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Looking for a small business loan for a new business

by cindymmc262 from Indianapolis, Indiana. Oct 24th 2017 Reply


Corey Vandenberg (Coreyv)
#66 ranked lender in Indiana - 27 contributions

Normally a new business is self-financed or family and friends financed, or hard money lending, including equity lending (they want a piece of the business and a say in what you do). Since there was no information given, it is hard to answer this. IF you didn't quit your job, you can likely use your personal credit and collateral (including your home) to borrow against to fund the business. IF your significant other is still working, they can do the same. The issue is when you have sacrificed everything and only have the business, in which case most banks are looking for 2 years' tax history in order to give a loan. Even SBA has that requirement, so I hope that that is not your case. If you would like to expand on your situation (what kind of business, how much debt and income you have still), perhaps we can answer it a little better...

Oct 24th 2017
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We are both working and will continue until business is going. I will continue working even after it is going. Is it best to enter information here or can my husband call you this evening or in the morning with details? If so, contact phone number and your name.

Oct 24th 2017
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Corey Vandenberg (Coreyv)
#66 ranked lender in Indiana - 27 contributions

I am a mortgage banker but will be happy to offer guidance: www.phmc.com/coreyvandenberg I am in Lafayette, IN, just a little ways north of you.

Oct 24th 2017
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Emelda Harris (EmeldaH)
#72 ranked lender in Minnesota - 2 contributions

Hi, CindyThere are some options for New Start up businesses, typically it is difficult for new business to secure funding from the Banks or even the SBA. Hard Money can be an option as well but they require some seasoning for the Business as well. I do have Unsecured lines of credit that would assist you in your new venture. The funds can be used for any purpose. I can Pre-Qualified you for $20k - $350k in Personal and or Business, if the business has been in operations for 3 months. If not then it could be Personal and Start Up Lines of Credit. For more information please email at: emeldaharris@exactbusinessfunding.comI look forward to hearing from you.Thank you!

Oct 24th 2017
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Hi Emelda, just verifying the end of your email...is it .com or .coml??Cindy

Oct 24th 2017
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Hello Cindy, contact me on metroplexmortgageservices@yahoo.com for your startup loan.

Oct 25th 2017
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