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Where can i get a loan for my business

by chathura, Creator

  • Created: May 6, 2009, 8:33 am
  • Updated: November 26, 2012, 11:04 am
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6 comments

I am an asian guy. I hope to start an online business (selling movies online). At the beginning i need some money to spend for this. Are there any place to get a loan to my business. (I like if there is a place that can apply online for a loan).

 

Thanks..

Tags: Discuss Popular Topics, Starting & Registering a Business
‹ Starting clients in Internet shop ›

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johntakebadcredit | Window Shopper | 11/23/2012 - 6:45 am

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4421william | Window Shopper | 6/5/2009 - 9:04 pm

I noticed that no one has mentioned the 'lender of last resort' sometimes...private equity. Google that term...basically, if you can find a couple of rich guys (or you can hire a firm to do it for you) AND if you have a good enough business plan that they think will turn a profit fairly soon, they will lend you the money (or a great % of it) that you need. Provided that you have decent credit, skills and experience, of course. This is the route we took for our search engine marketing company and it is paying great dividends. Message Edited by NicoleD on 06-08-2009 09:39 AM
Professional Web Site: http://www.waferscale.com

CutCompCosts | Contributor | 6/3/2009 - 7:37 pm

If you have good credit and some form of collateral you can start with your bank. Another option is to use a credit card. If you have trouble getting a loan you might want to try a lending club.
Professional Web Site: http://www.21-ways.com

phanio | Contributor | 6/5/2009 - 4:03 pm

Some questions - how is your credit and income? There are many resources that can help you if your credit is not too bad and you have the income to make the loan payments. There are perosnal loans and business loans for up to $125K Or smaller amounts from peer-to-peer lenders or micro-credit (usually up to $25K). Then, when you busines gets going - there are many other sources that can help you grow - like factoring receivables or credit card receipts.
Professional Web Site: http://www.businessmoneytoday.com/

anilimb | Creator | 6/2/2009 - 10:32 pm

I would also suggest you going to some local bank or some financial institution who may be agree to give you some money for your business or spend some time on internet to find a company who likes your idea and is interesetd in investing their money in your project
Professional Web Site: http://www.scopeformoney.com

NicoleD | Former Moderator | 5/6/2009 - 9:53 am

Hi Chathura. Typically the first place to start looking for a loan is through a local commercial bank or lender, as the government itself does not make direct loans. Loans for women/minority business owners are often provided by non-profits and/or state agencies. You can read more about small busines loan options here. To quickly find out which programs you may qualify for, check out our Loans and Grants search tool. If you have more detailed questions about financing, I would suggest you post them in the Loans, Grants, and Taxes board where they will be more visible to others with expertise in this area.