REVscene - Vancouver Automotive Forum


Welcome to the REVscene Automotive Forum forums.

Registration is Free!You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! The banners on the left side and below do not show for registered users!

If you have any problems with the registration process or your account login, please contact contact us.


Go Back   REVscene Automotive Forum > Vancouver LifeStyles (VLS) > The Business and Financial Forum

The Business and Financial Forum THIS SPACE OPEN FOR ADVERTISEMENT. YOU SHOULD BE ADVERTISING HERE!
Revscene Wall Street.
Consolidating debt? Good business tips? Buying stock? How's our economy doing? Discuss and share advice and tools on everyday banking, investing, wealth management and insurance.

Reply
 
Thread Tools
Old 12-19-2010, 10:50 PM   #1
WOAH! i think Vtec just kicked in!
 
Join Date: May 2005
Location: vancouver
Posts: 1,613
Thanked 218 Times in 59 Posts
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.
Advertisement
rslater is offline   Reply With Quote
Old 12-19-2010, 11:00 PM   #2
MiX iT Up!
 
tiger_handheld's Avatar
 
Join Date: May 2006
Location: vancouver
Posts: 7,843
Thanked 1,954 Times in 799 Posts
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.
__________________

Sometimes we tend to be in despair when the person we love leaves us, but the truth is, it's not our loss, but theirs, for they left the only person who couldn't give up on them.


Make the effort and take the risk..

"Do what you feel in your heart to be right- for you'll be criticized anyway. You'll be damned if you do, and damned if you don't." - Eleanor Roosevelt
tiger_handheld is offline   Reply With Quote
Old 12-21-2010, 08:21 PM   #3
Ubereem Mod
 
Gt-R R34's Avatar
 
Join Date: Mar 2002
Location: Richmond
Posts: 3,070
Thanked 120 Times in 63 Posts
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.
__________________
Quote:
Originally Posted by Culture_Vulture View Post
sometimes I like to use kindergarten art class scissors to cut my pubes
Gt-R R34 is offline   Reply With Quote
Old 12-27-2010, 03:32 AM   #4
Banned (ABWS)
 
Join Date: Dec 2010
Location: canada
Posts: 76
Thanked 10 Times in 5 Posts
recently got one from coast capital and did not need financial statements for any loan under 10g
sarger604 is offline   Reply With Quote
Old 12-27-2010, 06:29 AM   #5
I *Fwap* *Fwap* *Fwap* to RS
 
_Hotsauce_'s Avatar
 
Join Date: Oct 2007
Location: Victoria
Posts: 1,585
Thanked 952 Times in 180 Posts
Quote:
Originally Posted by sarger604 View Post
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?
_Hotsauce_ is offline   Reply With Quote
Old 12-27-2010, 12:42 PM   #6
WOAH! i think Vtec just kicked in!
 
Join Date: May 2005
Location: vancouver
Posts: 1,613
Thanked 218 Times in 59 Posts
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.
rslater is offline   Reply With Quote
Reply

Thread Tools

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
Trackbacks are On
Pingbacks are On
Refbacks are Off



All times are GMT -8. The time now is 06:35 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2018, vBulletin Solutions, Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net