Is it possible to receive a loan or financing for a small business if I do not currently have a job or credit?

Is it possible to receive a loan or financing for a small business if I do not currently have a job or credit?

It may be impossible. Nobody wants to float a loan if you have no way of paying it back. Many small business people start with asking for loans from family members first.

not in America.

you start a business with capital -- that's money you saved from your job and didn't spend.

No there isnt. Even with a good business plan I doubt that they would give it to you. I know because I have thought about doing the same thing. The best way to get money would be from family, but even then that kind of money would be hard to get.

depends, if the business look reli promising you can get people to "sponser" you. but other wise no..go get a job an try then...

Sorry. it will never happen. I wish I could be more encouraging. I started my own business and went through all
of that. The only way is borrow from someone who trusts and believes in you. Good Luck

Maybe from a relative or good friend that trusts you. Not from a bank or credit union though. You have to earn credit by evidencing responsibility in paying timely, and must have a source of income.

A small business loan is one of the most treasured commodities in the business world. It is still very hard to get despite the claims and promises of banks, credit unions, and other lending institutions that they want to help American small<!--business to survive and grow. In fact it sometimes seems that banks and other lenders want to see small businesses fail and only support those that survive the battle for customers, revenues, and finances during their first two years.

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Getting a small business loan is most difficult during these first two years, when most businesses face a myriad of challenges involved with not only opening their doors, but hiring and training staff and meeting the demands of customers, clients-->suppliers and vendors. The main reason that the banks use for not granting many loans during this period is like the same reason that a student can?t get a job coming out of school. They don?t have the experience.

Any financing company will want you to invest a certain percentage in your own business. You need to have a strong, well laid out business plan and do alot of research. If you don't have a job, that might be okay. If you have no credit, then they have no idea if you pay your bills on time and will most likely not take that risk.

But having alot of experience and contacts in your field could give them incentive.

I would call the local Small Business Administration and meet with someone from thier office. They can help you draw up a business plan and know of traditional and alternate financing that may be available to you.

I can show you a way that is very affordable to start a great business with us. If you are serious contact me at live4_2day@yahoo.com