Board Topic: business loans recently filed my articles of incorporation
Click here to view this topic in its original format
LoanUniverse Community > General Chat >

business loans

Posted by: jamal Apr 30 2004, 11:24 AM
I recently filed my articles of incorporation, in which I would like to start framing houses.my problem is finding a lender willing to finance a loan for the company

Posted by: loanuniverse Apr 30 2004, 06:22 PM
Jamal:

I just gave a very similar answer to another visitor, but just in case that you missed it here is the main idea:

Most commercial banks will not finance startups without the guarantee of the SBA. I rarely get to see this kind of financing since the lender will just turn down the prospective borrower without taking it to the credit department. Of the ones that I have seen, I think only one of them got approved and was categorized as a "guarantor dependent loan", which translates into "A person with great wealth was starting a small business and the lender relied on his personal financial condition and income to do the loan.

If you are going to look for this type of financing, you will need a business plan.

Because you will need government help, you should work on getting that business plan going. There are a lot of resources on the internet about this matter, and you might even be able to take a look at some sample ones.

I also recommend that you visit these sites:

The SBA
SCORE

Good luck.
email

Comments are closed.