how do business loans work?
Posted by admin on 31 Oct 2009 1:03 pm. Filed under Small Business.
jnbill1204
I am looking to get a business off the ground. I have all of the equipment but need money for advertising. I would like to ask for 50K. My question is that I have projected that I will need at least 3-5 months to turn actually make enough money to pay for the loan. This is the time needed to let advertising kick in and get some jobs.
I am looking to get a business off the ground. I have all of the equipment but need money for advertising. I would like to ask for 50K. My question is that I have projected that I will need at least 3-5 months to turn actually make enough money to pay for the loan. This is the time needed to let advertising kick in and get some jobs.
are there loans that can be deffered for 6 months to get me off the ground or do I need to do venture capital and provate funding?
2 Comments to “how do business loans work?”
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On November 1st, 2009 at 10:27 am
Business loans are the hardest of all to get. it helps to have a D&B number (Dunn and Bradstreet) but since you are not even in business yet, it won’t help you. tough question my friend!
I have some good info that will help you here
Good luck to you!
On November 2nd, 2009 at 9:45 am
A small business loan is one of the most treasured commodities in the business world. It is still very hard to get despite the claims and promises of banks, credit unions, and other lending institutions that they want to help American smallsuppliers and vendors. The main reason that the banks use for not granting many loans during this period is like the same reason that a student can’t get a job coming out of school. They don’t have the experience.