PDA

View Full Version : how do you get low interest government loans


hsieh
02-07-2009, 03:07 PM
how and where do you get low interest loans to start business?

bohiaa
02-07-2009, 03:09 PM
the research I have found, there is NO such thing.

hsieh
02-07-2009, 03:10 PM
a friend told me his friend got a low interest government loan to buy a storage facility. he had to use his house as collateral though.

NC Greenscaper
02-07-2009, 03:14 PM
Do a seach for SBA. Go to your closeth SCORE office. Find out where your local community college business development office is. check out this link http://www.sba.gov/index.html

hsieh
02-07-2009, 03:23 PM
also is it good to advertise in the yellow pages? i've already bought magnets to put on people's mailboxes.

hsieh
02-07-2009, 05:25 PM
the guy at the yellow pages company pointed out to me that the people who have the big ads stay year after year meaning they're working for them. i live in an area with about 150,000 population.

MowHouston
02-07-2009, 05:31 PM
Do a search on the forums for "Yellowpages". There is all kinds of people asking this week after week.

I'll tell you right now, I saw a post last week where everyone in the post said it isnt worth it. Zero to little response.

Of course the Yellowpages is going to tell you that they come back year after year. They want your money.

PROCUT1
02-07-2009, 07:14 PM
The government doesnt do the loan. A bank does and the government will "co-sign" it for the bank.

That worked up until a couple years ago. Right now youre not going to get a loan for a start up. Or for anything else for that matter.

Banks arent loaning money.

EagleLandscape
02-07-2009, 07:37 PM
I agree. I would put together a solid business plan, and shop it around to wealthy friends or people you have come in contact with. I am using private funding on a few deals right now. As long as you can provide the with a greater return than they would make in the market (which is not much right now) they should be able to bank you.

Ie: their return on a money market account might be 3%, but give them a 15% note for 3 years simple interest.

now thats a good investment.

Tommy Boy
02-07-2009, 07:46 PM
Look in the paper, right under the train for a post office jobs, and buy government land cheap! Waste of time you looking for a loan, go work for someone else first

NC Greenscaper
02-08-2009, 08:33 AM
The government doesnt do the loan. A bank does and the government will "co-sign" it for the bank.

That worked up until a couple years ago. Right now youre not going to get a loan for a start up. Or for anything else for that matter.

Banks arent loaning money.

That's not true. Don't pass bad scoop or misinformation. I just got a commercial loan for a piece of property. Took about two days to get it approved. Interest rate is the same as my house (5.5%).

jsw2008
02-08-2009, 09:42 AM
The government doesnt do the loan. A bank does and the government will "co-sign" it for the bank.

That worked up until a couple years ago. Right now youre not going to get a loan for a start up. Or for anything else for that matter.

Banks arent loaning money.

That's just CNN propaganda. If you have good credit and a way to pay back the loan, you can get a loan. If you have no business borrowing money (ie, bad credit, no job) then you won't get (and shouldn't get) a loan.

bohiaa
02-08-2009, 09:49 AM
That's not true. Don't pass bad scoop or misinformation. I just got a commercial loan for a piece of property. Took about two days to get it approved. Interest rate is the same as my house (5.5%).

Now I would like to see that!!!!!

Commercial rates are at 7 and some change, there's NO way in Hell you got a commercial rate of 5.5

you may have borrowed against your home as a personal, or an escro.
also on commercial you MUST pay 25% down, and it's only a 5 year note.

lets see the paperwork..........

EagleLandscape
02-08-2009, 10:53 AM
what are sba (advised by SCORE) loans running at now? 8percent?

Tommy Boy
02-08-2009, 11:47 AM
An SBA Loan may be a great idea for someone who needs capitol to grow, but if your just starting out, you need to have some of your own money invested first. Get 2 to 3 years of owner / operator under your belt, keep great books, show a slight profit and then you can almost qualify for anything especially if your are an LLC or Sub-s Corp with a TIN.

Unless you are a native American, Iraq war disabled prisoner of war vet, with a mixed Asian and African parent one of which grew up in the American Somian islands, blind in one eye, lesbian, trans-gender, pre-op trans sexual, voted democrat, fled Ireland during the potato famine, recently released by Somali Pirates, former or rehabilitated drug / alcohol abuser, grew up at Love Canal, displace Katrina family, rifted former government employee with a immediate family member who was awarded the Medal of Honor, you may just qualify!

Keep in mind all must apply to receive government loan assistance!

bohiaa
02-08-2009, 02:39 PM
Unless you are a native American, Iraq war disabled prisoner of war vet, with a mixed Asian and African parent one of which grew up in the American Somian islands, blind in one eye, lesbian, trans-gender, pre-op trans sexual, voted democrat, fled Ireland during the potato famine, recently released by Somali Pirates, former or rehabilitated drug / alcohol abuser, grew up at Love Canal, displace Katrina family, rifted former government employee with a immediate family member who was awarded the Medal of Honor, you may just qualify!

Keep in mind all must apply to receive government loan assistance![/QUOTE]


And that's the truth..........

LawnTamer
02-08-2009, 02:59 PM
I would not touch a government loan right now. Look at how Barack Obama just arbitrarily set a salary cap for CEOs of companies that had received TARP loans. The less Uncle Sam has his fingers in my business, the better off I will be.

So far as advertising in the yellow pages, it used to be great here for us. 10-12 yrs ago it was our best ROI. It is not anymore in our market. 10-12 years ago everyone here used the same yellow pages. Now there are 4 competing books, Yellowbook, Qwest Dex, and 2 others. So you would have to advertise in all 4 to get full coverage. The other factor here, I think, is internet. Everyone here has internet in their home, most have it at work, when people want to find something, I think they are more likely to just google it, rather than go dig out the yellow pages. We stopped advertising in the yellow pages yrs ago, it just wasn't worth it.

Jay Ray
02-08-2009, 03:13 PM
A few years back there was a skinny guy with wire rim glasses and a garish coat who sold a book on TV that showed you how to get free money, grants, and low interest money from the government. It seemed there were fountains everywhere flowing with money for the taking.

I figured welfare was the only way that it can be done, and the book would only make me $40 poorer.

If you've ever shown any gumption and willingness to work, but don't have money, it ain't likely the government will want to help you.

bohiaa
02-08-2009, 09:36 PM
A few years back there was a skinny guy with wire rim glasses and a garish coat who sold a book on TV that showed you how to get free money, grants, and low interest money from the government. It seemed there were fountains everywhere flowing with money for the taking.

I figured welfare was the only way that it can be done, and the book would only make me $40 poorer.

If you've ever shown any gumption and willingness to work, but don't have money, it ain't likely the government will want to help you.

I think that guy's anme was lesco, or something like that.

Jay Ray
02-08-2009, 10:36 PM
I think that guy's anme was lesco, or something like that.

That's it -- Matthew Lesko

dfdsuperduty
02-09-2009, 09:33 AM
An SBA Loan may be a great idea for someone who needs capitol to grow, but if your just starting out, you need to have some of your own money invested first. Get 2 to 3 years of owner / operator under your belt, keep great books, show a slight profit and then you can almost qualify for anything especially if your are an LLC or Sub-s Corp with a TIN.

Unless you are a native American, Iraq war disabled prisoner of war vet, with a mixed Asian and African parent one of which grew up in the American Somian islands, blind in one eye, lesbian, trans-gender, pre-op trans sexual, voted democrat, fled Ireland during the potato famine, recently released by Somali Pirates, former or rehabilitated drug / alcohol abuser, grew up at Love Canal, displace Katrina family, rifted former government employee with a immediate family member who was awarded the Medal of Honor, you may just qualify!



Keep in mind all must apply to receive government loan assistance!


Those are some of the best qualifiying stats i have ever laid eyes on lets not forget that you also must be an illegal alien that is on welfare and has 10 kids that were born in the US and not one can speak english so now we must provide teachers at the local public school to teach them how to speak english because thats your natural born right as an illeagal citizen of the US

Tommy Boy
02-09-2009, 08:15 PM
Those are some of the best qualifying stats i have ever laid eyes on lets not forget that you also must be an illegal alien that is on welfare and has 10 kids that were born in the US and not one can speak english so now we must provide teachers at the local public school to teach them how to speak english because that’s your natural born right as an illegal citizen of the US

Superduty, my, my, my you must be a graduate of government schooling (Public Education) who is politically insensitive and culturally challenged we are!
Please, they are undocumented workers, the term you used is offensive and will not work in today’s era of correctness. I mean in a country where 2 Border Patrol Agents are put in Prison for shooting a Tonk as he was fleeing back across the border while shooting at the BPA’s. Can’t we all just get along?
I will correct my original qualification list so as to not offend you:

Unless you are a native American, Iraq war disabled prisoner of war vet, with a mixed Asian and African parent one of which grew up in the American Somian islands, blind in one eye, lesbian, trans-gender, pre-op trans sexual, voted democrat, fled Ireland during the potato famine, recently released by Somali Pirates, former or rehabilitated drug / alcohol abuser, grew up at Love Canal, displace Katrina family, rifted former government employee with a immediate family member who was awarded the Medal of Honor, {added per request} undocumented worker traveling outside their native country, government cheese eating, stimulus plan spending, no tax paying, person receiving a tax refund when you have NEVER paid taxes, Appalachian American, single front tooth smiling, dyslexic crosseyed, Obama “Yes we Can” sticker on your ZTR Rider, midget porn watching, Thinks the Obama Recovery Plan is a 12 step program (and has about the same rate of success), recalled peanut butter eating, illegal alien that is on welfare and has 10 kids (to 3 mothers) that were born in the US and not one can speak english so now we must provide teachers at the local public school to teach them how to speak english because that’s your natural born right as an illegal citizen of the US, allowed to take the drivers license test in any language other than English, tooth fairy believing, sister loving, no child support paying, no mortage paying, you may just qualify!


Lets go to Canada :canadaflag: :cry:

MC Handy Man
02-09-2009, 08:26 PM
Go to SBA.com, they have links to funding for small business operation. They have differant links I beleive on the top nav bar. Dont beleive in grant either, they are a bunch of horsh&#.

JeffW0011
02-09-2009, 08:47 PM
how and where do you get low interest loans to start business?

If you're a minority, an illegal immigrant, a legal immigrant just off the boat from India or some other third world shithole, homesexual or recovering drug addict or rehabilitated ex con they probably have a government funded program to get you on your way.

If your a caucasian and the offspring of 7th generation immigrants, many of whom fought and or died in wars, helped build this country, and contributed into the tax system the last 150 years....well then you have absolutely no chance of obtaining any type of low interest loan to start your business...

dfdsuperduty
02-09-2009, 09:15 PM
and when you call with a question on how to fill out that government loan application don't forget to press 1 for english

hvphotog
02-10-2009, 03:16 PM
Join your local Chamber of Commerce there you will find information and help regarding any loans that may or may not be there for someone starting out in the industry you are choosing.. For small biz loans where the number of employees is less than 20 you will find them hard to come by. Look into all types of bank loans such as personal. Smaller more localized banks in given areas are more prone to lending money locally for small business if you open an account with them. Most small hometown banks were not effected by the mortgage crisis being they did not lend risky loans and or did not buy reduced risk rate loan packages.

So try local Chamber and local banks..

justanotherlawnguy
02-11-2009, 03:22 PM
Superduty, my, my, my you must be a graduate of government schooling (Public Education) who is politically insensitive and culturally challenged we are!
Please, they are undocumented workers, the term you used is offensive and will not work in today’s era of correctness. I mean in a country where 2 Border Patrol Agents are put in Prison for shooting a Tonk as he was fleeing back across the border while shooting at the BPA’s. Can’t we all just get along?
I will correct my original qualification list so as to not offend you:

Unless you are a native American, Iraq war disabled prisoner of war vet, with a mixed Asian and African parent one of which grew up in the American Somian islands, blind in one eye, lesbian, trans-gender, pre-op trans sexual, voted democrat, fled Ireland during the potato famine, recently released by Somali Pirates, former or rehabilitated drug / alcohol abuser, grew up at Love Canal, displace Katrina family, rifted former government employee with a immediate family member who was awarded the Medal of Honor, {added per request} undocumented worker traveling outside their native country, government cheese eating, stimulus plan spending, no tax paying, person receiving a tax refund when you have NEVER paid taxes, Appalachian American, single front tooth smiling, dyslexic crosseyed, Obama “Yes we Can” sticker on your ZTR Rider, midget porn watching, Thinks the Obama Recovery Plan is a 12 step program (and has about the same rate of success), recalled peanut butter eating, illegal alien that is on welfare and has 10 kids (to 3 mothers) that were born in the US and not one can speak english so now we must provide teachers at the local public school to teach them how to speak english because that’s your natural born right as an illegal citizen of the US, allowed to take the drivers license test in any language other than English, tooth fairy believing, sister loving, no child support paying, no mortage paying, you may just qualify!


Lets go to Canada :canadaflag: :cry:
That about sums it up. Did someone mention the SBA?
SBA:laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh ::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh::laugh:SBA is the biggest joke, good luck with that one as well..............