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    Thread: What is the best method for getting a loan from the bank to start up a business?

    1. #71
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      Default Re: What is the best method for getting a loan from the bank to start up a business?

      It's not easy to just work into banks and apply for a startup loan.
      As a matter of fact majority of the banks doesn't give out loans for a startup business, why? Because half of. The startup small business crash at The beginning, so they are not willing to take the risk.

      But if are willing to try out our Lock here are few things that can change their minds

      1. Having a good credit score: this shows our loans history and how far we are able to quickly pay back.

      2. Having a good business plan : a good business plan that doesn't only benefit the business owner but others as well will convince the bank or any government related loans.

      3. Our account must not be empty : no banks will lend money to a rural broke individual, we Must show that we are capable of paying back.


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    4. #72
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      Default Re: What is the best method for getting a loan from the bank to start up a business?

      Seniors and mentors always suggest " invest the only money that you can afford to lose" the money like loans that you cannot afford to lose that you should not invest in the trading business, to invest such money you need another less risky business where the returns may remain slow but you can earn from that and can make regular returns there. Forex trading is not a business where you can invest your loan soi will not suggest to do it. If you have to obtain a loan for some else purpose then the very first thing that you need is a business proposal then present that to your bank they will decide how much they invest in this idea.

      I Trade Structures, not Noise.


    5. #73
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      Default Re: What is the best method for getting a loan from the bank to start up a business?

      To be frank with you, most banks no longer buy into a person's beautiful proposal in giving him/her a loan. Infact even when you have a guarantor does not mean you will be automatically granted a loan. As it stands today, if you need a loan to start a business, the only thing that can guarantee you a loan is to have a collateral. A collateral is what you give as an exchange for a loan so that if you default and fails to repay the loan after the expiration of the repayable period, it can be sold and the money realized will be used to replace the money you borrowed. A collateral can be in the form of an house, land, car, business or any other asset. The collateral will be handed over to the bank as well as its documents. Therefore anyone that needs an itch free loan from a bank needs to have a good collateral at hand which equals to the amount of money needed to be borrowed.


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    7. #74
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      Default Re: What is the best method for getting a loan from the bank to start up a business?

      The very first and basic knowledge we should have is that getting a loan from the banks depends on the type of business that you do, and the general recommendation anytime you are planning to get a loan is that never use a loan facility for a start up company, there is a possibility that the company may never do well because of harsh economic situation, the business that is requiring you to get a loan must be up and running with some book keeping to show as an evidence about how long you have been in the business, getting a loan should he the last option after you must have exhausted every other options. Loans make you unsettled, especially when your business is not doing well as anticipated.


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    9. #75
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      Default Re: What is the best method for getting a loan from the bank to start up a business?

      Honestly its not easy to get loans from the bank to start up a business, this is one of the thing the bank used to avoid, bank do give out loans on two conditions that i know of, which are through merit and to the the establish business.
      In my country its not possible to get a loan to start a business without having am existing business that can be used as collateral.

      but there are other financial banks that gives out mini loans, such as the micro finance banks, which can be in support of the government.

      but to get a loan from the bank we must be
      1. we must have a good credit score
      2. have a good business plan
      3. prepare a good and convincing presentation


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    11. #76
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      Default Re: What is the best method for getting a loan from the bank to start up a business?

      In order to get a secure a loan, most banks require you to possess a extreme financial drawing showing a technical detail which contribute what your business entail.
      Capital is one of the things that any business must have arrangement that will smoothly run its operations. In spite of this, the only obstacle that remain in between the ideas to move the business is lack of capital and when you need loan to start your forex trading this will be a significant mistake since forex trading is extremely risky business but you have to trade in forex trading alongside the money that you are liable to lose but at a time you require loan to start business or project, you rather don't trade with your loan but trade with the money that you are liable to lose not your loan.


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