How do I go about applying for a small business loan? April 30, 2010
Posted by Credit in : Small Business , add a comment
MLRatyahoo asked:
-I’m 22 yrs old.
-I’m 22 yrs old.
***Am I too young to be approved for a business loan?
-I am about $4000 in debt (from medical bills only) but I have small monthly payment plans that I’m keeping up with.
***If you can prove that you are paying your debts off and that they are only medical related—can you still be approved for a small business loan?
***What is the minimum amount they usually give for a small business loan? What is the usual amount?
***When applying for one, do you apply in person, or on paper? Do you have a chance to show your business plans to the bank? Because I want them to know how profitable it will be, and how quickly I’d be able to pay the loan back.
Basically what I’m asking in all of this is:
Is applying for a small business loan very black and white, or does it all depend on if they trust that your business, specifically, will be successful enough to pay back the loan?
***********Also: Any tips?
What’s a good first credit card to get to start establishing business credit? April 9, 2010
Posted by Credit in : Small Business , 3comments
LJ’s Back! asked:
I recently started an LLC and would like to start establishing my business credit. What are some good first credit cards to get that will help me establish my business credit? Most I’ve seen want my personal credit as a co-signer for my business, but I would prefer to stay away from that. I mean, what was the point of forming an LLC if my personal credit was going to be taken into account for everything, right?
I recently started an LLC and would like to start establishing my business credit. What are some good first credit cards to get that will help me establish my business credit? Most I’ve seen want my personal credit as a co-signer for my business, but I would prefer to stay away from that. I mean, what was the point of forming an LLC if my personal credit was going to be taken into account for everything, right?
What business credit cards are not attached to my personal credit? March 31, 2010
Posted by Credit in : Small Business , 6comments
Erick R asked:
Hello, I am trying to find out how to build my business credit without being attached to my personal credit score. I would like to know if anybody has information regarding what credit cards are available to do this. I would love any free information or links to sites that can tell me how to build my business credit. Thanks!!
Hello, I am trying to find out how to build my business credit without being attached to my personal credit score. I would like to know if anybody has information regarding what credit cards are available to do this. I would love any free information or links to sites that can tell me how to build my business credit. Thanks!!
How do I loan money from the bank to open a small business? March 30, 2010
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crazygirl asked:
I want to open a little fashion retail store that cost about $100,000. What is the requirements I need to have so that the bank can loan me the money. What documents and information will they need from me for this loan?
I want to open a little fashion retail store that cost about $100,000. What is the requirements I need to have so that the bank can loan me the money. What documents and information will they need from me for this loan?
How do I write a loan proposal for the bank to obtain a loan to open up a coffee shop? March 15, 2010
Posted by Credit in : Small Business , add a comment
born2win413 asked:
My friend is paying me to write her a loan proposal to the bank so that she can get the loan to open up her coffee shop. I need help on where to begin or can someone point me to a sample copy? Thanks.
My friend is paying me to write her a loan proposal to the bank so that she can get the loan to open up her coffee shop. I need help on where to begin or can someone point me to a sample copy? Thanks.
What kind of Credit Card processor should i use to accept credit cards at an arts and crafts fair? February 18, 2010
Posted by Credit in : Small Business , 3comments
Teartin asked:
I’m going to have a booth at an arts and crafts fair. I’m not sure how to accept credit cards. do i have to go with the manual cordless credit card machine or are there more options. thanks
How do i get the wireless equipment free?
I’m going to have a booth at an arts and crafts fair. I’m not sure how to accept credit cards. do i have to go with the manual cordless credit card machine or are there more options. thanks
How do i get the wireless equipment free?
How can I get a small business loan? I have good credit but little cash or assetts? February 17, 2010
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Chrissy B asked:
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?
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?
How can I start a small Credit Card Company? February 15, 2010
Posted by Credit in : Small Business , add a comment
saborguerito asked:
I am curious to know how much start up money would be needed to start a small Credit Card Company. I am interested in extending credit with Secured Credit Cards with low limits for individuals looking to establish or re-establish credit by a secured credit card. Also I have thought about prepaid debit cards for those in chexsystems and cannot get conventional checking accounts.
I am curious to know how much start up money would be needed to start a small Credit Card Company. I am interested in extending credit with Secured Credit Cards with low limits for individuals looking to establish or re-establish credit by a secured credit card. Also I have thought about prepaid debit cards for those in chexsystems and cannot get conventional checking accounts.
Any help?
What I mean is not to broker, but to be able to start a very small company directly.
What is the difference between a start-up loan and a small business loan? January 31, 2010
Posted by Credit in : Small Business , 1 comment so far
inspection338 asked:
I need to take at least a $250,000 loan to start up a flight school as a small business and I am not sure which type of loan I should be looking for. Help please.
I need to take at least a $250,000 loan to start up a flight school as a small business and I am not sure which type of loan I should be looking for. Help please.
Is a credit card number really valid for a deposit on a service? January 28, 2010
Posted by Credit in : Small Business , 2comments
JNate asked:
I own a small business which often takes credit card numbers over the phone as a deposit. We recently had a customer no show, and she contested through her credit card company when we charged her (she claims it wasn’t explained when she gave us her #). The credit card company took her side and said it is policy to allow anyone contesting to get their money back if there is no signature. How can this be? So many hotels and services take card #’s as deposits!
I own a small business which often takes credit card numbers over the phone as a deposit. We recently had a customer no show, and she contested through her credit card company when we charged her (she claims it wasn’t explained when she gave us her #). The credit card company took her side and said it is policy to allow anyone contesting to get their money back if there is no signature. How can this be? So many hotels and services take card #’s as deposits!