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Posted: 4/30/2001 3:16:33 AM EST
If someone wanted to start a small business what would be the best place to get a small busines loan at?
Link Posted: 4/30/2001 3:50:31 AM EST
They always shoot me down when I tell them killing's my business, and business is good.
Link Posted: 4/30/2001 4:04:58 AM EST
If you're talking 'small business' as in 'Small Business Administration' (SBA) loans, there's a group of folks out there who do nothing but set up SBA loans. They're usually ex-SBA amployees, but they do know the ropes! You can usually find them in the small classifieds in the business section of your local newspaper. Probably find 'em on the Internet, too. Thing is, they will find the lender for you - so it may be some financial institution in another city or state. Check it out. Eric The Hun
Link Posted: 4/30/2001 4:08:38 AM EST
There are lots of low to no interest loans at local level. Check with a local or reginal business or economic development office. Sometimes these are included with a Chamber of Commerce. Might also consider a SCORE (Service Corps Of Retired Execs) chapter to assist you.
Link Posted: 4/30/2001 5:15:33 AM EST
John, give some thought to the SBA program. As a caveat - they can take some time to get set up. From what I have seen, the seem to take between 4-6 months from start to finish. One tip for you - find an SBA "approved" lender in your area. This is someone that the government has already given the nod to to make decisions about who gets a loan (providing it meets that program guidelines) in your area. The government will then rubber stamp that person's approval. Contact your local banking institutions. You will not find a mortgage broker that has this status. Make prove that they have approved status. This will save you lots of time. Also if you qualify there may be some form of a grant available to you. good luck.
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