i am looking for an unsecured small business loan for about $10K for a period of 60-75 days. ideas?

Question

i have long term funding available after the 1st of the year for this project. this is for a "bridge" until that time. no real estate loans on this deal at all. so that option is out. my personal credit is not available at this time. business credit cards are "gas cards only" at this time (again until after the 1st of the year).

i live in nevada. my business is based in las vegas.

Answer 1

Have you looked into a micro credit program? It is a cooperative system that usually takes some amount of time (several months) before you'll be approved, during which you are required to be involved in the process of approving loans for other small business owners, but they offer loans smaller than most banks are willing to offer at reasonable rates of interest.

I'm from New Hampshire, where there is an established micro credit program (www.microcreditNH.com) that has helped many small businesses I know of... I'm sure there is one in your area if you look. Also try www.microcreditsummit.org

Answer 2

Unfortunately, despite the stimulus programs, getting a trade mortgage isn't effortless – in particular with the difficult financial system. More so together with your quandary that you simply rarely have any credit score and most likely little resources. Banks desire to peer: - verified potential of the trade to generate sales -- corporations which might be already working and feature a minimum of two years' valued at of fiscal statements that show robust profitability. Business recommendations are simply recommendations; now not tested to generate earnings. Banks additionally don't frequently lend to startups - potential to pay off the mortgage via collaterals and resources. They ought to see that they may be able to get whatever again from you within the occasion that the trade is going bust and also you can not pay off the mortgage - cast leadership group: they desire to grasp that the trade will likely be run by way of anybody who is aware of what they're doing - first-class credit score historical past - your funding within the trade: they desire to peer that you simply think in your online business sufficient to place down your possess cash into the trade If you have got the above, then get ready a marketing strategy. - The marketing strategy is NOT the very first thing banks desire to peer. It's most important, however banks will ought to see your potential to pay off the mortgage. Sometimes, they may not even hassle to learn your marketing strategy in the event that they recognise you have no cash. If you must have a marketing strategy, you want a well government abstract (as that's what they are without doubt learn, if in any respect) PLUS cast, sensible fiscal projections/plans

Answer 3

What type of business is this?

Answer 4

http://www.entrepreneur.com/startingabusiness/gettingfinancing/index115674.html