Small Business Loans

Hi James! may I know how small is your business? Hey there are few business loans that depends on your company's turn over. If by sales is upto a certain figure, banks do not look into your company's profit and the calculation is straightly done on the basis of turn over. There are banking apps available like HDFC's iOS mobile banking, it helps you identifying the different type of loans and other products that suits your need. It really helps in figuring out the right solution for you.

You can apply through the small business admin.
http://www.sba.gov/content/find-small-business-loans

There are some rules and policies that are set by banks and financial institutions that may provide loan and usually small business loans are provided according to need and demand also turnover of the business.

You can get loans for small business through various sources like banks or some money lender firms. As per my opinion go with the nationalize banks for loan as their interest rates are low and re-payment time is high.

If your credit score is good, you can get a decent loan from the bank. However, if your credit score isn't good or your requirement is big, go for a collateral loan.

Bank offer a loan on basis of nature, size of your business. You'll have to submit legal documentation for business credit history, financial statements, detailed business plan and cash flow projections for at least a year etc.

There are finnacial institutions and also private lenders however i would recommend to follow the most frequented path and visit the banks and other finnacial institutions for loan

If you want loan for small business then first of all know about the rules of the bank, where you want to take a loan for your small business. Prepare your document as Personal and business credit history, business financial statements, your business plan, Personal guaranties they are important while taking a loan. Set up a size of your small business because small business also has different types.

For business loan refer to a bank, they provide loan for different aspects of business. Bank offers some loans to set up business as a working capital loan, project funding and various short term and long term loans that help to set up business.

For getting loan for small business, you may follow these steps:
Criteria of that bank for giving business loan, have all the personal data like business credit history, etc., How can you get financing to start a business.

Here are 3 ways to get a loan for small-business:
Banks are still the cheapest, most trustworthy source of funding.
Small Business Administration loans now increasing in number.
Investors, small business offering financing on the Internet.

There are a number of small business loans available. Check the financial institution’s loan scheme. However it needs you to make a detailed project report as well. You can also check online.

On the SBA site, there is a 6 Step Guide on how to get a small business loan. Step 6 has a list of groups that can help with the process, like SCORE.

There are several sites where businesses can seek alternative lenders, such as individuals and small companies.Interest rates are generally a little higher than what a bank will charge, but it's much less than what you'll have to pay on many credit cards.