i have a video/recording studio now and need to get a loan to help me get a building so that I can grow as a business. i have very little personal credit. I dont have a business account yet. What should I do 1st. Are there grants and gov. assistance to help new small business owners?
2007-09-22 04:52:16 · 5 answers · asked by Mastermine 1 in Business & Finance ➔ Small Business
Write out a formal business plan on a sheet of paper, in plain English, explaining how your business is going to make money, how it is going to make it, and how much you expect it to make. Then list the cost of the "tools" you need to make this plan work, and how much you expect them to make.
If you have a sound & realistic plan, any bank will happily lend you money. If a bank looks at your plan and declines to lend you money, rethink your plan...
Best wishes!
2007-09-22 05:01:45 · answer #1 · answered by Anonymous · 1⤊ 0⤋
If you do not have a bad credit getting business loans are easy. It is generally seen that bad credit acts as an obstacle in the smooth running of a business. Are you also facing the same problem? No need to worry, as bad credit business loan is here to solve all your problemsbusiness dealings is bad credit business loans. You can maintain your perfect credit score as long as you pay off your installments in time. This credit score improvement can enable you to avail any future loan with better terms and conditions.
2007-09-23 06:57:23 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Hi,
You can go for a business loan from private lenders. Though interest may be bit higher, you will get the loan sanctioned quickly. You can visit http://www.webmoneymanager.info for some useful tips and info on obtaining a business loan. Good luck!
2007-09-22 05:11:04 · answer #3 · answered by Anonymous · 0⤊ 0⤋
First , you need to set up a solid business plan with documentation and numbers from homework ,
Showing a demand for your product and how likely it is for you to be profitable .
Show them the numbers .
Loans are about business which is based on sales .
Numbers talk , dreams alone are wishy washy .
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2007-09-22 05:03:33 · answer #4 · answered by kate 7 · 0⤊ 0⤋
How much are you going to need? If it's less than $25K, check out prosper.com, a peer-to-peer lending site.
2007-09-22 05:30:36 · answer #5 · answered by alex 2 · 1⤊ 0⤋