Small Business Loans
You're after a small business loan probably for one of these reasons:-
The best place to get a small business loan is still a bank. Due to their size banks are able to offer you the best interest rates. Obviously getting a loan from a bank can be harder these days due to the economic slowdown and the fact that in the past so many banks made bad loans and got stung for it. Therefore you will need to jump through the banks hoops in order to show you can actually pay them back. If you're going down that route then simply type bank business loans into your favorite search engine and explore your options. Don't just go with the first option - look at all the figures and build them into your business plan. A lot of people are completely put off by banks and don't even try - then end up paying way over the odds in interest fees - don't be shy/stupid - the worst thing the bank can say is "no"...unless you are planning on starting some kind of shady business of course!
If you can show past profitability with a previous venture then a bank is going to be more willing to lend money to you - as one of the most critical factors in a business is the management team.
Another obvious statement is that the more money you want to loan the harder it is to obtain a loan - that stands to reason..but we thought we'd just point out the obvious! So if you can get by on a smaller amount of money then go for that amount of money.
You might decide to write several different business plans based on the different sized loans you can get for your business. Clearly the bigger the loan should equate to bigger overall financial profits in the long-run..otherwise what would be the point in asking for a bigger loan that would make a smaller profit compared to a smaller business loan...that just wouldn't make any sense at all...more risk should equal more potential profits. Note the word "potential"...until you've actually gone into business - all your numbers in your plan aren't cast in stone - they are merely you're best guess - of course you have some structure of how you came to those figures - but at the end of the day they are still your best guess.
If you have tried every bank under the sun and still cannot get a loan for your business then you need to look at other business funding methods.
Another question you should ask yourself is - "Does my small business really need to be loaned money" - take a look at business bootstrapping for other ways of keeping your business going.
Can you cut corners on your advertising budget? Here are some great free ways of advertising your business on the cheap.
Maybe your business is just to expensive to get into - if you really want to start up your own business - why not look at these low cost start up businesses.