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 jajapee
Teh Bonerz
Registered: 04/13/08
Posts: 394
Last seen: 15 minutes, 15 seconds
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 Bank Loan Question
#8386447 - 05/10/08 06:23 PM (3 months, 26 days ago) |
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I want to open my own coffee shop but, I have no money. However, I do have a nice credit score and not a single blemish on it either, ever. Somewhere in the range of 725-750 (im only 24).
What im looking for is information on bank loans for personal businesses. Has anyone ever done this before? If so, what information must I have in order to help me get approved? Is my credit score high enough for a decent sized loan? Also, I am moving so im changing banks. Anyone know of any new account bussiness loan specials, if there even are any (lol)? Thanks guys!
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 bmiles
artist
Registered: 12/31/07
Posts: 2,244
Loc: on the left side
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Re: Bank Loan Question [Re: jajapee]
#8386483 - 05/10/08 06:31 PM (3 months, 26 days ago) |
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I don't know very much about starting a business,
but I've read that you have to convince the bank
that your business is going to make the money back
before they will even loan the money. You have to
be very organized and have your entire business plan drawn up
before you even approach the bank, and then you have to sell
them on it. The loan will probably be based on your income,
and if you have any other parters.
Honestly, I really don't know the answers to your
questions, but I'm interested in finding out.
--------------------
Never go with a hippy to a second location.
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jajapee
Teh Bonerz
Registered: 04/13/08
Posts: 394
Last seen: 15 minutes, 15 seconds
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Re: Bank Loan Question [Re: bmiles]
#8386492 - 05/10/08 06:34 PM (3 months, 26 days ago) |
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Damn well if im unemployed and no partners so ill have to figure this one out lol
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