What is the easiest Business Loan to get (to start up a business)?
xmelax35 asked:
What is the easiest Business Loan to get to start up a business? Need either names or links, please. Oh it is for a small business or less than 4 employees, but a business that will do well in profits.
What is the easiest Business Loan to get to start up a business? Need either names or links, please. Oh it is for a small business or less than 4 employees, but a business that will do well in profits.
Thank you.
Oh and it is not a matter of bad credit. It is just who has the cash laying around to buy a business? Ya, know…even rich people get loans. I am not rich, but I hate it when people assume when asking for a loan a person has bad credit!
February 27, 2008
• Tags: Business Start, Loans, Profits, Small Business, Start Business • Posted in: Small Business
One Response to “What is the easiest Business Loan to get (to start up a business)?”
The easiest business loan to get is what some banks call “small business lines of credit” through credit cards. Those are easier to get and can be based on your credit history alone. They typically are up to $100,000.
For example, Wachovia’s has various business lines of credits,,446_612_1399,00.html Their business line of credit can even be approved overnight.
Otherwise, if it’s a business loan, it takes time (2 weeks the fastest; make it 2 months or so if you want the SBA loan guarantee) and will be based on various factors:
- business plan
- management experience
- collateral
- equity investment
- business financial history, if any
- personal credit history of the principals