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I would like to start a business in my local country with my factory located in the neighboring country, may i know how i can go about getting funding for this business.
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Question
bank loan
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7 Posts
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Answer
Steps:
1. Write a business plan.
2. Find a bank that's willing to give you a loan based on that business plan,
That's the way to get a bank loan.
Kees
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@Kees_B has explained it very well but I would like to add in a few points here about what all are the requirements for it:
1. Your business must be eligible on size and cash flow basis after making a strong business plan.
2. Your ability to pay back the loan - your assets.
3. Do carry all the business details like credit history of the business, financial statements and guaranties.
4. You and your partner must be of good character and experienced in business.
Tip: Try not to choose large banks for small loans as they tend to reject such applications more due to less profits.
In case of more confusions, you must reach out the experts near you.
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Log into KIVA.org and check out their requirements.
Maybe you would qualify, maybe not, but they have micro-loans.
JG
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You have to follow the right method to get the loan for your business.
There are many professional companies in the market, to whom you can approach to create a good business plan for you as per your requirements .
They know how to create an efficient business plan and they also have tie-up where you can get the loans.
Simply, you need to search for business planning firms that are giving the services for the same.
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With the right financial source for the right situation for the right reasons, small business owners can take benefit of this access to cash to grow, meet their goals, and continue to do great things for their customers.
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To start a new business, there are many ways to get funding for your business. But, never go for Bank loans, that’s my personal experience! There are many options of taking a loan;
• Peer-to-Peer (P2P) loan
• Funding your business with retirement account
• Taking a Business Loan from Friends or Family
• Business Credit Card
• Funding through your home as Equity
• Angel Investors
• Crowdfunding
• Venture Capitalist
• Taking Online loan services
Company names removed by moderator.
Post was last edited on December 28, 2015 12:39 AM PST
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