Small Business Loan
By Ladycwells
@Ladycwells (96)
United States
October 2, 2012 5:42pm CST
I just began my own business. I am excited about it. However, I am trying to get initial capital and I am unsure where to begin. Does anyone know anything about small business loans? I googled it and my brain froze with all the legal terms. I can get through the murk, but not today. Does anyone have experience with getting a small business loan.
1 person likes this
5 responses
@Ladycwells (96)
• United States
5 Oct 12
I think I will try this. I haven't even set up my business account yet. So much still to do...phew! I was a bit surprised to find my credit is not quite as bad as I assumed so maybe I'll have good luck with a traditional business loan.
1 person likes this
@sishy7 (27167)
• Australia
5 Oct 12
Yeah, there are many non-bank finance companies here which offer short-term business loans as well as small personal loans. But some of them charge outrageously high interest rate. I came across one which has like 48%pa interest rate plus there are all kinds of fees and charges on top of that!
@walking2010 (1009)
• United States
10 Oct 12
You know what? I am glad that you started a discussion like this because, I am trying to start a small business myself, so I know what you mean. By you starting this discussion it helps me out, so that I can get some good resources as well, thanks for starting this discussion.
@adnileb (5276)
• Philippines
3 Oct 12
I have tried that here in our office. I offered them 6% interest for a month, payable twice (each cut-off period). It really depends on your terms and where you will do the business. There are terms I used like there should be a guarantor for big amounts and they will have their ATM cards pawned.
Hope you succeed on your business. Big things come from small beginnings. Just be patient and take care because you're dealing with money. That's a good business if you will handle it the good way.
@magnificent (41)
• Beijing, China
9 Oct 12
Sometime I received some emails about loan message.But I do not like in debt.
@ARIES1973 (11426)
• Legaspi, Philippines
3 Oct 12
Hi Ladycwells! In our country, we have an agency that helps the new entrepreneurs by lending them initial capital and additional trainings. They would just have to submit some required documents. I can also see some sites online that is offering loans to individuals but I never tried it before.
