by brem, Window Shopper
- Created: September 27, 2011, 8:23 pm
- Updated: August 14, 2013, 11:12 am
is there any money out there for a start up? after 2 applications, one bank told me everything was great but that the SBA turned me down stating I needed an experienced partner at 20% - SBA said no, they would not say that. The other bank said they could not offer me an SBA loan, but they could offer me a loan on my home.
I Have a good credit score and collateral and approx. 10% cash. SCORE thought my plan and experience was solid.
I'm missing something, what is it? Are there other funding combinations, like taking the loan on the home and then seeking a smaller SBA loan. I'm out looking for 185 to 200k
Is there a secret to the financials -secret ratios?
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