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

And he's looking for 50-60k, read much?

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.