Question about business loan
How do I go about applying for a small business loan?
-I'm 22 yrs old.
***Am I too young to be approved for a business loan?
-I am about $4000 in debt (from medical bills only) but I have small monthly payment plans that I'm keeping up with.
***If you can prove that you are paying your debts off and that they are only medical related—can you still be approved for a small business loan?
***What is the minimum amount they usually give for a small business loan? What is the usual amount?
***When applying for one, do you apply in person, or on paper? Do you have a chance to show your business plans to the bank? Because I want them to know how profitable it will be, and how quickly I'd be able to pay the loan back.
Basically what I'm asking in all of this is:
Is applying for a small business loan very black and white, or does it all depend on if they trust that your business, specifically, will be successful enough to pay back the loan?
***********Also: Any tips?
Among these loans, some loans satisfy your personal financial needs and some help you to come out of your business financial problems. The loans, that offer you financial help to start a new business or to expand your business are known as loans. These loans can be taken not only to start or expand the business but also to purchase furniture or machinery to improve your business. Compared to the other financial sources that pro Continue reading this entry »