Have you been dreaming of starting your own business? It is time to turn that dream into a reality. With a carefully thought out business plan and a clean credit history you could get the financing you need to cover startup costs and start creating a successful business.
Startup business loans can be difficult to obtain as many lenders view new businesses as a high risk. This does not mean that it is impossible to obtain financing. With a carefully thought out business plan and a clean credit history you could receive financing. With a fixed interest rate and affordable monthly payment, you can start building your dream business without the stress of money.
Because your new business has yet to establish a credit history yours will be looked at. Be sure to check over your credit report and dispute any incorrect markings. The better your credit, the better your chances of approval. The lender may also require personal collateral, such as your family home, to be placed as a guarantee of repayment on the loan. Startup business loans can get you up to 80% of the cash you need to start a new business.
Chris Fuller went to the University of South Florida and has worked in the financial sector for over 20 years. He has extensive experience in all aspects of personal and small business lending, from personal loans, equipment finance to cash flow based solutions for small mom and pop businesses, and large corporations.