Where can I get a loan to start a small business with?

+1 vote
asked Feb 25, 2018 in Other-Finance by Shaney (360 points)
Where can I get a loan to start a small business with?

1 Answer

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answered Feb 25, 2018 by Adf289 (62,710 points)
I would first check with any local banks you have around and if you have good credit then you should have no problem getting approved for the business loan.

Have a solid business plan put into place and have it written out as to when you can expect a profit from the business.

If you have all these details and bring them with you to the bank then it will be easier to get the small business loan.

Most other loan companies that deal in small business loans will require you to be in business for at least a year and be making some sort of revenue.

If you're just starting the business and haven't been in business at all yet then you might need a personal loan or even try raising the money online.

But usually you can get started on a small business by taking out a large enough personal loan and then using it to fund the business you plan to start up.

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