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How to get a start up loan? - rusty - 03-17-2014 10:29 AM
I am in college for photography and I want to start on my business and get some supplies. I have NO credit because I have never owned anything or gotten a loan before or have had to pay off anything yet. How do I go about getting just a small startup loan and where can I go to get one?
- Simpson G - 03-17-2014 10:32 AM
You'll have to come up with a sound business plan and show that you have a chance of booking work. You'll need to show that you are currently a working photographer and that you have an idea of how to run a business - this is usually done by assisting or apprenticing.
Until then, you use sites like MySpace and Facebook to set up a business page and you use whatever you have at hand to do basic work, like burning CDs. You also pay to have the photos made into hard copies at print shops or photography studios.
- Judy - 03-17-2014 10:48 AM
You'll nned a wrirtten business plan.
You'll need 1/4 to 1/3 of the statup money saved up, from your own money.
- vulcan_alex - 03-17-2014 10:49 AM
You probably can't and starting any business without some capital is a bad decision. Perhaps some relatives would invest in your business.
- henry - 03-17-2014 11:00 AM
Any bank or credit union will require a valid business plan that shows that you can pay the loan back. You should have a credit score of at least 700. You will personally have to put up 30% of the funds, as no bank or credit union is going to assume all of the risk.
- kemperk - 03-17-2014 11:12 AM
am an ex-pro
I never spent one penny opening my photo biz
I can guide you on that.
maybe even partner
happy 14
- CancunCraig - 03-17-2014 11:24 AM
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