read_connect(); //$GLOBALS[ezoic_db]->read->query("use 17things"); ?>

How can I get a small business loan? I have good credit but little cash or assetts?

I am looking into buying a small business just outside of Denver, Colorado but I have no idea where to start as far as getting a loan. I have good credit but would only be able to come up with $2,000 -$3,000 up front cash. As far as assetts, I have virtually nothing. Is a business loan even an option in this situation? I need a loan for about $230,000. The business I am looking into buying is well established and very lucrative would this factor into the loan situation?

Related Items

5 Responses to “How can I get a small business loan? I have good credit but little cash or assetts?”

  1. Feeling Mutual said :

    Go to a bank and apply for a loan.

  2. imisidro said :

    The truth is that it is difficult for a startup business to borrow money as a small business loan — especially without assets and without experience in the business.

    However, if you’re applying for a loan and if it is a big amount, banks and even the Small Business Administration may consider the following factors:

    – A business plan explaining what the business is

    – Your background and experience in the business — in my experience, this is KEY in the eyes of the bank because they want to make sure that you know what you are doing and that you can make the business work. If you don’t have any experience with the business, have someone on board that knows the business to give banks assurance that someone will guide you

    – Your credit factors because it shows your dependability and how well you handle credit. They will do a credit check on you and poor credit history may be frowned upon, or even reason for the disapproval of your loan application

    – Your collateral. Banks, even SBA guaranteed loans, want the borrower to show collateral. They want to be guaranteed that somewhere somehow they can get payment from you

    – Condition or terms of loans. Banks would want to know three important things: “How much money are you requesting? What will it be used for? and For how long will it be needed?” Banks oftentimes prefer to approve loans for items that can be identified, has lasting value, and can be repossessed and sold if things fail.

    You have a very tight situation when you only have very little money and no assets. However, I suggest you talk to your local Small Business Development Center. They may be able to give you lists of banks and financial institutions in your area who may be able to give you a loan — even if it’s not a full amount. Who knows, one of the smaller local banks would be willing to take a risk on you.

    Here is an interactive map of Colorado — click on your location to find the nearest SBDC and ask for their help on how you can get the financing you need

  3. Mr Solomon Elliot said :

    This is to Notify you that Mr Solomon Elliot is Currently offering Loan to the
    needy at a low rate 0f 3% if you are interested contact [email protected]
    Your Name _____________________
    Your Address:____________________
    Your Country:____________________
    Your Occupation:__________________
    Loan Amount Needed:______________
    Loan Duration:____________________
    Monthly Income:__________________
    Cell phone Number:________________

    Mr Solomon Elliot

  4. Robert Payne said :

    Our Ref: SC286832
    (Private Loans from Private Investors)

    Dear Borrowers’, Is the bank giving you a difficult time regarding
    your financial situation? Robert Payne Loan House is a successful
    private money lenders/investor that will personally help you out with
    its personal cash flow. Robert Payne Loan House lends individuals
    money against their home equity, business loan, personal loan, student
    loan, etc.

    Robert Payne Loan House loans up to 75% CLTV (combined loan to value)
    on the property. The company will do what the BANKS WON’T DO…which
    is treating you like a human and not a number…what a concept!
    Traditional banks are only looking at the bottom line – they punch and
    crunch the numbers and POOOF! What the computer numbers dictate, it
    decides whether you stay afloat or drown.

    Sure they’ll make excuses and may even try to make a penalty deal
    which eventually still overwhelms the current situation. The only
    other option is BANKRUPTCY! Well, the company has a LIFE BOAT for your
    business or personal needs that negates the BANKRUPTCY option. Do you
    care to swim or sink? If not, email me @[email protected]
    and we can get together and discuss this further.

    Nevertheless, the company will also use its money to help you out of
    debt if you are behind on your mortgage. The company will provide
    funds to take over your mortgage so you no longer have a monthly debt
    and you can walk away from the house payment that was creating such a
    burden in your life.

    The company will assist you in repairing your credit and removing the
    mortgage rates, so you can get a fresh start again. You could give me
    a call through any of the numbers above, if your mortgage is going to
    adjust hundred’s or thousand’s monthly and you don’t know what to do
    next, then call now.

    Most foreclosures that have already occurred could have been prevented
    if stopped soon enough to find out there options. Whether you are in
    foreclosure or worried you could be affected by your mortgage
    adjusting and as a result losing your home because of rising payments,
    then act fast and give us a call.

    We have helped people in various areas and location with the same
    situation. Nevertheless, We also specialize in unsecured business
    lines of credit by matching your credit profile with your business
    history with our network of lending sources.
    Stated Income
    No Collateral
    No Tax Returns
    No Financial Statements
    1 day application and less than 2 week funding.

    ROBERT PAYNE LOAN HOUSE can be structured to fit just about any
    situation. So if you have a special need, questions, or concerns, the
    company will do its best to help you out.

    In the meantime here are some general guidelines:
    • Minimum loan amount: $1,000.00USD
    • Maximum loan amount: $100,000,000.00 USD
    • Loan Period: Can be from 30 Days up to Thirty years.
    • Payments: INTEREST ONLY, with the balance due at the end of the loan period.

    It will take 3 working days to process your loan from the date you
    apply and you have the loan fund.

    • Areas the company can work with: United States of America (All 50
    STATES), Mexico, Canada, China, New Zealand, Ireland, Austria,
    Australia, Germany, Spain & the United Kingdom etc.

    Thank you and have a profitable day

  5. International Womens Day said :

    I’ve been surfing online more than 3 hours today, yet I by no means discovered any interesting article like yours. It is lovely value sufficient for me. In my opinion, if all webmasters and bloggers made good content as you did, the internet will likely be a lot more useful than ever before.


[newtagclound int=0]


Recent Comments

Recent Posts