need financing for an existing tax franchise i want to buy.
2006-06-30 01:42:06 · 3 answers · asked by davisoben 1 in Business & Finance ➔ Small Business
The financing of a business is much different from that of a home.
A financial outlet will look at your business plan, how your business will pay back the loan, how your business will generate revenue, what your business experience is, if you have any collateral, etc.
Your personel credit will actually be secondary. Do not get me wrong - it will still count against you, but will not be a death sentence either.
Your best bet is a SBA loan.
2006-06-30 04:54:05 · answer #1 · answered by gm1957 3 · 0⤊ 0⤋
It all depends on what your looking for ie: Mortgage,auto loan, personal loan with no calateral?
Do you know your credit score because you should.
before applying all over the place pull your credit. If there are false items on there then heve them removed. If your score is less then 620 you may have a hard time with a personal loan. Just about anyone can get approved for a home loan just ask how many points they will charge you. Auto loans are easy anyone can get one even if you just filled for bankruptcy don't let some schmuck tell you it's going to be hard they just want to give you a high interest rate and charge you as much as they can.
For personal loans what ever you do stay away from cashcall.com the amount of Interest they charge should be illigal.
if you have more questions call me 516 810 3297
2006-06-30 09:19:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I found some articles that may point you in the right direction -- see below.
I suggest contacting the Small Business Administration (SBA). Entrepreneur also offers a great site dedicated to money & finance – see below for both.
Hope that helps! I wish you much success & happiness in all your ventures!
2006-06-30 09:57:08 · answer #3 · answered by TM Express™ 7 · 0⤊ 0⤋