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Help Money Gurus- I need a loan for my startup business, best option?
Posted on 6/22/15 at 1:23 pm
Posted on 6/22/15 at 1:23 pm
I have some money to the side already, but am thinking that will go pretty quickly until I get this business running full speed.
I'm almost looking at this as "insurance money" in case the economy lags even more, slows business down worse, which will make my ability to get going slow up.
Probably $10K-15K I'm looking at, so which loan would be best? Line of credit, personal, or business loan and why?
I'm almost looking at this as "insurance money" in case the economy lags even more, slows business down worse, which will make my ability to get going slow up.
Probably $10K-15K I'm looking at, so which loan would be best? Line of credit, personal, or business loan and why?
3
Posted on 6/22/15 at 1:27 pm to Taurus
You can get an unsecured loan with A+ credit in the 6% range at various banks. Zero set up cost and only draw on the LOC if needed.
Posted on 6/22/15 at 8:05 pm to Taurus
Sounds like a great sum of money to borrow from Lending Club...if credit is excellent you can get a sub 6% loan.
Posted on 1/18/16 at 11:12 pm to Taurus
Were you able to find funding? I may have a solution for you.
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