How to get a business loan in banks to start a new business? which bank is best in business loan?

Romana Stiman: Getting a business loan is NOT easy â€" especially with the tough economic climate. You just don’t go to a bank to ask for a loan with only your business idea. Banks look at other factors not just your credit score when applying for a business loan. Banks want to see:- demonstrated ability of the business to generate revenues -- businesses that are already operating and have at least 2 years' worth of financial statements that demonstrate strong profitability. Business ideas are just ideas; not proven to generate profits- ability to repay the loan through collaterals and assets- solid management team: they want to know that the business will be run by someone who knows what they are doing- excellent credit history- your investment in the business: they want to see that you believe in your business enough to put down your own money into the businessIf you have the above, then prepare a business plan. - The business plan is NOT the first thing banks want to! see. It's important, but banks will need to see your ability to repay the loan. Sometimes, they won't even bother to read your business plan if they know you don't have any money. If you have to have a business plan, you need a good executive summary (as that is what they're most likely read, if at all) PLUS solid, realistic financial projections/plansNot knowing what country you are, it is always best to go first to the bank where you have an existing relationship (e.g. you know the manager; you have accounts there)...Show more

Lenard Ginyard: I dont think banks (uk banks) will easily give you a loan unless you present a really worth-while investment.. you'll have to have a credit check surely.. depending on the ammount you want to borrow, i think you have to have a certain ammount of constant stable income because there going to want to get there money back too.. you'll probably have to draw up a business plan.. who your target market is if there is one.. what big! gap in the market there is or demand their is for your busine! ss.. for example if its just like a convenience store or something then you probably want to do a local survey (cluster sampling i think) to see if the local people would benefit from and use the shop..but to be honest if your asking that kind of a question then you should probably want to brush up on business skills or study business first.. I dont know ALOT about it but, i do know in this economic state banks are going to be less than willing to just hand over a loan just like that.. you have to prove your business will work with hard solid facts such as surveys.. statistics or whatever you need to prove sufficient people will buy and bring your business some money......Show more

Clare Hoard: Any reputable lender will require a business plan that shows that you can pay the loan back. Go to http://sba.gov/smallbusinessplanner/plan/writeabus... or http://www.score.org/template_gallery.html for instructions on how to write a business plan and sample business plans. Y! ou will personally have to put up 30% of the funds. No bank is going to assume all of the risk.