Question
Will it be easy for me to get approved for a $300,000 small business loan? I have a great credit score.?
I also have two cars(infiniti) paid for, and an apt. paid for. Plus about $150,000 in bank.
4 weeks ago - -1 answers
Best Answer
Chosen by Asker
Most business loans are not approved on the basis of credit alone. Banks usually require you prepare a solid, realistic business plan and then they will evaluate it to see if it will be a good investment, or a bad risk. If you use a large portion of your $150k savings, that will certainly help as the overall percentage of capital funds provided by the bank will be smaller (lower debt to equity ratio).
by mindcrime828
4 weeks ago
Asker's Rating: 
Other Answers
Not without some kind of collateral, but it's possible,
by Common Sense- 4 weeks ago