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1 Replies Last post: May 14, 2009 6:12 PM by phanio

Trying to start up a LAN Center

May 13, 2009 10:00 PM

Click to view revallan's profile Start-up revallan 1 posts since
May 13, 2009
My partner and I are in the process of starting up a LAN Center (basically a computer video arcade). We have completed our business plan and started shopping it around to local banks, but aren't having much luck getting responses. Would it be prudent to start contacting larger banks who don't have branches in our area or are local banks going to be our best bet? We are trying to stay with banks who actively promote that they will do SBA loans, but at least one has commented that they won't do an SBA loan unless the application meets their normal standards; is this a typical attitude or is this a case of one banks philosophy on lending?
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Click to view phanio's profile Mogul phanio 483 posts since
Apr 7, 2009
1. Re: Trying to start up a LAN Center May 14, 2009 6:55 PM
This is not only typcial but the one real problem with SBA loans. Don't give up - the SBA is revamping their programs and should make it more enticing for banks to pick up their SBA lending.

Some national banks think SBA are not worth their time. Some have departments that handle these types of loan and just push you off to them. Some local and regional banks do SBA loans and some don't. It is really just hit and miss.

I suggest you call every single bank (national, regional, local) that you can find and ask. You can also find a local Small Business Development Center (SBDC) and ask if they know who is doing SBA loans in your area.

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