ForumsFinancing Tips

Tell us more. How long have you been in business??. What happens to your present practice??
Are you an individual,?? Corporation?? Do you have an Accountant and prior year tax returns??
What type of loan are you looking for?? Have you spoken to your banker??
I know I am asking lots of questions, BUT the more you share with the small business web site
and myself, the better we can answer your questions and help you succeed.
Good luck, LUCKIEST

Dr. Shaffer,

You are a loan many banks would be really willing to give. Most banks offer programs for clients like you (professional services) they are likely to offer you a complete package that includes loans, credit lines, checking accounts, etc.

Two things I think you need to be prepared to answer - business case and business plan, why is your new location needed? and how and when will you start generating money. As long as you can prove that your business will be able to pay back the loan (stay in business long enough to do so then you'll be fine)

Also a bank is going to want you to have some sort of financial stake in the business, usually 10 to 20% of your own money.

I don't think anyone on the board is going to be able to answer what type of loan you need unless we know how much money you think you need. My suggestion is to start with the bank you have your checking accounts with. I would not let them pull credit info right away, just talk about what you need, what they offer and what you need to provide them to get the loan you want.

Good luck!