What it really takes to apply for and secure a small business loan

Discussion in 'Chit Chat' started by dealmaker, Jun 26, 2018.

  1. dealmaker

    dealmaker

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  2. dealmaker

    dealmaker

  3. dealmaker

    dealmaker

  4. &&
    Plenty of sb , deal maker,do not need [need ]a bank loan , ,service types. Plenty of them want a loan to waste money- like on a new auto.......A bank is a good place for savings or cash a check for free.:cool::cool:
     
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  5. I would advise anyone who is looking for an SBA type loan to get some assisatance as the paperwork is extensive and like all government documents, one little mistake and they'll kick it back. Back in 1989 when I started my first "legit" business I had the good folks at Governors State Universty help me.
    https://www.wbdc.org/entrepreneuria...ness-development-government-state-university/
    I would suspect every state has similar help at a university. Don't know what it is now but a SBA backed loan used to require that the borrower put of 30% of the projected money needed for start up. Say your business plan calls for 100K start up, you'll need 30K and the bank you're using, backed by the SBA, will loan the other 70K. One other thing is to have your projections as reality based as possible, backed up with factual data. Too much blue sky with nothing more than hey, it's a great idea, and you'll walk away empty handed.
     
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  6. dealmaker

    dealmaker

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    dealmaker

  8. dealmaker

    dealmaker

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    dealmaker

  10. dealmaker

    dealmaker

    #10     Mar 20, 2019