If I wanted to get a loan for say 40k for a small business what would be a good business?

Question

Also where would i try for a low interest Loan?

Answer 1

I think you are going about this backwards. First, you decide what business you want to create. What is interesting enough to keep you working on it for months before you see any profit? What do you like to do so well that you'd do it even if there were no profit? Because you have to love it enough to make it succeed before you can justify the loan.

As to where to go, the first place is the Small Business Administration web site. They have a program of guaranteeing bank loans for small businesses. Then go to the smallest, most local, most grass roots bank or credit union or saving and loan in the area, as they are the ones most likely to be knowledgeable about the SBA program, and the most tolerant of the paperwork involved. That is, they are the most hungry.

Answer 2

Anything in IT or health products.

There you go : http://index-go.com/finance-loans-mortgage.asp

Good luck !