Thread: Starting a buisness

I have a awesome idea for a small buisness in my area. I have passed the idea around and people think its good manly because there is nothing like it around. I can go on and on about it if I wanted to . My question is how hard is starting your own small buisness and also is it hard to get a small buisness loan as the econmy is now . My last loan was 7 years ago . I edited this so people can more understand why i started this thread .Any help is appreciated

It's pretty easy to start a business. But i'm not sure what is the requirement for your area. For example, in California. All I would have to do is go to the city file for a Business License and a reseller permit as I resell goods, and also a fictitious name (optional in some cases). As for applying for a business loan, that is something you will have to talk to the bank about.

You probably have to graduate high school first.

In all seriousness, if you do not know how to apply or procure a loan. You probably don't have the skills or background to be running a business.

I have had loans know the process etc. I am more talking about is it hard to get one now with the economy . The last loan I had was 4 years ago . when I posted this I went someone is going to take it like I don't know about loans. I am looking at people who have started or is trying to start a business lately and know how challenging loans are and if businesses are hard to start keep up and going right now. I owned a car dealership up till September of last year.

You've owned a dealership up until sept of last year and you're asking questions about getting a business loan ? Did you never take out any loans for your dealership ?

Otherwise, good luck with your idea !

typical answers here anymore. Nobody wants to help just be sarcastic.

Anyway, loans are not as easyto get as they were. Im sure its going to depend on how much you are going to need. also, you can have good credit, but do you have any debt right now?

Originally Posted by Zamochit

typical answers here anymore. Nobody wants to help just be sarcastic.

Anyway, loans are not as easyto get as they were. Im sure its going to depend on how much you are going to need. also, you can have good credit, but do you have any debt right now?

These threads come up daily, if the OP spent 10 minutes perusing he would find the answers he seeks.

Originally Posted by fivehundred

You've owned a dealership up until sept of last year and you're asking questions about getting a business loan ? Did you never take out any loans for your dealership ?

Otherwise, good luck with your idea !

I have but my last loan evermade in my family was 2005 when Katrina hit and destroyed everything I did not take another loan after that and that was also 7 years ago and the economy has taken a turn for the worst

Originally Posted by Zamochit

typical answers here anymore. Nobody wants to help just be sarcastic.

Anyway, loans are not as easyto get as they were. Im sure its going to depend on how much you are going to need. also, you can have good credit, but do you have any debt right now?

I do not have debt and do not want any . It would not be a major million doller loan really just wanting around $150,00
P.s thanks for actually trying to help

Here we go again.

What kind of "dealership" did you own if you a)Can't get 150k together, and b)Don't know how to get a loan for that amount?

I'm sorry, usually I would love to help, but you have given us no info other then "you have a great idea and need money" which as said above, is pretty much daily on L4P in recent months. Starting off with "I can go on and on about it if I wanted to", but then not saying anything will make people write you off right away. It looks like you don't think we are worth the time to tell us about your amazing idea, yet you want us to take the time and guide you.

More people would be glad to offer advice, but from what you've posted so far, you look like another teen age kid with big dreams that wont ever follow through. After a while people on here just get tired of it. No, there is nothing wrong with asking, and seeking out information is never a bad thing, but if you want people to take you seriously, you need to show you deserve it

Just like a bank, many members on here want to see a little more of a business plan.