Here I'm also adding Some More Important Points With You:1. Choose the right size small business startup loan. Avoid asking for more or less money than you need. You shouldn't write your business plan to justify the amount you want - instead, use your business plan to determine how much you need.2. Find the right small business startup loan lender. Some lenders focus on small business startup loans - these are your best chance for success if you fit the mold. If they're familiar with your industry, all the better. small business loanunsecured business loan ---This post was edited to remove a commercial link. Read our discussion policies for more Community best practices.

Hey Denocity I'm not sure what you mean by 'do it fine', but getting a loan in your situation shouldn't be all that tough. Your going to be asked to be a personal guarentor on the loan though, and I'd really think about that. I'm not a proponent of using your home, were your family sleeps, for business collateral, especially in the auto sales industry in 2010, things are changing my friend and mortgaging your home for an auto business, because thats what you know is, in my opinion, not a good idea. Something to think about, there are creative business financing alternatives you can check out here. ---This post was edited to remove a commercial link. Read our discussion policies for more Community best practices.

Hi Dencocity, Search the Loans and Grants tool to see if there are any loans available for your line of business. Feel free to read our blog on other ways of obtaining financing: I need Money- where do I get it?

I put a list together of 13 options for small business financing you might find helpful that is here: blog.directcapital.com/2010/01/15/5-steps-to-get-your-2010-small-businessfinancial-house-in-order/ Before searching for any financing, make sure you get your financial house in order. /blog.directcapital.com/2009/12/09/13-small-business-financing-options-for-todays-economy/ --- This post was edited to remove a commercial link. Read our discussion policies for more Community best practices.

Unless you either have great collateral or great income and credit, getting a loan today is tough for a new business. You might try searching for 'Floor Plan' financing. - This is where a third party will finance upto 80% of the vehicle amount you buy to sale. Then, when you sell the vehicle, you pay off the advance on that vehicle. There are companies that only provide these types of loans (facilities) or many aution houses also offer floor plan financing. Might get you some of the funds or inventory you need. For the rest, talk to your local and community banks - many may not finance your busines but may provide you a personal loan or maybe even a SBA guaranteed loan.

I'm not sure about your loan need. Sometimes we say I need only US$ 50K to make my business fine' but we are focusing a financial situation vision. The people that lend money will encourage you to get money and they will pressure you to set your vision in this point of view, but money is just a part of a company.   I think you have to get all information about your business performance to make a complete evaluation of it.   You have to answer the following questions: 1)      How many cars are you selling per month? 2)      What is your profit per sold unit? 3)      What are your costs? 4)      What is the break even of your company? 5)      Why exactly do you need US$ 100K? 6)       What do you intent to do with US$ 100k?   I think if you need to sell 10 more units per month, you don't need to loan, you need a new marketing strategy or just an additional effort to sell more units. If you need to sell 100 more units per month to get your break even you have to review all your business strategy and to lend money may be your bankruptcy, because before the money you have to build a strong business strategy.

If you're a start up you'll probbaly struggle for a business loan without collateral. Getting a mortgage for your own home will also be a problem as you don't have a stable income yet to give th lender security. Do you have a track record you can show in past businesses? that may help with your credibility in a lenders eyes.

I assume you have registered your business name and entity type with the appropriate office in your state. If you do not yet have a business plan, you will need one before you approach lenders. If you are not comfortable writing one, you might contact a small business development center in your area. The counseling is free and they can help you with the necessary market research and plan writing. Then, you might approach banks that offer SBA loans. Generally, a community or state bank is easier to work with than a large national bank.