Startup Business Loan or Line of Credit?
May 12, 2010 
2 Comments
I need a BUsiness line of credit or Loan for @ $40K … Its a new Business no Business Credit History and My credit is @ 670 . where can I get this and I also have 20% for down if needed
Revolving lines of credit are extremely important to a small business. The SBA has developed and offers loan products that address your need. A new program called the Patriot Express revolving line of credit maybe a consideration. However, this loan is targeted to the military community and spouses. A regular SBA loan is also something you can apply for. I would encourage you to visit SBA.gov All banks can participate in this program. You are require to have a 10% injection of your own money and you must demonstrate an ability to debt service the loan. These requirements can be shown by having a sound business plan in place. If you need assistance in packaging your request please feel free to contact me direct. Good luck on your venture.
you can try prosper.com (up to 25k)
——————————————
I’m posting this to warn EVERYONE on yahoo! abt Loan scams.
Beware of Advance fee Loan scams.
LOAN SCAM – Do Not Pay UpFront Fees.
Do not send money UpFront via Western Union or MoneyGram to any person or business in the UK, Nigeria or Canada in hopes of getting a loan. If you do you will learn a hard lesson & never see any Loan money.
References :
Revolving lines of credit are extremely important to a small business. The SBA has developed and offers loan products that address your need. A new program called the Patriot Express revolving line of credit maybe a consideration. However, this loan is targeted to the military community and spouses. A regular SBA loan is also something you can apply for. I would encourage you to visit SBA.gov All banks can participate in this program. You are require to have a 10% injection of your own money and you must demonstrate an ability to debt service the loan. These requirements can be shown by having a sound business plan in place. If you need assistance in packaging your request please feel free to contact me direct. Good luck on your venture.
References :
SBA.gov