Post a new topic
    0 Replies Latest reply on Feb 26, 2009 3:44 PM by Paxtonent

    What is best loan for my small business?

    Paxtonent Newbie
      Last year my small business was taken for over $25,000 from someone using stolen credit cards. The signs were there (in hindsight) but as a very young business I was eager to make money. My claim to the insurance company was denied and no lawyer will tkae the case on contingency. Seeing the legal costs would amount to over 10K I can't see throwing good money after bad so I am forced to just take the loss.
      This has severly effected me being on top of my payables and have fallen behind with my main vendor who is now requiring all past due payments to be made prior to any more shipments being made to my business.
      My question is what type of loan should I pursue? I noticed on the SBA websites news release there was over $255 million in the new stimulus bill to help small businesses meet existing debt payments. Does anyone know what type of loan this is and if it would be the right one to to go after?