Are banks giving startup business loans ..?

Discussion in 'Starting a Business' started by williamjames732, Apr 10, 2013.

  1. williamjames732

    williamjames732
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    Hello,


    I want to know are banks gives start-up business loans for businesses. If yes then What are the conditions to get quick business loans.

    All replies are appreciable!!


    Thanks
     
    • Like Like x 1
  2. Hannah80

    Hannah80
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    I think it completely depends on the Bank you are with. There are Banks that will give start-up business loans however they have precautions with regards to lending money to small businesses. Banks do not want to give out loans that may have unwarranted risk, which is understandable. They will however supply loans to companies that can prove they are already successful and profitable, (which seems strange that they would need a loan) with a good credit score and a long track record in business. It depends on the category that you fall into. There are alternatives to Banks, with companies who are willing to supply small business loans to first time companies. Most importantly the conditions to getting a quick business loan will be a credit check. The bank will want to do this to ensure that you will be able to repay the loan back, so to avoid any legal actions.
     
  3. Rocky

    Rocky
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    Your sig is good to place to start looking.
     
  4. williamjames732

    williamjames732
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    Thank you guys for your replies!!!

    I follow all instructions as you mention.
     
  5. clydefreeman

    clydefreeman
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    Our quick business loans provide instant loans. To apply for quick business loans you should qualify some conditions. You should have a valid bank account and you have the capacity to pay your borrow loans.
     
  6. policybazaar9

    policybazaar9
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  7. VenomSevers

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    Your best bet would be to talk this about your bank, because it depends what bank you are with, some will accept under certain requirements.
     
  8. upendra

    upendra
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  9. scottbaird

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    There are many banks who gives startup business loans but conditions to get quick loans are apply according to every bank criteria.
     
  10. AnushaJain

    AnushaJain
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    Business loans are available,but we have to give them something as security,so that they are satisfied before giving the loans.
     
  11. rajkanwar321

    rajkanwar321
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    Well if you have a business idea why don’t you approach a bank that can bring your business ideas to life? I own a small garment business. I approach reliance commercial bank for SME loan and luckily I got it. They have higher loan eligibility with an easy repayment option by way of simple convenient EMIs. Why don’t you give them a try? I promise you won’t regret it.
     
  12. Mens

    Mens
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    Yes banks provides business loan but they take mortgage some property of yours.

     
  13. Changed Creation

    Changed Creation
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    Hi Williamjames732
    I will answer your post from a perspective you do not wish to hear. I generally would not advise anybody to take out a loan. Not borrow money and definitely not leverage on the security of your home! If you are a business beginner, meaning this business is not at least your 10th business, I will not advice you to enter into such kind of risks. The statistics of small business failure are just too big. Not even my mentor with all his business success does it. There is a lie that is perpetuated by the current system that says the greater the risk, the higher the growth. This is not true, and in business, even less so. So what do you do when you want to start a business, have a really good opportunity and all the signs say go ahead? Well you simply make a way! You start small, with something else that you can manage and set the money you make aside. And you keep on going until you find a way of starting without taking any risk other than loose what you have made out of your surplus. You also need to think out of the box to figure out a way to start the business so that it costs you nothing other than using your surplus time or current skills after hours. We generally are too lazy and stuck in our mindsets to develop this skill, but you won't believe the incredible growth this seemingly impossible idea will be for you if you focus on finding an answer. Banks and other financial institutions are really just money lending because it is big business for them and comes at an incredible high cost to you. I will assist you in brainstorming this if you send me a Pm.
     
  14. SmallBizAdviser

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    You can get a bank loan for your start-up business, but you would need a strong credit history and substantial cash flow. You'll probably need to provide detailed financial information, a business plan and collateral when applying, as well.

    There are other options if you don't think bank loans are right. Examples are business credit cards, lines of credit, loans from family/friends, grants and other alternative funding sources.
     
  15. Aptassist

    Aptassist
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    Ya you can get the start up business loans from banks. But conditions i don't know exactly.
     
  16. gobigandstayhome

    gobigandstayhome
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    they are, but you have to give a hell of a performance in selling yourself to them, along with showing them that it was worth the investment afterwards.
     
  17. candrew

    candrew
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    Banks always see some criteria of your startup business so it may be a risk while taking loan from the bank. There is some other ways for taking loan like merchant cash advance. If you are a small business owner and want to do short term investment then it is the best loan type for you. Apart from that you can take personal loan or loan from your friends and family. Good luck !
     
  18. marriott

    marriott
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    In present days i think their are very less percentage of business are running without taking loan form banks and banks are giving many facilities for business loans you can easily search about these facilities by taking help of search engines.
     

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