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Bank loans

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auragreg
Posted: Sat Oct 07, 2006 8:28 am Reply with quote
Joined: 31 Aug 2004 Posts: 2382 Location: Highland, Michigan, USA, Earth
Man - getting thru the first couple years is TOUGH!

Does anyone have any good resource or advise to get some long term loans?

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westcoastcrush
Posted: Thu Oct 12, 2006 3:42 pm Reply with quote
Joined: 10 Oct 2006 Posts: 13 Location: Sacramento, CA
www.prosper.com people lending to people, great concept... it's the ebay of loans. I got a pretty generous loan w/ so so credit. check it out!

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auragreg
Posted: Thu Oct 12, 2006 3:49 pm Reply with quote
Joined: 31 Aug 2004 Posts: 2382 Location: Highland, Michigan, USA, Earth
what group were you in?

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westcoastcrush
Posted: Thu Oct 12, 2006 4:18 pm Reply with quote
Joined: 10 Oct 2006 Posts: 13 Location: Sacramento, CA
I did'nt join a group. I just wrote a detailed profile and loan request showing a readers digest version of my business plan, est. gross, assets that I already owned, previous experience (retail, etc.), plans for the future, pics or the store space, and volunteered further info regardin lease or anything else to anyone who wanted to know more. Most people asking for loans wrote verylittle details and most of them are BS requests. spend a few hours reading their forums too, because there was a lot of info about what lenders were looking for in a loan. The loan are amortized over 3 years so even if you have to do a high interest rate, if you pay it off sooner, you're not really paying that much. I also set up two friends for smaller loan and they got funded on the first try also. Just give lots of details, and pictures. Good luck. I'll answer more ?'s if you got'em!

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