Business loan

[brnhtown]

I need some help getting a loan for a new business. Can anyone help?

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[Arrow-Tek]

Good luck! Most business loans are very hard to get for startup.

[Playa]

A lot of my customers are transferring their businesses to their wives to increase access to funding.

[Johnny Dangerr]

My accountant says he has given up trying to help folks...........

[AntlerCollector]

Shark tank maybe?

[brnhtown]

Shark tank maybe?

My next option lol

[brnhtown]

My accountant says he has given up trying to help folks...........

Why is this?

[RedBear78]

I did a home equity loan years ago when I went into business.I had great credit could go get a loan on anything with a stroke of a pen until I went to work for myself and checked the self employed box.After about 5 years in business then everyone wanted to loan me money so at that point I did my best to not borrow from any one it had hurt my feelings.Seems like it’s easy to get a loan when you don’t need it and hard to get one when you do need it.

[brnhtown]

I did a home equity loan years ago when I went into business.I had great credit could go get a loan on anything with a stroke of a pen until I went to work for myself and checked the self employed box.After about 5 years in business then everyone wanted to loan me money so at that point I did my best to not borrow from any one it had hurt my feelings.Seems like it’s easy to get a loan when you don’t need it and hard to get one when you do need it.

Very true, I dont understand the concept. With a new business loan they want 20 or 30% down with high interest rate. It makes it even harder for a business to succeed

[eradicator]

Why is this?

Because the world is against the little man and unless you are established it's getting tougher and tougher for individuals

[rtp]

Because the world is against the little man and unless you are established it's getting tougher and tougher for individuals

Certain individuals for sure. Others have a golden runway set up for them.

OP are you pledging assets to cover the loan amount or looking for an unsecured loan?


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[brnhtown]

Certain individuals for sure. Others have a golden runway set up for them.

OP are you pledging assets to cover the loan amount or looking for an unsecured loan?


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Unsecured loan

[JBJTX81]

Unsecured loan

That's hard. I had to pledge every penny of my life's savings and the equity in my rent house and my business's AR to get started.

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[brnhtown]

That's hard. I had to pledge every penny of my life's savings and the equity in my rent house and my business's AR to get started.

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I understand. The problem I'm having is not having enough years in business. I have the credit (700+) and secondary income. I can afford the loan

[JBJTX81]

Unsecured loan

Do you know any folks with money that could be a partner and help you get established? What sort of business are you trying to start? How much do you need? Do you have a written plan with pro formas?

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