Warning: Illegal string offset 'html' in /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php on line 909

Warning: Cannot modify header information - headers already sent by (output started at /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php:909) in /home3/loanuniv/public_html/forums/admin/sources/classes/output/formats/html/htmlOutput.php on line 114

Warning: Cannot modify header information - headers already sent by (output started at /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php:909) in /home3/loanuniv/public_html/forums/admin/sources/classes/output/formats/html/htmlOutput.php on line 127

Warning: Cannot modify header information - headers already sent by (output started at /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php:909) in /home3/loanuniv/public_html/forums/admin/sources/classes/output/formats/html/htmlOutput.php on line 136

Warning: Cannot modify header information - headers already sent by (output started at /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php:909) in /home3/loanuniv/public_html/forums/admin/sources/classes/output/formats/html/htmlOutput.php on line 137

Warning: Cannot modify header information - headers already sent by (output started at /home3/loanuniv/public_html/forums/cache/skin_cache/cacheid_1/skin_topic.php:909) in /home3/loanuniv/public_html/forums/admin/sources/classes/output/formats/html/htmlOutput.php on line 141
collateral - LoanUniverse Community

Jump to content


collateral


7 replies to this topic

#1 Guest_Tracey_*

  • Guests

Posted 10 November 2004 - 04:38 PM

I want to get a business loan but have no collateral and I will be renting the building that I am working out of how hard will it be to get a loan?

#2 loanuniverse

    Administrator

  • Admin
  • PipPipPipPipPipPipPip
  • 1,251 posts
  • Gender:Male

Posted 10 November 2004 - 11:14 PM

”… I want to get a business loan but have no collateral and I will be renting the building that I am working out of how hard will it be to get a loan?…”

No way to tell, it could be from easy to impossible, every loan is looked at by itself and whomever looks at it will make a decision based at the very least on the following:

- How much do you want to borrow?
- What is the money going to be used for?
- Historical financial information of the business.
- How much equity is in the business
- Your management experience
- Your personal credit history {big part in small loans}

And that is just to start

#3 underground

    Summer Intern

  • Members
  • 2 posts

Posted 13 November 2004 - 07:16 PM

Hi,


I have a question i have the same situation i have completed my business plan, anf financial forecast's, and also filed my first Quarterly taxes on my FEIN,

1.does that count for any equity in the business

2.How much Collateral is needed to obtain a 200,000.00 loan.

#4 loanuniverse

    Administrator

  • Admin
  • PipPipPipPipPipPipPip
  • 1,251 posts
  • Gender:Male

Posted 13 November 2004 - 08:28 PM

1.does that count for any equity in the business

Nope equity is just your investment in the company. Take a balance sheet and the assets should be equal to the liability and the owner’s investment in the company. A lender might even do some adjustments to this number to come up with a tangible net worth by taking out some stuff.

2.How much Collateral is needed to obtain a 200,000.00 loan.

There is no right answer for that. It varies and it is not only an amount, but the quality that is looked at.

#5 underground

    Summer Intern

  • Members
  • 2 posts

Posted 15 November 2004 - 09:17 PM

Ok what about if i have already purchased a domain name, and Webhostingg, And i am currently paying someone to worrk on my website, this is money i am investing into the business, Would that b considered Equity?

#6 loanuniverse

    Administrator

  • Admin
  • PipPipPipPipPipPipPip
  • 1,251 posts
  • Gender:Male

Posted 16 November 2004 - 12:16 AM

Yes, but it is not really that much equity.

Domain name = $20
Webhosting prepaid six monts = $200 <--- very high rate
Website Design = $2,000 <--- very high rate

You could very easily find a lender discounting the web design even if you capitalize it.

#7 Guest_Guest_*

  • Guests

Posted 16 November 2004 - 01:35 PM

Ok Thank you very much

#8 Commercial Lender

    Sr. Credit Analyst

  • Members
  • PipPipPipPipPipPipPip
  • 218 posts
  • Location:New York

Posted 25 November 2004 - 11:48 PM

NC Loans are tough. If you have the paper work you would be a candidate for some dort of SBA related finanicng (7A etc). Go to the www.SBA.gov website and depending on where u live you can find you local office and talk to them.





1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users