Friday, 20 December 2013
Today I will like to share with you greatest top business loan tips which no one had ever share with you before. There is this popular question which many new entrepreneurs or some newbie existing business owners used to ask about the possibility of obtaining loan without collateral. Some people believe it is not possible but I keep them telling not to say something is not possible rather find out how it is going to be possible.
To be sincere with you it is very possible to secure loans without any collateral. Just that there is a way of doing it. Depending on the financial institution you approach and how versatile you are on the knowledge of raising business finance while you have no valuable property that will serve as collateral.
It is no longer news to get loan without collateral, if you found it difficult to believe, it means you have been living under the rock for a while. Joke apart, you are 100% sure of any loan amount if you have a well written business plan. If you are starting a business newly and you know you have no collateral to secure the loan amount needed from the bank. Just go get a well crafted business plan.
Business plan is not strange and is easy to quickly develop if you are determined to do so. In case you don’t know what business plan is? It is just the detailed plan explaining the future of your business. Your business plan will tell your financier how you are going to utilize the money if given to you.
Assuming you are planning to open a supermarket in your city, all you need to do is to explain in detail what and what you are going to use the money for. If you are going to rent a space, pay for the goods that will be put in your supermarket, transportation cost, advert expenses and any other miscellaneous expenses should be clearly stated.
Your business plan is like the address of where you are going, if you are going to where you don’t know before and you have no direction to guide and lead you to the destination, you may easily go astray. Your business plan should also anticipate what the profit of the business will be (profit potential). Your business plan will assist your banks to give you the money needed for the business because they would have seen through your business plan where you are going to get the money to pay them back.
You know you intend to secure the loan amount on basis of NO COLLATERAL, your financial company must see where and how to make the money to pay their money back when it is time. By having a well detailed business plan, you are already on the sure way to obtain the loan without any problem.
After you might have completed the writing of your business plan, you can first of all take it to a chartered accountant or a professional banker to help you proofread it and make necessary correction if the need be.
The next step is to present it to where you will be given the money desired for your business. Take it to any financial institution and I’m sure you will be welcomed and the loan will be given to you. Want to know more how it works CLICK here For Free Loan Package