I want to obtain a loan for a business
August 31, 2006 7:01am CST
My company is located in Romania. We want to start a new business here and we need to finance it. The total sum we need to start this business is around 400,000 Eur. Can you tell us where can we get this loan from ? Of course, that the credit conditions have to be acceptable. Thank you .
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31 Aug 06
To obtain loan from any Bank in any part of the world the following is required: 1. A project report explaining projected profitability of the proposed firm 2. Quantum of loan required and how it will be spent? 3. Personal guarantee of partners/proprietor/directors 4. Whether the firm is registered? 5. Whether the firm is registered under tax department 6. What is the quantum of investment the owners are making? 7. Any collateral security like immovable property to be pledged. If you have all these things ready, you can approach any leading bank of your area. If need be, you can take your chartered accountant who can be of help in explaining the financial implications.