How do I start a finance company?

How do I start a finance company?

Term loans can be difficult to get if you haven't been in business for very long, especially if you're trying to apply with a traditional commercial lender. To get favorable terms, you typically need to be in business for at least a year or two, or sometimes more, have a good credit score, and maintain strong revenues.

Where can I get funding for my startup?

Qualified business owners can apply for these loans through SBA-approved banks, credit unions, non-profit organizations, and Certified Development Companies. SBA loans have similar documentation requirements as banks, as well as similar timelines for approval and funding.

How can I start a business with no money and bad credit?

SBA loans can range from microloans to much larger fund amounts — even up to millions of dollars, sums most small businesses don't need to get started. In fact, according to the SBA's 2012 study, less than 3% of single-person startups need $50,000 to $99,999 to start a business.

How can I get a 2 million dollar business loan?

Where can I get a $2 million business loan? Your business can apply for a $2 million business loan from a bank, credit union or online lender. Banks and credit unions typically have strict requirements — like higher minimum revenue and more time in business — than online lenders, but may offer lower rates.