I’m looking to use a broker to get a start-up business loan?
Posted April 16th, 2009 by admin 4 Comments »
pm asked:
I’ve done a lot of research and found out that a conventional banks will not give me a business loan unless I have a existing business and personal loans are usually maxed out around 25k which is a lot less than what I need(100k), I’m a homeowner and have a excellent credit history but still didn’t qualify for a home equity line of credit I guess they are just a thing of the past so I started to contact business loan broker that are willing to approve me for the amount that I need 100% unsecured but the have a large fee, Around 10% to 15% of the amount you are borrowing …so the question is are these brokers legit companies and is there any other option out there where it will not cost me 10k just to get a business loan???
I’ve done a lot of research and found out that a conventional banks will not give me a business loan unless I have a existing business and personal loans are usually maxed out around 25k which is a lot less than what I need(100k), I’m a homeowner and have a excellent credit history but still didn’t qualify for a home equity line of credit I guess they are just a thing of the past so I started to contact business loan broker that are willing to approve me for the amount that I need 100% unsecured but the have a large fee, Around 10% to 15% of the amount you are borrowing …so the question is are these brokers legit companies and is there any other option out there where it will not cost me 10k just to get a business loan???