Business loan?

JEazy · Jul 10, 2006

I recently heard about people getting business loans to get there business started and i was wondering how i should go about getting one or if anybody has information they could share with me about them. thanks.

-justin

Alison · Jul 10, 2006

Three words. Small Business Administration.

bethany138 · Jul 10, 2006

Yep. Write a business plan 1st. Another route - for lower end stuff - I only needed $5000 to upgrade my equipment, etc... and I was able to get a signature loan from a local credit union. Interest is high... but they can't repo my equipment...lol.

JEazy · Jul 10, 2006

ha sorry but, could you guys go into more detail? i'm pretty sure i would only need around $5000...

bethany138 · Jul 10, 2006

Do you have a credit union in your town? In order to borrow money from one you have to be a member (go talk to them). Banks are another option possibly. A signature loan is where there is no collateral - only credit. I had to have my dad cosign with me because my credit rating is not high enough. 5000 is their limit. Go talk to a bank or something in your area for their specifics.

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