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About LinkBacksI am looking for tips on how to secure a business loan from BDC.
I have 10% deposit available, I just need to get the capital to do my business and have had no success finding a partner on the forums.
Senior Member
I am looking for tips on how to secure a business loan from BDC.
I have 10% deposit available, I just need to get the capital to do my business and have had no success finding a partner on the forums.
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Storm Enterprises LLC
Quality Computer Service & Repair in Calgary Alberta, Canada
http://www.stormenterprisesllc.com/
Senior Member
Well, for starters, you're going to need a minimum of 20%, probably more.
"The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics." Thomas Sowell
Senior Member
ok, so I need 20% down so for example, if i have $5000.00. I and wanted to get $25'000. That is possible?
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Storm Enterprises LLC
Quality Computer Service & Repair in Calgary Alberta, Canada
http://www.stormenterprisesllc.com/
Senior Member
You may need more than 20%, but figure a MINIMUM of that. The real estate lenders that I work with are barely lending 80/20 LTV on investment properties- and those are secured with collateral. Most want 25% down.
A small business loan, or personal loan, can disappear into the ether in a flash. So going the conventional lending route may prove very difficult.
"The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics." Thomas Sowell
Senior Member
I have been trying to find a person to person loan solution. But this is very hard.
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Storm Enterprises LLC
Quality Computer Service & Repair in Calgary Alberta, Canada
http://www.stormenterprisesllc.com/
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