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When applying for business loan do you need a large amount of savings?
Wiki User
∙ 15y ago
Depends on the Loan, Investors, and the type of loan
In some cases all you need is a Good FICA of over 720 and a good
LOI (Letter of Intent) - Plus a C-Corp!
You can get loans for 1 Million to 100 Million through investors / FICA
at only 1% over prime!
Wayne
Wiki User
∙ 15y ago
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gone
What exactly is a high interest savings account?
With a high interest savings account, the saver can get a large return on their savings. At current rates, the interest can range between 3-5%. However a large amount of accounts with higher interest may impose a penalty if you withdraw from that account.
Can you save 50000 dollars at one time into a US Savings bank account?
You can save large sums of money into a US Savings bank account, but any large amount will trigger bank reporting under the US Patriot Act. I believe it is any amount of $10,000 dollars or more.
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