Should I apply for more than one startup loan at once?

If so how many?


Rather than using a shot-gun approach which could quickly back-fire on you - because "its a small world", I would qualify them and determine the odds of your deal obtaining approval at terms which would be acceptable to you. Typically, providing an executive summary should give them enough information to gauge whether you'd bet a fit - or not.

Additionally, there are many pretender-lenders who are simply brokers promising the world in exchange for upfront fees - who promise you the world with no possibility of ever delivering.
A well presented package with all of the pertinent information will save you countless hours and many headaches, while insuring your loan request the best chance of approval in the shortest amount of time.
There are many pitfalls in the complicated field of commercial financing. Working with a seasoned professional can make all the difference between achieving your goals, or not.
Please feel free to give me a call, and we can discuss your particular scenario to make sure you're on the right path!

Answered 8 years ago

It is not advised to apply for more than one startup loan at once. But depending on how confident you are in the startup, it might be worth it.

Answered 8 years ago

Depending on what your business is, you could be eligible for a variety of grants. I would look into grants before seeking a loan.

Answered 8 years ago

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