What is the loan based on? I need to purchase a flatbed truck, and so I will be using it on equipment only. Please help! Thanks!
2007-02-26 09:16:51 · 3 answers · asked by epicsupastar 2 in Business & Finance ➔ Small Business
Most loans are based on how much your business is currently doing, and since you are just starting out your loan will also be based on your credit history (especially if you are a sole proprietor). Make sure you have your business plans, EINs/TINs, permit/licence ready when you are hunting for loans!
2007-02-26 09:23:27 · answer #1 · answered by Shalltell 3 · 0⤊ 0⤋
In addition to the advice on having your business plan and personal financial statement, you need to consider your partners, if any. Any co-owner with a 20% or greater interest will also have to have a personal financial statement on file. I suggest you visit the Small Business Administration Web site as a starting place. The site is not as intuitive as it used to be but it's still navigable.
2007-02-26 09:29:06 · answer #2 · answered by SA Writer 6 · 0⤊ 0⤋
Why don"t you approach a private lender?I got my loan from a certain agency i met here in yahoo answers.Their interest rate of 0.2% is simply great..Why don"t you try there?
You can contact them with their email,richards_loan_agency@yahoo.com.
2007-02-27 02:31:05 · answer #3 · answered by Susan F 2 · 0⤊ 0⤋
depending on how your credits is, if you have had a income for 2 years, yep we can help.
2007-02-26 09:20:32 · answer #4 · answered by spiritwalker 6 · 0⤊ 0⤋