Thursday, September 15, 2011

Will it be easy for me to get approved for a $300,000 small business loan? I have a great credit score.? -

I also have two cars(infiniti) paid for, and an apt. paid for. Plus about $150,000 in bank.

Most business loans are not approved on the basis of credit alone. Banks usually require you prepare a solid, realistic business plan and then they will evaluate it to see if it will be a good investment, or a bad risk. If you use a large portion of your $150k savings, that will certainly help as the overall percentage of capital funds provided by the bank will be smaller (lower debt to equity ratio).

Not without some kind of collateral, but it s possible,

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