phanio
483 posts since
Apr 7, 2009
7.
Re: start-up funding needed Jun 8, 2009 3:06 PM
in response to:
biz2009
There are a few options for you - some that depend on your credit and income (household income) and some that need to be matched to the purchase of the funds.
There are unsecured personal and business loans from non-bank lenders (thus no time in business requirements or other loops to jump through) that require good credit and incoem to service the monthly payments.
There are other non-bank lending sources that provide smaller amounts of unsecured capital usually between $25K to $50K - with less emphasis on credit and income.
If you are seeking equipment (any business equipment including office equipment) as part of your financing needs - then look for lenders that specialize in equipment loans.
When you do get to the point of a brick and mortar storefront - then seek out lenders that specailize in commercial mortgage loans. By finding a company that specializes - you will get easier approval, better rates and terms. Plus, most traditiaonl lenders will not work with start-ups or unprofitable businesses under two or three years in business. Lenders that specailize will work with you.
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