Grants are very unlikely for reasons already stated. For loans - lenders want to see two primary things. 1) the willingness to repay the loan (credit score) and 2) the ability to repay the loan (cash flow). Cash at time of application not what you think you may earn in the future.
Once these are satified - they will then look to protecting themselves - they will look for other sources of repayment like collateral, personal guarantees, co-signers, etc.
There are many optiosn for business financing - but they all come down to how much you are seeking and what the funds are to be used for.
Private and government related loans has a huge diiference. I thinkg some government sectors doesn't grant fast loans like some private loan company offers.
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Message Edited by ChristineL on 01-13-2010 01:49 PM
They are both different, you will usually only get a govt. grant if your business is a Non-Profit; an SBA small business loan is designed for small business. Go to http://www.sba.gov/ for more information.
Message Edited by NicoleD on 01-13-2010 04:16 PM
There area few other threads on this forum about the availability of grants for commercial enterprises, the general premise being that you can only get one if you're doing something the govt wants you to do. if not you're going to have to try and fund it yourself I'm affraid.
phanio | Contributor | 1/13/2010 - 1:31 pm
Mcdaddy | Window Shopper | 1/13/2010 - 1:37 am
ChristineL | Former Moderator | 1/12/2010 - 10:45 am
mdlt | Creator | 1/12/2010 - 8:44 am
mrhelpful | Contributor | 1/14/2010 - 5:21 pm
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