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Forum
-> Household Management
-> Finances
amother
OP
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Mon, Dec 18 2023, 10:03 am
Any help would be greatly appreciated. I've tried everything and so far it's been only dead ends.
Anyone know someone who specializes in this?
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amother
Ebony
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Mon, Dec 18 2023, 10:05 am
Do you have a business plan and good credit? Have you tried going to a bank or applying for an SBA?
What kind of loan are you looking for?
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amother
OP
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Mon, Dec 18 2023, 2:05 pm
Thanks. Yes. We've tried them all. I need someone who is more creative than the typical since the business is less than a year old and that's where I think the issue might be. Credit score above 630
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amother
Chambray
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Mon, Dec 18 2023, 2:09 pm
amother OP wrote: | Thanks. Yes. We've tried them all. I need someone who is more creative than the typical since the business is less than a year old and that's where I think the issue might be. Credit score above 630 |
You can try one of the literally tens of spam calls and texts I get a day about business loans. Somehow they all got my number from my business website.
In all seriousness, you might do better with a personal loan or a credit card loan with 0% apr. 630 is not a very high score so that may contribute to not getting loans
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amother
Antiquewhite
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Mon, Dec 18 2023, 2:11 pm
amother OP wrote: | Thanks. Yes. We've tried them all. I need someone who is more creative than the typical since the business is less than a year old and that's where I think the issue might be. Credit score above 630 |
How about trying the Hebrew free loan society?
They have a small business loan?
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amother
OP
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Mon, Dec 18 2023, 2:20 pm
amother Chambray wrote: | You can try one of the literally tens of spam calls and texts I get a day about business loans. Somehow they all got my number from my business website.
In all seriousness, you might do better with a personal loan or a credit card loan with 0% apr. 630 is not a very high score so that may contribute to not getting loans |
Lol I get those too.
My score is over 630 I just wrote it because I think that's the minimum for approval. But it's under 700.
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amother
OP
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Mon, Dec 18 2023, 2:21 pm
amother Antiquewhite wrote: | How about trying the Hebrew free loan society?
They have a small business loan? |
Thanks. I might reach out
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Arep
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Mon, Dec 18 2023, 2:42 pm
You definitely need at least one year of filed business returns for a traditional business loan.
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notshanarishona
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Mon, Dec 18 2023, 2:45 pm
The only way to get a loan without insane interest rates is by waiting patiently, filing tax returns, building your business credit, and borrowing as much as you can off the books (ie gemachs) to make a profit that you can demonstrate and then get proper loans.
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amother
OP
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Mon, Dec 18 2023, 8:22 pm
notshanarishona wrote: | The only way to get a loan without insane interest rates is by waiting patiently, filing tax returns, building your business credit, and borrowing as much as you can off the books (ie gemachs) to make a profit that you can demonstrate and then get proper loans. |
Thanks. Do Gemachs give loans for businesses?
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