2007-05-30 19:53:49 · 7 answers · asked by stayhomemom 2 in Business & Finance ➔ Small Business
You willl need a good amount of capital in collateral to cover
the cost of that loan. So that if you falter in payments, they
can take those things you've listed as collateral to cover
that loan. Like a house, or an expensive car or two, etc.
My suggestion, is that you place a want ad asking for an
investor to go into business with you. You supply the work and
brains, and they supply the money to set you up in business.
There are many people out there just getting started in the
investment business who start out small and want some
small businesses to invest in. The paybacks are small, but
they are usually consistant for them to show a track record.
Like people who open a chain fast food or restaurant.
They look for an investor to help get them set up and they
are expected to carry the business relationship to make it
profitable for both parties.
2007-05-30 20:11:29 · answer #1 · answered by Lynn 7 · 0⤊ 0⤋
Well, i guess it depends if isn't the greatest means isn't the greatest, or if it means I-couldn't-get-much-lower-than-this. If it is the former, just market yourself. Draw up a business plan and go to every bank you can find and try to convince them it will be successful. The credit score will be a hindrance, but not as much as if it were for a personal loan. If its the latter...just forget it. Scrounge 10,000 out of your savings. Hell, sell your car if you really believe you have a good idea. Still try the banks, but your chances will be lower.
Edit: I would believe that Mister Cobbs is what would be known as a predatory lender. Ignore him, that 5 percent rate will ballon after the first month
2007-05-30 20:00:00 · answer #2 · answered by Drew Kristjansson 2 · 1⤊ 0⤋
No interest, no company, no investment, no collateral, no theory relating to the present state of banks and lenders = no own loan – not even $a million,000. you're dreaming except you have an theory for an employer that doesn't require any money up front. an option could be to come returned up with an theory that somebody else could desire to apply to finance a company and start up getting money. variety a partnership and artwork at the same time or attempt and sell the assumption to them.
2016-10-30 07:38:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Consider a SBA loan, it takes a lot of paperwork, but it sounds like this maybe your best option, unless you have family and friends that are willing to invest in your business.
2007-05-30 19:59:56 · answer #4 · answered by oldcorps1947 6 · 1⤊ 0⤋
Try finding someone to co-sign the loan for you.
2007-05-31 03:36:05 · answer #5 · answered by jdkilp 7 · 1⤊ 0⤋
www.prosper.com - this is not a conventional loan, but many people are using it to get the funding they need. Check it out.
2007-05-30 20:12:49 · answer #6 · answered by danielss429 4 · 0⤊ 0⤋
please dont worry about the money .u can earn money without any deposit.....do online business and earn more and more money if u wanna do that please click on this link http://www.moneycosmos.com/?r=296239.............
2007-05-30 20:26:15 · answer #7 · answered by Anonymous · 0⤊ 2⤋