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    3 Replies Latest reply on Feb 16, 2009 7:14 PM by NoBullFunding

    Loan logistics for start-up Company

    flawlessjm1 Newbie
      I am starting a micro-brewery in the state of Massachusetts and need approx. $150,000 for start up costs. The majority of this money will be put towards equiptment purchases, rent/lease of commercial space, and licensing. The space we are looking to aquire is an existing food/restaraunt business with proven monthly income and a built-in client base. The company will consiste of myself and 2 partners. We have good credit, but minimal assets and $$ to show for upfront.
      Questions:
      1) How realistic is it, in todays economic environment, to expect to be given an SBA loan of this size?
      2) What is the minimum the bank would require us to contribute of our own capital?
      3) Is it necessary for us to incorporate the business before applying for a loan?