Suitable Loan for Approximately $10,000

[joohang]

I am thinking about opening a home-based business and need about $10,000 to get started.

I thought about going to my bank and ask for advises, but I thought I'd ask for more suggestions from you ATOT folks. What kinds of credentials would I need for a such amount loan?

 

[SinMen]

Try SBA (Small Business Administrations?) first. They will be able to give you more help.

 

[joohang]

Who are they?

If they are specific to US, it's no good because I'm in Canada. If you briefly describe to me what they do, perhaps I could search for a Canadian equivalent to that organization.

 

[Loggerman]

Depending on where you live,I'd try a Credit Union.They seem easier to deal with than the banks.The C.U. is there to help you,while the the banks just want profits:disgust:

 

[joohang]

Is credit history a major factor? Because I only got one year of credit history and it's not stellar either. Carried balance for quite a while.

 

[prodigy]

It doesn't matter if you carried a balance, as long as you paid at least the minimum payment on time each month, your credit is fine.

 

[Cyberian]

Also see if S.C.O.R.E. has a Canadian counterpart for advice.

 

[Emulex]

you could charge it to your credit card i spose. 1 year of perfect payment history is enough to get a citibank card or two for $10k.

I pay like prime+0.9% on mine. Sounds like a bad idea to get a loan like that. Maybe you should consider an investing partner?

 

[bunker]

Check out American Express' web site. I remember seeing some commercials a while back from them about helping people start their own businesses.

 

[Zorro]

Bank Robbery

 

[SinMen]

SBA is only in USA. But they have people start up small business.