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That i totaly agree about that and that i am in the process of getting all that information completed right now so that i can summite it to a bank

Any bank is definitely going to want to know what you will put up for collateral against the loan. If you don't want any of your personal assets to be cosidered, there might be some banks that will accept pledges or guarantees from a 3rd party. The perception out there is that loans are casually given out by a personal banker in a branch trying to make a quota based on a really, really great idea, the way a person looks, credit history, a family name or reputation, etc. but everyone is equally treated fairly and in reality, all the applications have to go through a very strict process to ensure the business is valid and ethical with background checks and and they are analayzed by an expert financial analyst to see if it is credit-worthy and then it is written up further and if passes the number-test, it has to get credit approval based on the amount and risk. You can say there is a lot of red tape and it is not up to one person but a whole team. You always have to keep in mind that the shareholders of the bank won't allow money to be given out with a lot of risk. The less risk involved to pay back the loan the better the rating of the loan and the quicker it can get approved. The industry of your intended business also has a lot to do with whether or not a bank will loan you money. Some industries are considered solid and others are too risky. Good Luck with your idea and getting financial backing. If business were so easy.....everyone would be doing it!

i wish i could help, i do know that you will need more money than you think.borrow more than you need

I have a question. If you are starting a Franchise and the Frachisor is SBA approved, do they still look at your personal credit when you apply for a business loan?

Have you considered a business line of credit? If you have good credit you can apply for a BLOC & get funding that way. If that is the route you choose to go with, I may be able to assist you with funding. My company acquires BLOC's with a credit score of 700+. Funding ranges from $25k to $1M and we can usually close within 1 - 3 weeks (with proper documentation).

If your credit is not great, we can also assist with credit restoration.

Reply to the post if you are interested and I will forward further details to you.