Business Loans

[drainy]

Is it possible to get a business loan when you have nothing to secure it against, such as property, or an existing busines?

Thanks

[WendyS]

I suspect it may be quite difficult unless you can dazzle your bank manager with an absolutely foolproof business plan and convince him that you've done enough research to succeed in launching your venture in the current difficult financial environment. But go and talk to him anyway. If he can't help he might be able to point you in another direction but I'd first recommend talking your plans through with anybody you know who has started up their own business and been successful. They will probably have lots of sensible advice to give you.

[Oneeyedvic]

Depends on a variety of factors:

1. How much do you want


2. How long have you been in business


3. What is the loan for


4. Are you a homeowner? (Maybe not to secure loan, but lenders want to know you will notmove in 1 months time)


5. Do you have experience in the business you are in

If you answer the above, may be able to give some further advice or may ask some more questions

[drainy]

thanks guys

[funnywebsite]

I would think so if you are earning enough