How would I go about getting a loan to develop an idea I have for an invention?

Answer 1

go see a the loan officer at your bank . . that's what my husband did and the officer told him what he needed and after compiling everthing he was able to get the loan from our bank . .

Answer 2

If you have an invention that you think will revolutionize the world, you do not necessarily need a lot of cash to get it developed.

Most inventors nowadays do not actually go out and build the invention, but rather sell the idea to a company and allow them to develop it.

The problem is not inventing the item, it's retaining the rights to the item and preventing people from simply copying your idea. That is where a patent comes in.

You may want to try and obtain a patent for your idea and protect it against being stolen from you. But be prepared to have to fight for the patent rights in court, blocking companies from making the same thing in a mass market and cheaper.

My suggestion is that if you are trying to invent a new product because it will help make the world better, just go ahead and share the idea. If you are trying to gte rich off it, I would suggest selling the idea to a company for a share of the royalties.

Answer 3

step one would be to patent that thing first, this way you leave yourself with a couple options.

1) you could apply for a personal loan, now depending on your age, credit history, assets, this may allow you to get up to around $25000. A personal loan is just that so you can take it out and do whatever you want with it.
2) you could get a home equity loan assuming you own a house, this would allow you to borrow against your homes value and this way support your idea.
3) where the patent comes in...you may be able to get private investors to invest in your idea, however this would be a tricky and dangerous road... if your idea is good enough you very well may have people figuring alternative ways to duplicate your design and in effect stealing your idea. A good patent may allow you to avoid this by giving you rights to the design.

Answer 4

inventions come a dime a dozen and to secure funding in anything calls for person financial contributions. meaning if you want a financail institution to believe in your product you first should inject some meaningfull capitol into it. once they would have seen your capitol injection most firms or investors may take a chance at it .but sometime not everyone believes in your dream and you have to follow them yourself.

Answer 5

try a small business loan

Answer 6

You should get the free invention kit at http://snurl.com/invention

Hope this helps.