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| *Loan,banking and credit>>>business loan |
Where can I get A small business start up loan of about $10,000 if I want to use the business as collateral? |
Where can I get A small business start up loan of about $10,000 if I want to use the business as collateral? By going to your bank and drawing up an SBA 7A low doc loan... Feds insure 1/2 up to 80% the loan if you default.... Just did a $630K SBA loan in the last 3 years... TRY CITI BANk ditech. they loan alot. Any bank should be willing to do it if you have a good business plan. You want to use a NON EXISTANT business as collateral to borrow money to start that business? Unclear on the concept of collateral, are we? You may not NEED collateral if you have a good, strong credit history. If you don't, then you WILL need to secure the loan with something more substantial, such as your house or other properites. If you have a good business plan , you can ask for a loan at Prosper, the ebay for loans. People may help you. More information at http://www.acreditlibrary.com/prosper.ht... Vince is right, it is unrealistic to think you are going to get a bank loan. IF your business plan is OUTSTANDING, you might be able to get a private investor to help out. But, what kind of business do you plan on starting with only $10,000? Undercapitalization is a LEADING cause of business failure. You really need to research your business better. I don't think you're prepared. |
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