Other useful material for you: free ebook: 12 tips for getting a small business loan
I. Contents of How to get a loan for business
===============Get funding
When you start a business, there’ll usually be a period when you’re investing lots of time, effort and money before you start making a profit. It’s important to research your market to make sure your customers will really pay for your product or service before you do this.Once you’re confident that they will, explore sources of funding to help with the costs of starting up your business.
Government schemes
You might be able to get help from a government-backed support scheme if you need some initial funding to test and develop your business idea.
Search for business finance using the finance finder tool to see which schemes you may be eligible for.
Get a bank loan
Once you can show that there’s a market for your idea, one option for funding your start-up costs is getting a bank loan. You’ll need to be able to:- give the bank realistic cash flow forecasts
- prove that you’ll be able to pay back the loan with interest
Watch a video on forecasting business finances, including sales, profit and loss, and cash flow.
The bank might require you to provide security against your loan,
like your house or car, in case you don’t repay. You should think
carefully about how much risk you’re willing to take on before you get a
loan or give any personal guarantees.
Find business finance in your area
using the British Bankers’ Association’s finance finder tool, including
business angels (individuals who invest in start-up businesses),
regional funds, government schemes and banks.
Selling shares
If you need more investment, you might be able to raise money to fund your growth plan by selling shares in your business. You can do this by getting friends and family to invest. However, if this isn’t enough you can look for sources of ‘equity funding’, including:- ‘business angels’ (wealthy individuals who invest in start-up businesses)
- ‘venture capital’ from companies who invest large sums of money in businesses that they think will grow quickly (known as ‘private equity’ companies)
- ‘crowdfunding’ (where a large group of people invest money in a business idea, usually via the internet)
- alternative sources of funding like ‘peer-to-peer lending’
You should get legal advice before selling shares in your business.
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II. Business loan videos
1. How to get small business loans from banks, private lenders and microloan lenders2. Tips for Getting a Small Business Loan from Joaquin Gallardo of Wells Fargo
III. Business loan ppt
1. How to Get a Small Business Loan Fast!2. How To Get a Business Loan with Bad Credit
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