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    Quote Originally Posted by amitkumar View Post
    I will be very frank with you, getting a big business loan with minimal interest is next to impossible. Bank charges around 10- 14% and private lender ask for 13-25 % of interest rate. I will suggest you try Lendingkart group for loan requirement. You also also use Lendingkart App to check how much business loan you are eligible for. Lendinkart can offer upto 1 crore business loan.
    When we are applying for a loan then the first thing that gets checked is how much credit score we are having. If our credit score is good then we can easily get a good amount of loan that can be sanctioned by any bank easily to us. But if our credit score is not good then the problem comes up and getting a loan is not at all easy for us.


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    I don't think it is low. Any ways You should go in multiple banks and check their rates. Good luck!


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    There are two ways to get a government subsidized loan (with the lowest rates).

    The first is a simple direct loan. Many local IDA's (Industrial Development Agencies) around the United States can offer these. Many state level agencies can do the same (NJEDA in New Jersey for example). These are usually limited to $2M however, but rates can range from 2% to 4% (current as of 11/2/2017)

    Another way for much larger loans (up to $10M) is available for qualified manufacturers. A manufacturing firm can use government agencies such as an IDA as a conduit for a loan. When a loan is issued 'through' an IDA in this way, they can become tax-exempt which results in about a 25% to 35% reduction in interest rates.

    Finally, if you are a non-profit. the conduit financing through an IDA can be obtained for unlimited amounts of money.

    I hope this helps!

    Adam


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    I might want to state that it is extremely hard to get gigantic credits at low loan fees for people or private companies. This is because of the reason that people and private companies constitute a substantial level of a bank's client base. Along these lines, If you are searching for an advance to begin business, I would prescribe you to search for financial speculators who might be occupied with contributing your business.


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    The only thing which I can suggest - ask your friends or family for this. Other than that it will be impossible or illegal.


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    You should check out SourceFunding.org for your small business loans needs. The university and foundation backed platform is a 2016 Clinton Foundation sponsored Commitment to Action recognized in the Business and Management Review for "FinTech Innovation" and highlighted at the Obama White House for economic and social impact. The platform's launch was planned in the Ashoka U Accelerator and publicly announced at the Clinton Global Initiative and White House State of Women Summit.
    The platform uses advanced technology to streamline access to funding for entrepreneurs, small business, and community organizations so that they can expand, create jobs, & transform communities.


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    Last edited by mldo2017; 11-08-2017 at 06:52 PM.
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    Tough question considering we don't know too much about your business, the approximate size of the loan in question or what the loan proceeds would be used for. Are you a pure start-up looking for seed money? An established business short on cash flow and needing more working capital? In growth mode and need to invest back in the business? To save you time running around to different banks and inquiring about a business loan, I'd first figure out what specifically you need the money for and have current and projected financials for your business ready. If you could share more detail about your business and intentions with the loan, I'd be happy to go into further detail. With the low interest rate environment we currently live in, now is a good time to consider financing, though it needs to make sense financially for you, and your business.

    Cheers,
    YourCFO


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    Most banks offer types of savings account with a time limit. For example, you deposit X amount into the account for a fixed time, usually 6 months, 1 year or two years. The interest rate is a big higher than on regular savings accounts, but often you cannot add funds during the saving time. Also keep in mind that it is very hard to get the money back before the account expires, even if you really need it.


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    To understand the different types of loans you can take out, i would read the following article. It helped me get my head around what it takes to take out a loan. http://b7y.us/SmlBizLoansTYPES


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    Converse with the greatest number of various banks as you can, and record the greater part of the numbers that they toss at you. Take as much time as necessary and look at all of your notes. At that point figure which bank will give you the best arrangement. It's an extensive procedure, yet in the event that you need the best arrangement you'll have to work for it


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