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8 answers

Check with the banks in your area. Some banks extend what they call "small business lines of credit" often through credit cards. Those are easier to get and can be based on business credit only. They typically are up to $100,000.

For example, Wachovia's has various business lines of credits http://www.wachovia.com/small_biz/page/0,,446_612_1399,00.html

However, if you're applying for a loan and if it is a big amount, banks and even the SBA may consider other factors aside from your business credit:

- A business plan explaining what the business is

- Your background and experience in the business -- in my experience, this is KEY in the eyes of the bank because they want to make sure that you know what you are doing and that you can make the business work. If you don't have any experience with the business, have someone on board that knows the business to give banks assurance that someone will guide you

- Your credit factors because it shows your dependability and how well you handle credit. They will do a credit check on you and poor credit history may be frowned upon, or even reason for the disapproval of your loan application

- Your collateral. Banks, even SBA guaranteed loans, want the borrower to show collateral. They want to be guaranteed that somewhere somehow they can get payment from you

- Condition or terms of loans. Banks would want to know three important things: "How much money are you requesting? What will it be used for? and For how long will it be needed?" Banks oftentimes prefer to approve loans for items that can be identified, has lasting value, and can be repossessed and sold if things fail.

2006-10-21 15:21:38 · answer #1 · answered by imisidro 7 · 0 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!

2006-10-18 08:45:22 · answer #2 · answered by TM Express™ 7 · 1 0

Try the Small Business Administrator for answers

2006-10-18 07:21:33 · answer #3 · answered by jboatright57 5 · 0 0

no longer sufficient information for me which could help you. yet i visit furnish you with some concepts that would want to help. You did not say what franchise, that makes it demanding to envision the problem. Secondly, the quantity of the franchise fee. in the journey that they offred you a franchise, and they seem to be a huge corp. they could amplify credit to you for the fee. there are truly some "ifs" right here, and that i want extra information. you received't get a co-signer on a business enterprise loan until eventually the signer/co-signer are into it mutually. you'll also want a business enterprise plan before you even be conscious for a franchise or ask for credit. you've plenty to do before you would possibly want to do something. also, verify out the SBA, as they have very solid suggestion which could help you.

2016-12-04 23:22:04 · answer #4 · answered by ? 4 · 0 0

well,it depends on where you are.there are websites that you can visit wherever you are.if you're in my country , phils.i can recommend one investor for you,but if not,you can still search it on line.i believe it would be better if you can visit a realiable website.i'm sure yahoo has it too.

2006-10-18 07:19:32 · answer #5 · answered by faith 2 · 0 0

Try an investor.

2006-10-18 07:14:30 · answer #6 · answered by Anonymous · 0 0

sweet heart, have u ever heard of a bank??

2006-10-18 07:14:41 · answer #7 · answered by Ray 2 · 0 0

i nuno either

2006-10-18 07:14:27 · answer #8 · answered by Anonymous · 0 0

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