Advice on how to get business loans?

Author	Message
Written on: 02.11.2009 [10:13]
Higgins Higgins Topic creator Posts: 4	Does anyone have any advice for a novice borrower on how to get business loans? I'm starting up a small business selling greetings cards and sewn handicrafts and I'd like to borrow the start-up capital.
Written on: 04.11.2009 [16:32]
Kamil Kamil Posts: 4	A lot of different lenders offer business loans. I organised one for my own small business through my bank, and the rep gave me a golden nugget of advice! Never organise personal loans for your business! If you put your home or livelihood at risk for your company and it doesn't make money, you could lose everything you've got. If you've been a loyal customer somewhere for a year or two, ask their advice and ask for information on their products. Some lenders offer business loans specifically aimed at start-up companies!
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Written on: 13.11.2009 [16:01]
Emily Emily Posts: 3	You'll need to draw up an excellent business plan. You need to make them see that their investment is worth the risk and make them think in terms of profit. Research is the key. Look online at different business plans and make sure that its perfect he first time you show them as you wont usually get another chance.