what are the qualifications for obtaining a business loan?

0 ⤊

what are the qualifications for obtaining a business loan?

2006-09-03 04:13:30 · 2 answers · asked by mrs understood 1 in Education & Reference ➔ Primary & Secondary Education

2 answers

Generally, the biggest qualification for a business loan is that you don't need it. Then banks are happy to loan you money...

In all seriousness, this is the Catch-22. You want to convince them that while you'd LIKE the loan in order to purchase equipment/expand operations or whatever, that you're not in dire financial straits.

2006-09-03 04:19:04 · answer #1 · answered by C-Man 7 · 0⤊ 0⤋

the only qualification you ought to get is a viable business plan.

2006-09-03 04:19:29 · answer #2 · answered by Anonymous · 0⤊ 0⤋