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    Where to get a big loan with lowest possible interest rate?
    I'm trying to get the biggest loan I can with the lowest interest rate possible, can anyone list some ideas where I can get this loan?


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    I would like to say that it is very difficult to get huge loans at low interest rates for individuals or small businesses. This is due to the reason that individuals and small businesses constitute a large percentage of a bank's customer base. So, If you are looking for a loan to start business, I would recommend you to look for venture capitalists who would be interested in investing your business.


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    What you are asking is something near impossible. However, for such a loan, I would suggest that you turn to your friends and family. Ask them for the loan and state clearly when you believe you will be able to pay back the money. Offer interest as an incentive to get the money but not as the main objective for them to give you the money. Here is where your business mind should be at work. Play their heart strings and appeal to their kind nature and not their business nature. NEVER go to loan sharks no matter how favourable the loan terms look. Do not be in a rush to get the money because that usually leads to desperate measures that destroy your business even before it starts. Make sure to first of all consider talking to a bank with good repayment terms first or use the internet to locate organisations that give seed capital funding to SME's before going to your friends and family to ask for the loan.


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    It would be difficult for anyone on this forum to give you a straight answer to this question. The best way to get the best possible interest rate is to shop around. Talk to as many different banks as you can, and document all of the numbers that they throw at you. Take your time and compare all of your notes. Then calculate which bank is going to give you the best deal. It's a lengthy process, but if you want the best deal you'll need to work for it.


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    Shopping around is definitely the best thing to do. Get an appointment in all of the banks in your area and see what they offer.
    What is this loan for, that might help us come up with some other options?


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    I think that's the question that everyone wants to know the answer to, lol. It all depends on your credit situation and other factors. It's definitely a good idea to shop around so that you can find the lowest rate.


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    Check out multiple banks and simply see who gives you the best offer!


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    Take that very question with you when you talk to people at various banks. While you won't get the lowest rate, you will get the lowest one for you in your specific situation. If you get a firm offer, see if other banks will beat that offer. If you are unable to find an interest rate that is acceptable to you, you may have to rethink the way you are raising your capital.


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    That is correct, the best offer will be made through negotiation. Check as much banks as you can, get written estimates from them and with those numbers you can negotiate with other banks for a lower value. Don't forget, you need the money, but they need you too to make money.


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    There is quite a few firms out there offering business loans and grants. The loans can be as low as 6.9% APR, some are quite stringent and want to see a business management portfolio and a cash flow statement. Just do some google research and forum reviews and see what's out there. Ask for loan advice from the Citizen Advice Bureau. I'm sure you will find the right loan out there. I'm looking for a loan to start up a poker business.


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