How do you start a small business and get a loan to get started?

Question

I want to start a Machine Shop complete with welding and fabrication, all I get online are scams that want your money and do nothing for you. I need a reliable source for a loan. My plan is to take people that cant afford to go to school to learn this trade and teach them for one year doing real work for other companies. The cost for each persons training would be free and they would be paid for learning by the work each person does. What this means is each person would get a percentage of the price of each part he or she made. Help me help those that need help.

Answer 1

www. prosper.com or [e-mail]

Answer 2

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!

Answer 3

sounds good honey maybe u need an investor / partner
taxes r too high ,bankruptcy is rife, to start with owing on a loan and risking so much, theres too many good people like u gone under cos others and taxes take unfair advantage
have u thought about writing a book, u need plenty of money first or
have u tried www.freedomrocks.com/8101
or www.yourpaysite.com/?
ive also heard about a legalised form of letter where a report is exchanged for 5 bucks, i honestly believe this is the only way the average person can get out of the poverty rut
lotsa luv for ur good intentions honey

Answer 4

Very few people start a small business from a bank (11 percent of all businesses). You best bet is to start writing a business plan and get initial funding from family and friends.

From what you are proposing, it seems like you are trying to start a non-profit. I would become involved with similar organizations. Estabilishing a good network of people who are interested in helping the same people would be a good start at accomplishing your goals.

Answer 5

http://www.sba.gov/

It's the Small Business Administration's web site. They can give you all the info you need...