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What banks are lending money?

I have been getting the runaround by people telling me that it will be hard for me to get financing to buy an existing business because the economy is bad and I don't have any net worth. What financial institutions are loaning money even though the economy is in bad shape?

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Answers (4)
Sophia Mason
Merchant Advisors
Financial Services
Middlesex County, CT

With a proper online research you can find numerous lenders offering small business loans to borrowers even with bad credit score. Among many, Merchant Advisors is the best lending institution offering business financing with flexible loan terms and rates. If this sounds like something that interests you & benefits you, i highly recommend you apply and get started.

Nov 1, 2013
Robert Cutler
Attorney
New York County, NY

Mary, every lender will require you to have some assets available to put up as collateral. If you have no net worth, this simply isn't possible. You will need to find a different way to finance your purchase -- you should try to raise the money through an equity offering to friends and family.

Jan 25, 2010
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Biz2Credit, LLC
Financial Advisor

You can locate small business loan options and work with business lenders on our site http://www.biz2credit.com/.There are loans available to businesses with less-than-perfect credit histories or for start-ups, and there are non-profits that focus on providing small and flexible business loans. The rates and terms vary according to the loan use, the borrower's strength, location and industry. In today's economic environment, timing is everything.

Jan 24, 2010
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The BAF Group LLC
MD

Virtually none, if you don'g have any net worth. The Banks will want some semblance of security, in the way of either personal equity, or equity in the business, or both. Start with those that have SBA links.

Jan 24, 2010

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