Business loan

[danamer]

Hello Guys.

If anyone knows :
Is it difficult to get a 7a business loan for a start up business?
What do i need for it?
Business plan? Any down payment?
Please if anyone had an experience with it share the knowledge.


Thank you .

[JKansas]

Yes.
Your soul.
Very detailed. around 25%.

That should answer your questions. In my experience: If you are a female, minority, veteran, or... the crown jewell female minority veteran... Then it is very possible. You will have a ton of paperwork, projections, and business plan. They will want a down payment or some form of collateral etc. Inventory counts for this as long as you can show value usually. If you are a brand new business the requirements are even more stringent than an existing business.

Check out your local SBA, Small business development center, or Economic development district for more info and couseling. They can tell you about the local environment and what programs are available. Not trying to discourage you, just telling you from our experience.

[veikoh]

It depends where you are... in Spain, I didn't had any problem to accept my business plan by bank and if I would have had 10-15% self financing then they would have financed rest.