Forums: Discussions for entrepreneurs and small business.

How are you? I'm well. I have a startup loan inquiry.  I'm working on a business plan for a poetry themed giftshop. After checking the numbers I'm wondering whatsize laon will be best.  Startup inventory and equipment  is equal to $46k.  Wages, rental, and all possible expenses for first 3 years  is equal to $190,000 but for 1st year is $71k. I'm unsure of how much to ask for. Then I'm also unsure how long the loan will be for and at what interest rate. Any help or advice would be appreciated.

 

Thanks

 

 

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Are you already searching in search engine with keyword "loan low interest"?

Regards,

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Ultrabook Notebook Tipis Harga Murah Terbaik

Who are you looking at getting the startup loan from?  A bank?  An individual?  A loan shark?

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The length of time you have the loan will be a factor of how much money you take and your monthly repayment structure that you will define with the bank / loan company etc.

How much you take really depends on your business strategy - at what point do you estimate breaking even, how much are you re-investing in the business etc.  

Keep in mind that even though you say ' all possible expenses for first 3 years ' there are always additional unforeseen costs to a new business that should be somewhat taken into account. 

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Gary Barzel - Manager of Business Development
FastUpFront - Business Loans and Working Capital
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Great points GaryBarzel! There are a variety of factors that you'll need to consider when determining how much startup capital you need. Obviously, your business plan should outline how much revenue you expect to generate and this can be used to structure a repayment plan.

The first thing I would do, is talk to a bank or other lending institution. They should be able to answer any questions you have and help you determine some of your options.

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I have noticed that the bank always see the ROI of your business irst before they give you loan.

 

thank you

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Well done ,learn more 

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Let's face it, getting a small business of the ground can be tough. Sometimes you need more operating capital in order to drive your business to success. Interest only loans may seem attractive because initially you only repay the interest. However, once the initial loan period is up, the monthly payments increase. If you really want to see the costs associated with borrowing money, Let's calculate an interest only loan.

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Factoring Service

I am very agree with bato , it is so hard to run my little business by myself . i have to do every thing alone . 

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cellphone accessories and replacement etc .

Many banks have term-loan programs that can offer small businesses the cash they need to operate from month to month. Often a small business will use the cash from a term loan to purchase fixed assets such as equipment used in its production process.

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Thanks
Ricky Mik
All about Home Mortgage