It seems that most of the places one turns to for business financing from different investment sources, there' s a minimum
of 100K anyone is willing to invest.
How can a small business of 1-2 individuals, that presently has under $20,000 per year revenue get a investment loan-preferably angel investment for under $50,000?
And for art-specialized business (art gallery, art studio, supplies sales, etc....)--in Bothell, WA?
2007-09-07 10:37:49 · 4 answers · asked by paul c 1 in Business & Finance ➔ Small Business
About 40% of all capital employed in the U.S. small business is bootstrapping (credit cards, home equity loans, loans against whole life insurance policies, etc.) If you have two individuals and you need under $50,000, you can definitely pull it off with bootstrapping.
2007-09-07 11:01:27 · answer #1 · answered by NC 7 · 1⤊ 1⤋
This loan allows you to start a small business. The department of Small Business Administration (SBA) acts as a guarantor for these loans. These loans are provided by banks or financial institutions. Very rarely, the SBA provides the loan directly.
Along with the SBA, certain other government agencies provide financing to small businesses through loans and grants. To avail of this loan, you have to submit the business plan that you have chalked out along with your abilities to indicate that you can handle the business properly. Your credit score should be high to get the loan. The lending authorities check your credit ratings before approving your loan.
2007-09-07 17:38:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Small business loan are a great financial help for small business owners. Without monetary support, a business, whether it is big or small, can not be run smoothly. With a small business loan, financing in small business is always possible. Can a borrower with bad credit score apply for a small business loan? Yes, they can. With thevarious purposes with a bad credit small business loan. With this loan, they can start a new business, they can expand their present business, they can purchase some necessary equipment, they can buy a new office premises, and they can repair their present office. Even more, they can use a bad credit small business loan as business capital as well.
2007-09-07 15:38:39 · answer #3 · answered by fashion d 1 · 0⤊ 0⤋
The Small Business Asministration has all the information you will ned in order to apply for a Small Business Loan.
You can find them at :http://www.sba.gov/services/financialassistance/index.html
Best of Luck
2007-09-07 11:25:29 · answer #4 · answered by sosezshe 4 · 0⤊ 0⤋