Business Loans With Cash Down

[Shags]

Anyone know any banks, credit unions, or otherwise doing business loans with cash down?

 

[Bulldog Man]

Have Banks stop lending money I don't understand the Question You just about always have to put some of your own money up

 

[Swede]

Is your credit poop?

 

[Shags]

Have Banks stop lending money I don't understand the Question You just about always have to put some of your own money up

I have went to a few and all wanted business bank statements showing quite the sizable income. I haven’t even launched this business so that’s out of the question. Only thing I’ve got is cash down.

Is your credit poop?

It’s pretty damn solid for my age. I have around 25k+ worth of loans paid off in the past year or so. Yet, for some reason I haven’t been able to get a business loan with reasonable terms.

 

[Grub Master]

You will probably need some type of collateral for any start up business loan. Maybe check with an SBA lender at your local bank. You can get a $50,000 new car loan approved faster with a credit bureau than a business loan for half the amount with a stack of financials. It's very tough for a new business. Most folks get money from family and friends, cash in an IRA, use a HELOC or just bootstrap it.