Who has the lowest rates and easy approval? I need to consolidate my business card purchases asap. Credit history is not too much of a problem, however line of credit is important.
2006-10-04 17:22:48 · 7 answers · asked by Sommer 1 in Business & Finance ➔ Small Business
Your friends & family will give you the best rates, but you will lose your friends & be on non-speaking terms w/ family members if you go that route.
2006-10-04 17:26:12 · answer #1 · answered by Anonymous · 3⤊ 0⤋
The business of lending is a dense one and should be researched properly. To get started, I suggest contacting the Small Business Administration (SBA). Entrepreneur also offers a great site dedicated to money & finance – see below for both.
Research, research, research – this cannot be stressed enough. Read as much as you can about the process. Here are some book titles that are relevant:
* How to Get a Small Business Loan: A Banker Shows You Exactly What to Do to Get a Loan (Small Business Series, No 1) by Bryan E. Milling
* The SBA Loan Book: Get A Small Business Loan--even With Poor Credit, Weak Collateral, And No Experience by Charles H. Green
* The Insider's Guide to Small Business Loans by Dan M. Koehler
There are plenty of free informational resources out there. Check the source box for links to articles.
Hope that helps! I wish you much success & happiness in all your ventures!
2006-10-05 04:32:13 · answer #2 · answered by TM Express™ 7 · 0⤊ 0⤋
actually I've found that if you take the loan out with the bank that you currently are with and let them take about half of the money that you earn, you should be able to pay it off at a lower rate than what was initially said on your plan, another words pay more on your principle and your interest goes down with it.
2006-10-04 17:47:50 · answer #3 · answered by John K 2 · 0⤊ 0⤋
I was thinking one of 2 great sources. Either the um now this is a long shot here iwellllllllllllll um perhaps yes it has come to me . The BANK! or try asking your parents
2006-10-04 17:24:24 · answer #4 · answered by Anonymous · 0⤊ 1⤋
I would try your bank. Also search the internet. It's full of companies waiting............no salivating........to give someone a loan.
2006-10-04 17:36:05 · answer #5 · answered by msjuliet2005 4 · 0⤊ 0⤋
You can try looking at your local sba (small business admin.)agency. try going to www.sba.gov and try to look for information there.
2006-10-04 17:55:58 · answer #6 · answered by Anonymous · 0⤊ 0⤋
wells fargo
2006-10-04 17:30:18 · answer #7 · answered by pattycake 3 · 0⤊ 0⤋