Need a personal loan or a small business loan very soon?
Answers:
If you don't owe lots of money and your credit is good and you
can budget yourself and trust that you set a deadline within a year or 2 then this maybe can help you:)
Credit card co. offer 1 yr interest free if you get they're card.
If you can get 3 or 4 cards that have 1 yr interest free and get the
cash advance from those cards then that can be a big lump sum
without interest for 1 yr better than a loan from the bank. Make sure to calculate it so that you can pay back within as much a possible. After the year either balance transfer to another card interest free or consolidate your bills to pay little by little.
I'm thinking of a number,, it's between 1 and zero,, it's the chance you have for $75K with $40K collateral
Maybe this would be a good time to write a business plan and also consider all options.
eg: bring in a rich partner
Good luck.
Your time frame just won't allow for conventional lending. There are "Hard Money" lenders who will give you the cash but will want to see a pretty fit business plan and you'd have to own the location not lease to show some sort of justifiable equity. These lenders will also have a shorter payment window (like 12-18 months) in which ALL fees must be paid in full lest you incur 'monster' fees. Sounds like you should restructure and "plan" for the future. These 'deals' come and go and I promise there will be another bakery somewhere else. Form a LLC or S-corp in the meantime by simply filing and paying online with your Secretary of State office. Once you have a tax ID number (free) banks will start giving you credit in the name of your corporation (not affecting your own credit score) and you will be financially stable to make a true investment... with other peoples money. With your credit rating on the uprise it sounds like you could be financially free within one year with money to start any business you like. Just open your LLC soon to receive those credit apps from eager lenders. There are businesses you can contact online that will walk you step by step through the process I've just explained. Good luck and send me an old fashioned glaze when you open your doors!!
This would be a great fit for a new person to person lending network. You can get up to $25,000 per loan, and can list postings for a number of loans. Join a group like the one below for a better chance of getting funded and for some tips along the way.
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