Business Loans for Small Companies : Land One

in Forum: Startup Funding
Source of this discusssion: /articles/903/1/AT_LandingTheLoan.asp Page description: Business loans for small companies can make the difference as you get your startup business off the ground - we discuss keys to landing that loan.
Apr. 02 2008 at 5:48 AM
No Photo Posted by: MacGregorLending
 
Well written and comprehensive.  The only thing I might add is that the banks seem to be following a pattern of lending on this formula:
Unsecured loans: 10% of gross sales or 50% of net income.
This can give you a good starting point to know where you might max out in funding.  From that point, based on debt-to-income ratios and credit worthiness of business the loan amount could go up or down.


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