Bussiness Loans

[averagejoe!]

Does anyone know about getting govermental loans is it hard to get those versus Regular Bussiness Loans. I am looking to by a bussiness. And need to jump on it.

[JLeezer]

I'm not sure exactly what your asking, so I'll answer you in the different ways I'm interpreting it.

If by governmental loans, you mean an SBA loan, it shouldn't be too difficult as long as you have some amount of collateral or equity, a decent credit score, and a very solid business plan with accurate historical and future financial statements.

If by governmental loans you really mean a grant from the government, unless the business is in a few very specific industries or you are in some specific minority, you'll probably have some difficulty getting a grant.

More info would be great though.

[RLorenzen]

What kind of business are you trying to buy? As Jon said a governmental grant isn't easy to get unless you are in a couple particular industries.

[averagejoe!]

its a Canoe and Kayak Bussiness, So i doubt i would get any assistance. I ment to say the SBA loan.

[jasaunders]

Depends on the amount. You could typically get an SBA Express loan in as a little as a few days.

[rogercbryan]

How much money are you looking for? While the SBA is a good route it is not always the best route. If you do not need all that much money you may be better off going to a bank.

When it comes to grants you will have a better chance if you are a minority of some sort.