answersLogoWhite

0


Best Answer

A small business loan is one of the most treasured commodities in the business world. It is still very hard to get despite the claims and promises of banks, credit unions, and other lending institutions that they want to help American smallsuppliers and vendors. The main reason that the banks use for not granting many loans during this period is like the same reason that a student can't get a job coming out of school. They don't have the experience.

Banks are not non-profit institutions. They want some sort of reassurance that they are going to get paid. At the very least a bank wants to see that you have been in business for at least two years and that your books aren't upside down. Expect to provide tax returns, balance sheets and P&L.

If you don't have two years under your belt another way to get capital is by talking to private investors or using your own property as equity for a loan.

If you have a killer business model and talented and experienced people working with you try looking for venture capital.

User Avatar

Wiki User

15y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: If you are not working can you get a small business loan?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What kind of loan do you need to purchase a piece of a small business?

You may either apply for a small business loan or a personal loan. Google small business loans


where can i get a small start up va business loan ?

Where can i get a small start up va business loan.


What is the use of a miniorty small business loan?

The use of a minority small business loan is to give a small business a small amount of money which later will have to be re payed. These are mostly used when a business starts out.


Can you use a personal business loan for your small business?

Yes, you can use a personal business loan for your small business, even though you might need to consider a small business loan for those purposes. Personal business loan rates are also higher.


Where would I apply for a small business loan in Atlanta to open a small flower shop?

You need to contact the Small business administration for help with a small business loan. Their website is sba.gov.


Where can one find information on small business working capital loans?

Small business capital working loan information can be found on the funding sources website. If you need help or specific information not publicly listed, you can contact a telephone specialist.


What are options for sba loan help and who provides it?

The US Small Business Administration is the go to place to answer all of you small business loan questions. The US Small Business Administration finds resources for small business owners to help achieve the small business goals. SBA does not provide the direct loan, but they are who backs the banks to do so.


How to get working capital loans Call : 201-676-3971?

We are one of the best Small business loans providers for your organization, Unsecured business financing at best rates Florida, Unsecured business financing at best terms Florida, Working capital loan providers Florida, Unsecured business financing in California, Unsecured business financing at best rates California, Line of credit companies in Massachusetts, Small business loan providers Georgia


How do you spend 50.000 loan in a small backery business?

How do I spend 50.000 loan in a small bakery


What bank in Plano, Texas offers the best small business loan?

Bank of America offers the best small business loan at 10%.


What requirements are there to get a small business loan?

The requirement for a small business loan would be debt asset ratio, credit worthiness and ability to pay.


How do i get a Government Loan for a Small Business?

While you cannot get a loan for small business directly from the government, you can take out a loan from a bank or other lending institution that is guaranteed by the Small Business Administration (SBA). The main loan program is called the 7(a) Loan Program, and it is designed for existing businesses and start-up businesses.