• at July 26, 2018

    Hey all, hope you guys are doing alright. Listen, I’d appreciate any advice on not only getting a small business loan, but also how to get approved for one. I’d really like to start up a small business but I have tried the bank and I got turned down.

    I’d like to know if there’s anything I should do or try to at least give me a better chance of getting the loan. Have any of you been in this position before? If so, what happened and did you get approved eventually? I’m desperate, so any advice is appreciated. Thanks you guys!

  • at July 26, 2018

    Can you offer more information? Why did the bank turn you down? What kind of business do you intend to start and how much were you looking for? Several factors can cause you to be turned down by a bank, but that is not the end of your dream. Banks are not the only places you can get loans from.

  • at July 26, 2018

    I once tried to get a business loan from my bank and got turned down too. My financial situation at the time (as it is, even now), was not in a good way and they figured I would have trouble paying it back. They were right about that, LOL!

    I tried another couple of places and didn’t have much luck either and I pretty much gave up. Somehow, stuff came up and I moved on and never bothered to get a business loan again.

  • at July 26, 2018

    The bank turned me down because I didn’t have enough savings in my account. I’m also currently unemployed, but the loan I wanted was not a lot and basically very simple.

    I wanted to start an Internet business. I was reading and researching stuff and rather than looking for a job (I still am, by the way), I thought I’d try and work for myself as well. I would be my own boss.

    I want someone to build me a website and help me promote it and also help me build up a social media presence. I asked for 10 grand but I got turned down (damn banks!)

  • at July 26, 2018

    Why do you want to spend money on paying someone to build you a website? Nowadays, it is very easy. You don’t need to know any HTML or any of that other nonsense nobody understands, lol.

  • at July 26, 2018

    Well, I know you are right, but if I did it myself, I would probably screw up everything! I figured the best thing would be to let the pros handle it, build it for me, set me up and then I could take it from there.

  • at July 26, 2018

    Ah, I see, but I still think you are making a mistake going about it that way. But for what it’s worth, the bank is not your only option ya know! There are other places you could try, assuming you are still interested in this loan for your business plan.

    Don’t get mad at me, but I think you are wrong to waste money on building a site when you could do it yourself, but hey, that’s me.

    Anyways, I once got financial help from Thinking Capital and they were not only helpful, but gave me a lot of great advice that I never even knew. You could try them, but there are also other places.

    Forget about banks, especially in your situation. Even if you don’t get your small business loan, at least they can give you advice on what you can try to do.

  • at July 26, 2018

    Thanks for that! I really appreciate this advice. You said there are other places too?

  • at July 26, 2018

    Yup! Try this first, but you can also look for similar companies by doing a Google search. I only recommended them because I used them personally and I was happy with their service.

  • at July 26, 2018

    Awesome! Thanks again for everything, Brett!