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  #16  
Old 02-04-2011, 12:05 PM
ralphegermain ralphegermain is offline
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Default Re: Small Business Loans

If I am to start my own small business, is there a ceiling on the amount I may apply for?
When you say high credit you mean like...? And yes I believe that creating a good relationship is essential not only because you wanted to get a loan but it helps to the success of the business too.
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  #17  
Old 02-12-2011, 02:55 PM
steven steven is offline
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Default Re: Small Business Loans

I have a deal in process for a client that had an 800 fico and he'll receive about 150k in start up money. no collateral

it can be done, but you still need the 3 ingredients.... credit, collateral, ability to repay. and if you have less of one or two, the 3rd better be pretty outstanding
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  #18  
Old 02-28-2011, 11:44 AM
ibliskopet ibliskopet is offline
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Default Re: Small Business Loans

Quote:
Originally Posted by thefinancemann View Post
What kind of credit score is necessary to get a small business loan? Is it even possible in this economy.
of course you can, we must be able in all economic situations
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  #19  
Old 02-28-2011, 02:02 PM
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RichS RichS is offline
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Default Re: Small Business Loans

Make sure you have an effectively written business and marketing plan before you talk to any lending institutions. If you get turned down by several of them get them to tell you why in writing and then go to the SBA, Small Business Administration.

RichS CFP(r)
www.insimplelanguage.com
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  #20  
Old 03-16-2011, 10:42 PM
CloptonCapital CloptonCapital is offline
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Default Re: Small Business Loans

It depends what type of loan. Mezzanine loans are available at just about any credit level and bridge loans in many cases it just isn't that big of a concern since they are backed by the borrowers collateral. Yes, it is very possible to get business financing now.
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  #21  
Old 04-30-2011, 10:55 PM
nonbankableloans nonbankableloans is offline
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Smile Re: Small Business Loans

Quote:
Originally Posted by thefinancemann View Post
What kind of credit score is necessary to get a small business loan? Is it even possible in this economy.

In my experience as an Asset Based Lender for the past 10+ years, Small businesses can access business loans with credit scores in the 500's and 600's. The idea is using your accounts receivables as the collateral to generate the cash businesses need to meet their on going cash flow requirements (i.e. purchase inventory, pay payroll, service debt etc). Of course, with everything there are certain requirements to qualify for this type of financing, but it is a way for a business to get the funding they need to grow their business. The idea is to focus on the collateral (Accounts Receivables and other assets), instead of focusing on the debt to equity ratio's or profitability, etc.

In my days as a lender, I've funded sales growths, turnarounds, tax delinquencies, starts up (assuming they have a/r) and more.

Now I'm helping small businesses get the financing they need by helping them find the right ABL lenders at no charge to the business.

Hopefully that helps.

nonbankableloans.com
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  #22  
Old 05-04-2011, 03:58 PM
MegaMagma39 MegaMagma39 is offline
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Default Re: Small Business Loans

Quote:
Originally Posted by David Morson View Post
Honestly speaking, I would suggest you to not to take any loan on interest for small business as I have seen many businesses sinking due to such loans and I advise you to rely completely on your own equity. This is the best and safest way to run any business. Always remember "Slow and steady wins the race".
I have to agree with David here...it's a very unsure economy right now, and to get locked into a loan could end up being the straw that breaks the camel's back.
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  #23  
Old 05-25-2011, 09:20 PM
michelle2011 michelle2011 is offline
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Default Re: Small Business Loans

Have you searched for a financial partner to back you with some money? It may me easier to find a investor than to get a loan. Good Luck!
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  #24  
Old 05-25-2011, 09:52 PM
timy timy is offline
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Default Re: Small Business Loans

very helpful
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  #25  
Old 05-25-2011, 10:17 PM
timy timy is offline
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Default Re: Small Business Loans

Quote:
Originally Posted by Wystan View Post
Its better you have higher credit and a good relationship with the bank.
i totally agree
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  #26  
Old 06-02-2011, 05:21 AM
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pink_briefcase pink_briefcase is offline
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Thumbs up Re: Small Business Loans

Hi thefinanceman,

I would suggest for you not to take any loans because this isn't how it's supposed to be. Why don't you start up a small business that would not require you taking any loans. If you wanna start up big it would be one financial investment that you have to be always wary of all aspects of this kind of business. Anything frustrating or disappointing may affect the marketing facet of your business from location to interiors. I suggest you do extensive research. Ask around. Internet is one good reference to get you started.
Hope it helps.

Keep on keeping on...
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  #27  
Old 06-08-2011, 07:35 AM
chris_m_uk09 chris_m_uk09 is offline
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Default Re: Small Business Loans

the higher the better obviously but if u have good relation with the manager then ull get it easily
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  #28  
Old 10-05-2011, 06:57 AM
MoiraJohn MoiraJohn is offline
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Default Re: Small Business Loans

Hello

The government has programs to help Small business.so if you do some research perhaps there could be funding.
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  #29  
Old 10-25-2011, 02:38 PM
michael36 michael36 is offline
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Default Re: Small Business Loans

Whether your business is expanding, with growing pains, or simply needs some working capital to grow, Express Funding Group is here for you. Our loans do not require collateral. No need to risk your assets. You can also rest easy knowing that our business loans will not be displayed on your personal credit. This is essential for the small business, as this may affect other funding opportunities that you may want to obtain.

Let's look more aggressive lenders in the industry today. We have expert consultants who will guide you through this process every step of the way. Let us do the hard work for you so you can focus on what you do best .... Operating your business!

An alternative to small business loans
If your company does not qualify for a traditional small business loan, Express Funding Group has a very popular alternative. Business cash advances have helped thousands of business owners get financing they need to grow.

Express Funding Group Business Cash Advance is the best solution when traditional loans are short. Small businesses face challenges in obtaining money at critical moments, when the additional funds that open new revenue streams or help recover the lost. We will work together to overcome common problems and find ways to achieve mutual success by identifying and meeting their needs for capital resources.

Your business needs capital, and traditionally filled with SBA loans they need. Whether the acquisition of new equipment or inventory, new marketing efforts or sales drives - even for funding day-to-day operations during a fall, financing Express Group business cash advance can provide the money your company needs to thrive. Express Funding Group Solution your company receives the money you need without all the problems associated with traditional loans.


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  #30  
Old 11-07-2011, 11:35 AM
dmers dmers is offline
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Default Re: Small Business Loans

Credit may not matter as much as collateral, experience, income, etc. If the loan makes sense, there are sources of capital available.
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