How quot;easyquot; would it be for us to get a small business loan? -

I would like to get a small business loan. My credit score is 750, my hubby s credit score is 780. The only debt we have is my student loan which is $40K. My hubby and I together bring home 70K after taxes. No kids or any other debt. Our monthly expenses are about $2000.00 because we are renting a cheap apartment for me to pay a lot toward my student loans. What is the average amount people ask for? We were thinking about asking for $50,000. What do you think?

If it s for a business, the business needs to be making money. However amount of money it s making is what thye base the credit / loan amount to be.If you don t have a business making money, you will need investors. To get investors you will need a buisness plan and be convince investors. The bank will give you a loan, but it will be tied up to your personal credit. It s not really a business loan or SBA loan. You are using it for a business, but if biz goes under, so will your credit. Protect yourself. Set up an LLC. Write up a strong buisness plan. Get investors to go along with your vision.Good luck!