Getting a Business Loan?

Question

I am opening my own small business. All I really need is the money for the licensing and registration, a laptop computer, a company cell phone, and random office supplies. I don't need a store, I'll be working from my home and at work. Should I try to get a small business loan? I don't have my own home or any property for collateral. Would I be better off if I just save up my money and stear clear of a loan?

Answer 1

Without money it is going to be hard to get going. Think of what you can pay each month if you took a loan out- and make sure you can pay it off! How much will you need? If you are looking for cash asap - try the link below. They are well known for being a good place to get a small loan from - and it never hurts to gather as much information as possible before going with a company. If you don't like that place try prosper.com - they are really good at funding small biz loans.

Good luck - I've been looking to start my own biz too - it is tough when you don't have lots of cash on hand!

Answer 2

Without collateral, you probably can't get a loan. But, you could get a credit card and purchase everything that way. If you have a checking account, you bank might provide a card with zero interest for 6 months.

Keep your costs down. Buy a used desktop computer. Forget the cell phone for now ... get an answering machine for you phone. Most phone companies offer unlimited long distance for $20-$30 per month. After you start making some money, then invest in more expensive stuff.

Answer 3

Loan

Answer 4

Depending on how fast you need the loan, try looking into getting a grant from the government. Grants are available for women who want to start their own business. Best of all they are basically free loans. If you do go the credit card route, I suggest getting a separate card to use for you business. This way you have a dedicated card for business use only and a paper trail to help you when filing taxes.

Answer 5

apply at www.myrerate.com/mydreamjob