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1404, Tell us more. You went out to plenty of banks trying to get a loan for an existing business,
and they turned you down. WHY??
When a bank turns you down they should give you a reason, Also the trick is not to go to"plenty of banks".
Be selective. Bank computers talk to other bank computers and they do NOT like PLENTY.
A well written "request for money" can help you with the key points you need to address before you approach a lender for a loan. Take a look at my blog posting on this subject (http://marshall-showmethemoney.blogspot.com/2006/12/what-will-banker-ask-me.html) and feel free to contact me if you need any assistance.
Just remember, the bank wants to know just one thing - how you're going to repay the loan. You should be able to show them three sources of repayment - cash flow of the business, assets of the business and personal assets of the owner.
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I wrote a message before and i got a lot of good and positive feedback, i went out to plenty of banks trying to get a loan for an existing business, and they turned me down because i dont have any assets for a fraction of the amount that i am asking (700K), i need help and tips in how to get a loan of that amount. Please help.