2
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The first place to start if you are considering a small business loan is sba.gov. The Small Business Administration offers resources for new entrepreneurs, including information about start up loans and financing. Once you have a basis of knowledge, you are ready to move on to considering your financing needs in more detail.

Make a business plan. This is a critical step, and no one will offer you small business financing without a plan. Consult entrepreneur.com for assistance with your business plan. Find out what legal steps are necessary to protect your home and assets when starting up your business and taking out small business loans. You should also secure any licenses or paperwork required. If bonding is necessary for your business, be aware that the Small Business Administration offers a bonding assistance program.

If you are starting a very small business, your start up costs may be quite low. Consider asking a family member or friend to invest in your new business, if you are comfortable doing so. A microloan of this nature can allow you to start your new business with less effort and stress. Be sure to create a loan agreement in writing, complete with terms in case your business does not succeed. Avoid these sorts of personal start up loans if you need a substantial sum.

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Tips for getting small business startup loans
neil47
Posted on # March 29, 2010, 7:21 am | Post: 3
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Hi

Finding start up funding for a new business is not as difficult a hurdle as it may seem. Despite tougher economic times, there are several ways to go about finding the finance necessary to successfully launch a small business.
Small Business Loans

Many lenders will approve loans up to $30,000 based on personal credit. The lender concerned may still want to see a business plan and hold the small business owner concerned personally responsible for repayments. Having a good credit score and minimal debt will increase the chances of getting a small business loan approved.

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Tips for getting small business startup loans
avena34
Posted on # April 29, 2010, 9:43 am | Post: 4
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Hi

Here I'm also adding Some More Important Points With You:
1. Choose the right size small business startup loan. Avoid asking for more or less money than you need. You shouldn’t write your business plan to justify the amount you want – instead, use your business plan to determine how much you need.
2. Find the right small business startup loan lender. Some lenders focus on small business startup loans – these are your best chance for success if you fit the mold. If they’re familiar with your industry, all the better.

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Tips for getting small business startup loans
edwin34
Posted on # June 2, 2010, 11:22 am | Post: 5
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Post Group: Working Newbie
Posts: 78
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Hi


Tips & Warnings

    *
      This article is not giving legal or financial advice, the author is not an attorney or a financial professional. Author disclaims liability and offers article for educational purposes only. Parents are responsible for any activities involving their children. Author's articles are registered with the national copyright office and protected with Copyscape

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