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Old 25th August 2008, 08:54 PM   #1

Join Date: Aug 2008
Posts: 1
Default Small Business Loan?

hi, hopefully someone on here can help me, iv been searching the web for info and just keep coming up against brick walls

my friend and i want to start up a photography studio together. we are both 21 and because of that we dont have any assets or credit status. we dont really want to have investors, because we both have a really clear idea of what we want, and how we want to do it, and dont want to change our plan just to increase profit for them etc. we need a quite substantial amount of about £20,000, so things like princes trust loans are out. all of the grants iv found need you to put forward at least some of the funds, which we just dont have. neither of our families are able to help us out financially, or with assests for loans.

iv been looking at small business loans from high street banks, but i cant find any information on if we would actually quilify because we dont have a credit status etc.

does anyone have any ideas, or know what we would actually need to get one of these loans, its driving me up the wall that i cant find any information. thanks.

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Old 21st September 2008, 09:17 PM   #2

Join Date: Sep 2008
Location: Orlando
Posts: 1
Default Are you looking for a loan in the United States?

If you live in the United States and are looking to start a business, the first place I would start is your local S.C.O.R.E chapter. S.C.O.R.E used to stand for Senior Core Of Retired Executives but I don't think they refer to themselves as seniors anymore because they get volunteers of all age groups.

Anyway, they will point you in the right direction from writing a business plan to unique government loan programs to stimulate small business development. Here is just a sample of some interesting loan programs to look into:


SBAExpress Loans provide small business loans of $250,000 or less. The SBA provides a rapid response through its PLP processing center in Sacramento, Calif.ó within 36 hours of receiving the complete application package. Lenders use their own procedures to approve and service the loans.


SBALowDoc is the Small Business Administrationís quick and easy small business loan program that provides a guaranty on small business loans of $150,000 or less. You complete the front of a one-page business loan application. The agency processes completed loan applications within 36 hours.

Hope that helps

Last edited by kstockstill; 21st September 2008 at 09:22 PM.
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Old 25th September 2008, 02:59 PM   #3

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Well this is not encouraging for me at all. So far I have also made a lot of searches to locate service providers or financial institutions who can help me finance my business but as far as the online searches are concerned most of the facilities seem to oriented for residents of UK or US. Maybe there are not many sites which talk about the other countries but can someone help me find a site like that, or it would be even better if you can tell me here itself how can I arrange to avail a business loan in my area. If I expect to get a suitable answer I would proceed with the necessary details.

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Old 26th September 2008, 07:42 AM   #4

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Posts: 6

The US and UK banking Laws are very similar. We work with banks and investors from all over the world - and a third of them are from the UK. Unfortunately, based on the information you've given - you will not qualify for a loan without equity back up. Since you are not interested in investors - your only option is to ask friends and family to lend you money.

That's the reality - sorry


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Old 27th September 2008, 08:13 AM   #5

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i dont think thats possible, if you dont have any credit score and family canr pay for collateral, then either go to a goos financial adviser or try starting at a very small scale. that would be the most intelligent thing

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Old 5th October 2008, 01:29 PM   #6
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You are going to have a hard time selling this to a bank. I recommend starting out small, and then raising the money through your services.

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Old 21st October 2008, 01:25 AM   #7

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You have to work your way up. Start saving up for it, start little then make your business grow.

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Old 21st October 2008, 11:32 AM   #8
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We too are gaining massive profit and want to expand to the next level (Global consumer market / expanding to add more advertising options including market level testing) but require some heavy duty funding. Return is not an issue.
We're international so which way should we turn?


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Old 29th October 2008, 11:46 PM   #9

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There is no other way instead, you have to earn money by your services. You might be facing problems in the beginning, it'll be fruitful in the end.
Good Luck!

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Old 17th November 2008, 04:42 AM   #10

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you are looking for a loaner in the USA. there are lots of them available online. They offer you the best and you are given a lot of choice

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