Anyone know how or where to apply for a buisness loan?  Yeah my spelling is bad but I just woke up with this question on my mind.

Most people try banks.

how much you need, ill try an get it paypal'd to you later this afternoon

Look up Business Development companies in your city/state. Not only can they give you loans, but they also have great resources for self assesment and business plans. I'd try an organization like this first.

Hey Dave.. if nothing works out here, I have a friend in Boston who is a Venture Capital person. Really nice guy. Told me he'd offer me student loans at a lower percentage than I can find them through a private company, if I want them. Let me know if you want me to put you in touch with him. Also, I should have a job soon, which is good.

My dad is a loan officer...  I'n not sure how it works though.

There are a lot of places that you can go for loans, but I have to tell you it will be difficult. I opened up my own business about 8 months ago, and that was definitely the hardest part. Most banks will not loan you money until you have been in business for at least a year. SBA is easier and more lenient from what I hear, but it is a tedious process.

To apply for the loan, keep in mind that you will have to provide a personal guaruntee unless your business has a good amount of assets to borrow against- although they may still require personal guaruntee. Also, for SBA (and most banks I believe) you need to have a well-formatted business plan illustrating projections of profit, cost, overhead, etc. (See: http://entrepreneur.com/money/index.html - this web site is an amazing resource for the small business owner)

As far as places to go, there are a lot of banks willing to check you out- you will have to provide a personal credit report and company documentation (certificate of incorporation, bank statements, - varies from state to state).
BE CAREFUL with applying- if you apply for a bunch of loans, they will show up on your credit report. Banks can see on your credit report all of the inquiries that show up, and that works against you. Your best bet is to got to MyFico.com or freecreditreport.com and get your score first- then meet personally with a loan officer, so they can give you a better assesment of what your chances are for landing loans.

What kind of business did you have in mind? Just remember that you better love/believe in it, because there will be times you will want to smash your face into a brick wall wondering why you didn't just get a job like everyone else (I do that about twice a week now- down from 8 )

But I have gone through a lot of the headaches myself, and if you want to pick my brain, I'd be happy to help out.  

Thanks for the info.  It's for my soon to be ex-wife.  We are getting divorced and she wants to buy a resturant that her sister used to own and move away from me.  I'll check out the sites you mentioned Casi.

Since we have been married she has not worked.   Hmmm about 4 years, her current job is house wife.  Which is probally one of the hardest jobs in the world.   Taking care of our son and doing most of the house work.

Will check out what our bank say's.  Maybe it will be easier since she is buying a buisness and not starting one 

good info in here.. i am absorbing.. i am trying to start my own business.. now only if i was not so lazy.

I'm doing the same thing. My friend and I started a computer repair shop about 4 months ago. I've had to work on the side to help fund it and I really don't want to do that anymore  .

I would think that there are many many ways to raise a business loan in the states, there are in Europe for sure. The trick is to research all aspects and all sources. I recently took proffesional advice on raising money for a business venture and the result slightly surprised me. The best bet was not the cheapest loan (in interest trerms)  :cookoo:as some types of loan are tax allowable and some are not which meant that a slightly more expensive loan worked out a lot better. I have still not decided about the venture but the moral is clear......

     LOOK BEFORE YOU LEAP! 

Oh! and by the way, if you go ahead, good luck with your venture.

No one can advise you if you should or not. You have to do the math and the hard-headed thinking, business plan etc, all I can say is don't get to my age and think back and say "I wish I had done that...."

The one thing worse than regretting what you have done in life (which is pointless) is regretting that things you did not do.