What is the most important factor in getting a business loan?

Answers:3   |   LastUpdateAt:2012-10-24 17:34:03  

Asked at 2012-09-15 13:17:04
I'm in the process of writing my business plan for a new company , of course they have very little capital and am considering a business loan . What would you say is the most important factor for a small business loan of say $ 15,000. I have no prior financial statements of the company , and I will be putting in $ 2500 of my own money .
Answer1mshAnswered at 2012-08-05 21:12:02

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Answer2briarAnswered at 2012-09-20 07:53:04
Answer3grooveAnswered at 2012-10-05 02:26:29
Important factors: Is your business idea MedlinePlus salable to the public? What kind of competition do you have in this MedlinePlus what is already available? What is the proposed location? MedlinePlus What kind of labor costs are your expectations? MedlinePlus What are the projected revenues? MedlinePlus What are the projected operating costs? MedlinePlus What kind of experience do you personally in the management of this type of operation? MedlinePlus MedlinePlus MedlinePlus Numerous factors. If you only have a few of the angles covered, you will not get it. You have to know every aspect of your business idea. $ 15,000 without knowing your idea seems very low. Banks love to lend enough for someone began only foreclose on the months after. If you are preparing for the day in one, you should have all operating expenses and sitting on the bench during the first 6-8 months. This includes all taxes, labor, rent or mortgage, utility bills, shipping and receiving, insurance, office supplies, etc.. All I can say is do your homework in full. Know where every penny will be spent. Know your profit margin. Plan for the unexpected. Do not expect things to go well. The main thing is to believe in yourself and beleive in your business. Just a hint of unsurity will send empty handed. MedlinePlus MedlinePlus I spent 4 years with my project and have earned more than $ 4 million in funding from investors with bad credit and no money. You have to believe in yourself and your idea. Without trust you have nothing to offer and will not invest in you reguardless of their past history.
Answer4n\'deaAnswered at 2012-10-24 17:33:09
Write a plan informative, concise business . Highlight why there is a need for your business, why can attract business and how you will repay the loan.
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