Ok. so noboby on here started out using or appling for a small business loan? wow. Well i hope someone knows, please help...or i'll just have to sit down with the banker and hope he shoots me the real poop on them. thanks
This info may be out of date (but knowing how slow the gov't works it's probably still good)
SBA wont directly lend you money unless you are 'special'
(minority, female et cetera)
They do guarantee bank loans - but you have to be turned down for a loan first (that makes sense)
And they have an express loan (i think it's called "low-doc") that your banker can approve quickly without too much paperwork. That's probably your best bet.
The other things i would suggest is looking for a "micro-loan" If you need $25K or less, that's probably your best bet. And they will probably give you free business consulting with it.
Put the business in your wife's name (or make her a partner) and your chances of funding will increase.
And look for a Small business Development Corporation (SBDC) for more help - usually attached to a University
Thank you all and the more i think about it, the less i want to jump through hoops. I do have a very good plan.... i'm just not willing to put it before a banker and kiss butt or beg. And i'm not handicaped( why do they call it handicaped?, whats so handi about it??) or of minority or a woman.... so the deck is already stacked against me. And i ain't putting MY hard earned business into my wife's name. I'm always willing to do things the hardway, just as long as i hurrry up and do get it done. But thanks for the info, maybe something to do five or ten years into my business, not at the begining. Hope spring treats you all well !!