do you have to have a lot of money to get a bank loan?i want to start a retal bussiness and im guessing it will take about 50,000 to start it . how hard is it to get a loan.
2006-10-22 14:17:07 · 4 answers · asked by allenshaunna 2 in Business & Finance ➔ Other - Business & Finance
depemds on what you have for collateral.
2006-10-22 14:25:24 · answer #1 · answered by larryclay2006 3 · 0⤊ 0⤋
Getting a loan for a startup business is quite easy if you go about it the right way, plus startup business costs can be deducted against future cap gains (tx tip). The trick is to show the bank up front that the business will be successful. Contract a professional business broker or the likes to assist you in obtaining a Formal Business Plan. A proper one should survey the area you plan to place the business, industry and market analysis, Strength/Weaknesses/Opportunities/Threats (SWOT) anaysis and so on. Then you take this to loan director and present. It will be in the bag, plus you will know up front, the chances of your business being a success. Good luck, hope this helps.
2006-10-22 21:35:30 · answer #2 · answered by burnemwill 3 · 0⤊ 0⤋
You need to consider speaking with the local Businessmans (womans) organization! There are many business folk who can lead you in the proper direction. Some may even be willing to invest in your idea if it is good enough.
Either way, they can help a lot!
Good Luck with your idea!
The Ol' Sasquatch Ã
2006-10-22 21:37:25 · answer #3 · answered by Ol' Sasquatch 5 · 0⤊ 0⤋
You may try the internet. Minimum expenses maximum exposure.
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2006-10-23 05:05:25 · answer #4 · answered by Anonymous · 0⤊ 0⤋