Welcome to the Small Business Ideas Forum! We are a community of over 100,000 small business folks with over 163,000 posts for you to browse. We pride ourselves on being the friendliest forum you will find and we'd love to have you as a member of our community. Please take a moment and register for a free account. If you need any help, please contact Chris Logan.

Small Business Ideas Forum

Small Business Ideas Forum

A friendly place to share small business ideas and knowledge, ask questions, find help and encourage others that are involved in the small business industry. Topics include small business marketing, generating revenue and small business computing.

Go Back   Small Business Ideas Forum > Generating Revenue, Insurance, Taxes, Etc. > Small Business Finance
Register Search Today's Posts Mark Forums Read

Reply
 
Thread Tools
Old 4th March 2013, 01:10 AM   #1
williamjames732
Member
 

Join Date: Jan 2013
Posts: 64
Default Small Business Loans..?

Hello,

If Business owners going for small business loans. Which is a better way to get small business loans. Loans from small banks(local banks) or international banks or some organization.

I am looking for the your replies guys.

Thanks

williamjames732 is offline   Reply With Quote
Register or log in to remove this ad.
Old 6th March 2013, 12:03 AM   #2
nancy123
Member
 

Join Date: Jan 2013
Posts: 25
Default

Quote:
Originally Posted by williamjames732 View Post
Hello,

If Business owners going for small business loans. Which is a better way to get small business loans. Loans from small banks(local banks) or international banks or some organization.

I am looking for the your replies guys.

Thanks
It depends on your work experience and your business history, better your work experience and business idea , easier it will be to get the loans. But the banks mostly doubt on the newcomers , so it will be somewhat difficult for them as the banks donít want to take the risk of losing the money.

nancy123 is offline   Reply With Quote
Old 6th March 2013, 01:34 AM   #3
richardgere
Member
 

Join Date: Sep 2012
Posts: 3
Default

I think Govt. banks or cooperative banks are good option for small enterprises. There have a low interest and guaranteed security facility.

richardgere is offline   Reply With Quote
Old 7th March 2013, 09:31 PM   #4
cjjohnson
Member
 
cjjohnson's Avatar
 

Join Date: Mar 2013
Posts: 4
Default

I have a friend that wanted to expand his business and he found trying to get a loan through the bank was tough. There was a lot of paperwork involved only to find out in the end that he didn't qualify for much. He found a lender that provides loans to businesses that have grossed at least $100K with no personal guarantee. They also reported the loan to the D&B so it helped build his business's credit for down the road.

Exploring financing options outside of the banks is something you might want to consider.

cjjohnson is offline   Reply With Quote
Old 8th March 2013, 11:01 AM   #5
markrootcarman
Member
 
markrootcarman's Avatar
 

Join Date: Feb 2013
Location: India
Posts: 16
Default

Quote:
Originally Posted by williamjames732 View Post
Hello,

If Business owners going for small business loans. Which is a better way to get small business loans. Loans from small banks(local banks) or international banks or some organization.
In may opinion you should take loan from a international bank if the budget is low otherwise go to the local banks.

markrootcarman is offline   Reply With Quote
Old 8th March 2013, 10:24 PM   #6
panthervision23
VIP Contributor
 

Join Date: Mar 2013
Posts: 516
Default

For banks and loan companies, it's all about your credit history. They want to know if you can really pay them up regularly. This would take a lot of convincing on the part of newcomers; especially in today's economy.

panthervision23 is offline   Reply With Quote
Old 11th March 2013, 07:02 AM   #7
dianne
Member
 

Join Date: Oct 2011
Posts: 11
Default

Are you only looking to secure finance from a bank? They will both be looking at your business plan, credit history and your businesses abilitiy to generate revenue. You might want to look at other business finance options if you haven't done so already. Bank loans can be difficult to secure, particularly in the current climate.

dianne is offline   Reply With Quote
Old 17th April 2013, 09:01 AM   #8
Funding Zone
Member
 

Join Date: Apr 2013
Location: New York City
Posts: 7

Default

Banks require a lot of paperwork, nearly perfect credit and for you to be able to put up some money. It usually takes a month for them to Approve or Decline your application (banks have high decline rate) Even if you do get approved for the working capital now you have to wait a few months to even get the money in your account.

International Banks.... hmmm very skeptical because they're are more scammers than real lenders. I've tried international loan but almost got ripped off for $18,000 of my own money, luckily I have a friend that helped me.

I hope that helped you.

Funding Zone is offline   Reply With Quote
Old 28th April 2013, 07:43 AM   #9
phanio
VIP Contributor
 

Join Date: Feb 2009
Location: Texas
Posts: 261
Default

Unless you really don't need a business loan but WANT one as not to use your own money - then a bank business loan will not work for you - you won't get approved. Banks want to see cash flow (lots of it over a long period), tons of collateral (that is easily salable) and a loan application that does not require them to think about it very hard. If you can provide that, then go to any bank. If you can't, look for the many, and I mean many, alternative ways you can fund your small business until it get big enough to hit the radar screens of those banks.

__________________
Business Money Today - Small Business Loans
phanio is offline   Reply With Quote
Old 3rd May 2013, 10:56 AM   #10
markrootcarman
Member
 
markrootcarman's Avatar
 

Join Date: Feb 2013
Location: India
Posts: 16
Smile

Quote:
Originally Posted by williamjames732 View Post
Hello,

If Business owners going for small business loans. Which is a better way to get small business loans. Loans from small banks(local banks) or international banks or some organization.

I am looking for the your replies guys.

Thanks
If you have good guarantee of someone or your documents are completed as required by international banks then you should have to go with international banks otherwise local banks are good for it.

markrootcarman is offline   Reply With Quote
Reply   

Bookmarks


Similar Threads
Thread Thread Starter Forum Replies Last Post
Small Business Wizardry Joins The Small Business Ideas Forum! Dane Pymble New Member Introductions 1 11th November 2011 07:06 AM
Article: The Perfect Business Logan What Type of Business Should I Start? 4 11th September 2011 09:03 PM
Small Business Forum Update | June 1, 2010 Logan Archived Newsletter Threads 0 31st May 2010 11:12 PM
100 Small Business Audio Podcasts sannwood Small Business Trends Forum 4 24th August 2007 10:25 AM
Small Business Administration (SBA) Loans for Women Linda Small Business Finance 1 28th March 2006 09:42 PM



Thread Tools

Get Updates
RSS Feeds:
RSS Feed for Small Business Finance RSS for this Category Only: Small Business Finance

RSS Feed for Small Business Ideas Forum RSS for Entire Forum
Forum Rules


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


Small Business Ideas Forum


 
At Your Business - Small Business Directory
Free Business Forms - Prewritten Documents
 
Search Engine Guide
Small business guide to search marketing

 
Small Business Brief
Fetching the Best Small Business Info


Free Links - Free Advertising
Free Guide - Online Directory



Advertise your business here
Contact us for more details!


Semantic Juice
Register now to access free Quick SEO service!


Rocket Lawyer
Sign up for free 7 day trial. Boost your biz!


Buy UPC Codes
Get your products listed online!




All times are GMT -5. The time now is 09:34 PM.


Powered by vBulletin® Version 3.7.3
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Copyright 2004 - 2018 - Privacy