You may qualify for a start-up loan if your company is relatively new and not yet generating sales.
For this type of financing, lenders will often forgo traditional loan requirements if they see potential in your business
concept and plan, and the number of new jobs the business will create. For more information about start-up loans, read about
SBA loans
or contact
local lending institutions.
Who Should Apply:
Relatively new businesses with no sales
Business owners with good personal credit
Business owners with a good plan
Compare:
Advantages
Government often acts as guarantor.
Disadvantages
Equity participation may be required.
Some investors or private lenders may want ownership or other financial participation.
