How to secure small business loans..?

Discussion in 'Growing and Managing a Business' started by williamjames732, Apr 9, 2013.

  1. marriott

    marriott
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    Its a great topic for discussion and i want to thanks for sharing this topic as this would be very beneficial to me in near future when i have to secure a loan.
     
  2. daniel.stock2013

    daniel.stock2013
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    6 steps how to secure small business loans?

    1. Prepare a business plan.
    2. Know what type of capital you will need.
    3. Establish a strong relationship with the bank lending the money in order to improve the possibility of getting the loan approved.
    4. To meet its present requirements, the new small businesses need to show a good credit history.
    5. Show your age.
    6. Submit your own cash flow projections for the next 2 years, thereby proving that they will be able to meet the loan payments.
     
  3. MitchVicknair

    MitchVicknair
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    Please maintain you budget and don't take the debts.
     
  4. stashfin

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    Consulting a best business person will help you lot. You can also visit a nearby bank.
     
  5. VITS USA

    VITS USA
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    Top 5 Things to Consider before Getting a Personal Loan - Interest Rates, Penalty Charges, Credit History, Hunt for the best deal and Need or greed?
     
  6. RickHarley

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    Take credit for yourself and buy the big company or business. Like example my score is 809. Experian cites as reasons for this: no missed payments, low credit usage (I have several credit cards that I never use), long credit history, recent credit card use. I have no mortgage or car loans (but have had both in the past), or any other kind of debt. I try to put everything on my credit card and I pay the balance in full each month. My friends advice me https://www.boostcredit101.com/
     
    #26 RickHarley, Jul 4, 2019
    Last edited: Jul 12, 2019
  7. stashfin

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    No matter you are a small business or a mid-size organization looking for funding to further expand your business; NBFCs in India will take care of all your capital requirements. Companies personal loan for business funding is aimed towards helping you expand your current business venture within current competitive economic environment. So, whether you need funds to purchase new machinery or a customized personal loan for your media and advertising needs; NBFCs will get you covered.

    Benefits of Business Loan:
    • Increase your business cash flow
    • Lease bigger office premises
    • Renovate your office
    • Purchase, lease or repair machinery and equipment
    • Upgrade to the latest technology
    • Stock up on inventory
    • Hire seasonal employees
    • Purchase raw material for bulk orders
    • Expand to another area or city
    • Scale up operations and take on bigger projects and much more
     
  8. overcast

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    The thing people are forgetting here while commenting is that there is always some sort of collateral that people have to do in business loan.
     

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