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    Taking cash advances from credit cards is risky business. First you have to have the credit limits that will allow you to take enough off the cards to make it worthwhile. And second, these are really expensive. They oftentimes have a separate interest rate that is significantly higher than that assigned to purchases. This makes them very expensive and you can ruin your personal credit if you can't pay them back. This is an option, but once that should left as a last resort.


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    Considering the original post was nearly a decade old, I hope that he didn't take cash advances to pay for his business, or he might still be paying on them. That is good advice though. Cash advances carry a very high interest rate, and I don't think that I would gamble with my money like that.


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    Before even thinking of approaching any lender ensure that you have a well record of business transactions taking place in the organization. Hire the best accountants to keep all records. This is the most important way of convincing a lender. Proper accounting will show the lender the financial capability of the business. How much funds is the business able to raise?
    Lenders will use the information to see how much they can give.


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    You will also have to include money for a freight and possibly a dock to have your items shipped too. As others have suggested, I feel that 25%-30% down is a reasonable amount to have before you even consider contacting a lender. This will demonstrate that you are serious about your upgrade and just need a boost in order to complete your expansion. Try and get quotes from as many companies as you can in order to compare the best rates and regulations of the loan. Bringing legitimate copies of your sales and possibly your income has never hurt. This shows the lender that they will be investing in a business that is actually making money.


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    You will need to have some cash on hand in order to show the lender that you are as invested in your business as you are asking them to be. You will also need good credit, possibly a cosigner, some collateral and proof that your business is profitable and that your plans will make it even more profitable. You need to be able to prove to the lender that you are not only trustworthy when it comes to repayingyour debts but that you will have the income to be able to meet your commitments.


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    Approaching lenders is a tricky prospect. You have to be careful that you do not come off as excessively needy because then, you will not be able to negotiate the terms of debt to your advantage. What most lenders look for is collateral and your ability to pay back the loan. If you can sufficiently answer the lender's doubts in this regard, you won't have any problem in getting a loan. Alternatively, I would also suggest you to look into getting a venture capital. as you won't have to arrange collateral for it and it has the added advantage of coming without a charge of interest. But an investor would demand a share of your profits and would only be willing to invest if he has some confidence in your idea.


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    Just ask for money from closer friends and relatives. Lending companies and other loan sharks are bad for you since they will make your debt into a monumental disaster until you won't be able to pay for them anymore.


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    food for thought
    hey LT,

    If your company is really generating alot of income and you have been in business for over 9 months, your bank may require some form of collateral. Im not sure if you have any collateral and i would need a little more informe=ation about your company to determine that. However, i work with a company called VMC Capital. im not sure if you may have heard of it. we provide business owners with an alternate form of funding. no collateral needed. and as long as you have been in business for over 4 months and are generating over $8,000 in gross monthly sales, you should be qualified. give me a call or visit our website when you have the time. vmccapital.com

    844-801-2274 ext 5415
    Dave Hunter


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    I can assist with a loan
    I have access to multiple lenders and lending stuctures. My e-mail is maymortgageandfinancial@aol.com or call 803-807-6646.


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    Yes, This is good idea of lender, he can help you in your loan and also there are some lenders who offer low interest rates. Best of luck


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