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What kinds of banks or institutions are best for taking out small business loans ?
I’m thinking like 250k
If anybody has any positive or negative experiences or horror stories, please share them
It really depends on if you are a start-up or an existing business. The key is to start with an institution that you already have a relationship with, unless it's Chase. Other than that you may want to contact smaller banks particularly those with relationships with organizations that support small business (AC4B, Chamber of Commerce, Urban League, Business Development Centers, etc) . Best Wishes!
It really depends on if you are a start-up or an existing business. The key is to start with an institution that you already have a relationship with, unless it's Chase. Other than that you may want to contact smaller banks particularly those with relationships with organizations that support small business (AC4B, Chamber of Commerce, Urban League, Business Development Centers, etc) . Best Wishes!
Thank you , why do you think chase is not a good choice ?
Ok I'll ask.
Before even addressing the question... What is the actual status of the business, or idea for one? Getting funding isn't the first step by any means.
Ok I'll ask.
Before even addressing the question... What is the actual status of the business, or idea for one? Getting funding isn't the first step by any means.
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Quote:
Originally Posted by Dad01
Thank you , why do you think chase is not a good choice ?
Local bank, or preferably a business level credit union may be far more likely to loan on a new business, than a corporate bank. (Lots of hurdles to jump, barriers to climb). You will wonder where they come up with all their obstacles!
(They do not take on risk).
Bullet-proof is not good enough for commercial lending.
Local bank, or preferably a business level credit union may be far more likely to loan on a new business, than a corporate bank. (Lots of hurdles to jump, barriers to climb). You will wonder where they come up with all their obstacles!
(They do not take on risk).
Bullet-proof is not good enough for commercial lending.
They want blood
I have found this to be accurate.
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