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Small Business Loans Just about to start calling banks in regards to getting a small business loan ($50,000-$60,000) and was looking to see if anyone has an recomendations on any banks or have dealt with any good people at any particular location in the lower mainland. |
why not approach teh bank that you have a long standing relationship with? you will need to sign a personal gurnatee so, might as well go with the bank that knows u best. they will base the loan on 5 C's Character (yourself) Collateral (personal gurantee) Capacity (how many pot plants :P ) Capital (other financing sources/options) Condition (payback ) use that criteria to measure yourself and , highlight key points when discussing the loan. |
not bad tiger. financial statements too of your company, if you're 2 years and under, a good business case. If you're really just starting out and have 0 money. Try Vancity and the Micro-Loan program. Cheers. |
recently got one from coast capital and did not need financial statements for any loan under 10g |
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Is this for a start up or an existing business? |
This is for a start up. It's me and my partner so we see it might be easier to split it up $30,000 each. This week is bank week for us so any last suggestions are appreciated. As for financial statements I have laid out our 12 month cash flow and cost benefit anaylsis on a month to month basis. I do believe I should have two more years of cash flow statements, but it just seems like a absolute guessing game. |
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