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Can anybody tell me about business loans?
I am confusing between loans and business loans.Are they both same or there is a difference betwen them?3 months ago - 3 answers
In a macroscopic view, investments break down into two forms: debt and equity. You take on debt when you borrow money from a lender, and pay interest on that investment. You are required to repay the money with interest over time. Or, you can take on an equity investment — in which you sell a portion of the company to an investor in return for cash or something else of value.
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Source(s):3 months ago
different animals and requirements.
visit local library for books on credit slavery and loans
b4 u get burned and stuck in payments for decades.
Source(s)by Rob - 3 months ago
Personal loans can be used for personal reasons and are driven by really only 3 factors: income, credit and collateral. Since these are tied to you personally, it is easier to creditors to take legal action if you go into default.
Business loans are super high risk. Since its tied to a business, which could dissolve at any time, it takes much more to qualify. In addition to the personal requirements, you also need to prove exactly what the funds are to be used for, why you need the money, why you need what you are buying, and how the business plans to pay back the loan. Furthermore they take into account your time in the industry and if your industry is historically high risk.
If you have any questions or are interested, let me know. I'm a SBA specialist and offer business planning services for free. firstname.lastname@example.org