Getting a business loan

Discussion in 'Business Operations' started by Integrity LC, Jan 13, 2008.

  1. Integrity LC

    Integrity LC LawnSite Member
    Posts: 35

    I am writing a business plan now and am planning to apply for a 10,000 loan for advertising, some new equipment, 2 strokes, hand tools and what not, i have a business partner that has great personal credit, although the problem is I dont have the greatest credit. How much will this affect my business getting the loan I am looking to get?


    Kind of new at this and just need a couple things answered.


    Thanks,

    Doug
     
  2. willretire@40

    willretire@40 LawnSite Bronze Member
    from VA
    Posts: 1,387

    You dont need a business plan to apply for a $50k line of credit. Go to your local bank and get approved. Also use dealer financing for equipment. They should have good deals right now.
     
  3. J&R Landscaping

    J&R Landscaping LawnSite Fanatic
    Posts: 5,096

    I was told at my bank I you had to be in business for 2 years to get any kind of loan or line of credit with-out jumpong through a lot of hoops.
     

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