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When an economy is in a deep recession and many companies are going out of business or are losing money, banks are less willing to take risks in their lending policies. Thus, business loans are not easy to obtain.

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11y ago

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Are small business loans hard to get in this economy?

No small business loans are not so hard to get, following are the 3 way to get small business loanBanks are still the cheapest, most trustworthy source of funding.Small Business Administration loans now increasing in number.Investors, small business offering financing on the Internet.


Where can I find small business finance companies?

With the way the economy currently is, it will be hard to find companies that will give low interest loans. You're best bet will be to get a private loan or have a person invest in your company.


How hard is it to get commercial loans or money to start my business?

It shouldn't be very hard if you have good credit. You may also see if you qualify for any special loans, for women or minorities, for example.


Do pawnshops offer loans to people who are starting businesses?

they only offer loans for things that you bring in. no loans for businesses unless you bring in hard goods as equity. if you are looking for loans from pawnshops as a last resort, don't start your business.


How hard is it to get credit for a small business?

Very hard at the moment. Even the vetting criteria for SBA loans have been tightened in the wake of the credit crisis.


How hard is it to get small business loans?

A small business loan can be very hard to obtain without not having the proper type of paperwork. You would have to have good credit, a good job and some stability on the job.


Is it hard to qualify for consolidating private loans in today's economy?

Consolidating private loans should not be a problem as long as you have a good credit score and have kept up with payments on your outstanding loans. Visit your existing loan companies or call and discuss your desire to consolidate.


Anybody knows good investors for Hard Money loans that can get loans outside California?

You could shop around for online brokers, consult loan agent federations, consult business angels.


Is the Small Business Administration associated with the federal government and how hard is it to get loans approved by them?

The SBA is not a federal agency. If you are able to present a viable business plan to an SBA you can have a great chance at getting a loan approved.


what are the requirements in opening a new business?

Opening a new business is a lot of hard work and steps. One of the first steps is find out what type of licenses you must apply and pay for. Then, I would go through your bank for business loans to get started.


Is it hard to do business in Utah if not a Mormon?

No, it is not hard to do business in Utah if not a Mormon. Like anywhere else there are always those that may be closed-minded but most businesses in Utah recognize that success in business is in fair-minded approaches using current business practices and methodologies.


Are commerical hard money loans similar to bridge loans?

Commercial hard money loans are very similar to bridge loans. The primary difference between the two is the purpose for which the loan has been issued, the financial condition of the borrower, and the lenght of the term for which the loan has been issued. Yes commerical hard money loans are very similar to bridge loans.Both loans are short tearm and normally carry a higher interest rate.