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    2 Replies Latest reply on Oct 21, 2009 3:30 PM by TheSoloGuide

    small business loan...

    business9009 Newbie
      How do I get approved for a small business loan? My credit has not been established yet. However, I earn $3,500.00 weekly from a trust fund and am wanting a loan. About $50,000.00 is about how much I've totalled for all the business needs...
        • Re: small business loan...
          JasonTees Wayfarer
          Depending on what your personal debt obligations are, you could qualify just based on your trust income. Some lenders who are sticklers for the rules will want you take a personal loan (which, of course, carry higher interest rates). Or since you are pulling in $14K per month from your trust, perhaps you should take 5 months and just save the money yourself, and take that time to get your business plan together.

          Regards,
          Distressed Loan Advisors
          JasonTees.com
          • Re: small business loan...
            Tracker

            business9009:

             


            I recommend that you seek out a community member here that goes by the nickname "phanio" who has excellent advice for what you need to secure funds and sources for those funds.

             


            Typically, you will need a business plan. If you don't have a plan and aren't familiar with the format, I have a free page on my site to help you out. Here is the link:

             


            http://thesologuide.com/planning/

             


            Hope this helps.

             


            Doug Dolan

             

            The Solopreneur's Guide

             

            http://thesologuide.com/