Is it easy to get business loan where you live?

@LittleMel (14032)
November 29, 2007 11:10pm CST
I have a small business for almost 2 years now and when I started I got a business loan, guaranteed by my husband. I met other small business owners and they said it was very small how could I start a business with that. Well I had my mistakes but yet I fixed it and yes I managed. The thing is if we got bigger loans then the rate is way way higher so we decided not to. I mean my business is not a corporation or anything, why would I need to borrow hundreds of thousands? how about your place, is it easy to get loan with low interest there? if yes, then you can start your own it must be easier for you to do that rather than here.
1 response
@polachicago (19073)
• United States
30 Nov 07
I don't take loans for anything except house loan. I start my business with $500 in my packet. I start on part time and switched for full time after 3 years. Story from multimillionaire: Buy one potato, slice it and make fries. Sell fries, buy 2 potatoes, and make fries....after 3 or 4, start saving.... Even if you start full time to begin with, you can always reinvent wheel….and do it different way…
1 person likes this
@LittleMel (14032)
• Canada
30 Nov 07
I had my mistakes and now I only do it part time. I've always worked full time before so I feel better now having both. In a way I don't get stuck in one place forever. You have more than one business so that's enough you can't be employed and take care of too many businesses all at once