Are small business loans available to everyone?
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jeremiah
Apprentice
Joined: 16 Nov 2006
Posts: 2
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 Posted: 09/22/09 - 06:51 Post subject: |
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| I am thinking of setting up a small business. As I don't have any money, I would need to fall back on a loan in order to achieve this. I know that there are plenty of small business loans offered by all banks, but the problem is that I don't have a mortgage. Or is that seen independently? Are small business loans available to everyone? |
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stacee
Apprentice
Joined: 16 Mar 2006
Posts: 6
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| Posted: 10/22/09 - 03:43 Post subject: |
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| If you come to the bank armed with a sound business plan and you convince them of the viability of your idea, then the business loan will be made available to you. While some banks make it easier for those willing to put their private equity behind the loan, I am very much against this in any case. The business plan itself has to be enough to convince them that their money is safe with you. |
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