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Goverment Small Business Loans with NO CREDIT

Discussion in 'Starting a Lawn Care Business' started by Piscitelli Landscape, Jan 22, 2010.

  1. Piscitelli Landscape

    Piscitelli Landscape LawnSite Member
    Messages: 51

    Ok we have all heard how the goverment gives away Millions if not Billions of dollars every year in Small business loans and grants. I have heard of loans to buy new equipment if you can show you employ 2 people at least etc.

    I have searched the internet but and asked around but no one seems to have any info on these programs. I want a business loan that doesnt look at my personal credit I need to obtain a loan for new equipment and general business stuff. I dont know if i am not looking in the right places or people just want to keep the "good" info to themselves. I really need to get a business loan and cant afford to do it on my own credit and I have just incorparated and therefore I have NO business credit. I KNoW these programs are out there and I hear of how millions of dollars each year are wasted just because people dont apply for it. SO if somone could tell me where to apply or look. I would be very grateful. Thank you.
  2. echeandia

    echeandia LawnSite Bronze Member
    Messages: 1,131

  3. capekev

    capekev LawnSite Member
    Messages: 27

    I have looked into government loans, and what I learned is that you could collect cans faster than get a grant from the government... I heard you would have a better shot if you were a women so maybe put the business in your wife's name and give that a shot.
    Good luck.
  4. bohiaa

    bohiaa LawnSite Fanatic
    Messages: 5,220

    Get ready to Jump through a ton of hoops.

    the government doesn't loan money.
  5. SangerLawn

    SangerLawn LawnSite Senior Member
    from indiana
    Messages: 736

    Maybe I am wrong but…this looks more like a government bail out question then a grant question? You been in business for at least 4 years with some real nice equipment? If you need to replace your equipment and don’t have the money shouldn’t you be raising your rates to plan for that kind of stuff?

    Honestly not trying to be a smart a$$ just wondering?

    I wanted to point this out because of all the people saying they can go into business with extremely low rates. When we try and tell them to plan ahead they say we don’t know what we are talking about.
  6. echeandia

    echeandia LawnSite Bronze Member
    Messages: 1,131

    All government backed loans require anyone who owns 20% or more of the business to personally guarantee the loan. A bank makes the loan. All the government does is vouch to pay back part of the principle should the business fail to make good on the loan.

    There are no grants for starting or expanding a landscaping businesses.

    Start with the link I provided above and call them. They will get you the help you need to pursue the loan you are seeking.

    Good Luck.
  7. ProcsLC

    ProcsLC LawnSite Member
    Messages: 132

    There are no grants for starting or expanding a landscaping businesses.
    Good Luck.[/QUOTE]

    This is not entirely true... The government does back loans thru banks if you are qualify thru the banks terms... However, there are grants available out there for ANY type of small business but you need to go thru a ton to get them... I.E. locate your business in a really crap neighborhood, employ a ton of disabled people or veterans or what not... OR you can bid on government contracts and receive grants AND work... If you only listen to the SBA, then you will never find one government grant out there.. SCORE is another waste of time if you go to your small business development office in your area because SCORE is made up of people who USE to be in business and know the "only ways" to get money for a business from 50 years ago... If you want to find out more about grants in your are and what you can have your business do to meet these guidelines then you need to go to your local COmmunity Development Office and put down the Lesko books... They write new grants everyday, I use to be a grant writer in another life and know there is actual money out there, you just need to know where to start and thats with your local CDC office...

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