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When getting a loan here are things the bank looks for: A business plan detailing the product/service,, customer, location, and financial analysis. Your business experience and how well you understand this industry. Can you make this business work. Do you have personnel on your staff to supplement your lack of skills. history which demonstrates your ability to handle credit. Your personal credit score needs to be well above average. What collateral do you have and how can you guarantee the loan in case of problems. Terms – How much, How long and For what? Can the what be reposed in case of problems? Your equity. They like to see you putting up more than 25% of what you need. You could try the SBA Microloan Program where you can get up to $30K. www ... and you can find SBA Accredited Microloan Providers here www ... Hope this helps.

by ynot

2 years ago

Asker's Rating: 

small large business loans simply mean not in the monetary sense but is your business a smal business o a large business. No your wife does not need ot be working, have a look around online there are some great offers out there for small businesses. below is a site you should look at for info on all small business things

by moopoo_tv- 2 years ago

Look up www.sba.gov - They will have all the info you need to apply for a small business loan and usual terms. But yes, someone has to have some verifiable income from some source or an existing business show profit in order to get any business loan. There is a difference between grants to start businesses and loans to grow businesses. Small business loans are for up to $35,000 and are designed to grow an existing small business, such as to purchase new or more equipment. These loans typically have to be paid back in full within 1 year, so the average of these loans in the U.S. is $13,000 per loan. In most instances, your business must show credit cards receipts totally between $100K and $150K annual sales in order to qualify. Large business loans are for any business larger than the "small" outlined above. These are typically business which already have a large cash flow and a large number of assets, but wish to borrow to expand more (i.e. takeover another company, build a new location, etc). Repayment terms on these vary, and getting one requires a comprehensive business plan review with a large lending institution as well as collateral to back it up.

by tushanna_m- 2 years ago

If you do not have a bad credit getting business loans are easy. It is generally seen that bad credit acts as an obstacle in the smooth running of a business. Are you also facing the same problem? No need to worry, as bad credit business loan is here to solve all your problems<!--The perfect use of bad credit business loan comprises of the improvement of credentials so that you can avail any loan in the future. You can find more information on Business loans here, badcredits ... You can first gather complete information regarding these types of loans. Move ahead in business with bad credit business loans. An effective way to get rid of your bad credit score and to speed up your-->business dealings is bad credit business loans. You can maintain your perfect credit score as long as you pay off your installments in time. This credit score improvement can enable you to avail any future loan with better terms and conditions.

by mike h- 2 years ago