Clark Lachowski: You will not get a business loan without a business plan. The plan will include all you mentioned and more. Assuming the plan shows a potential for profit the lender will determine whether or not your venture is worth the risk. In Western PA there was/is(?) a service paid for by the state to help you write a business plan. I used it myself in 2004. It was free and the person who helped knew her stuff. It is part of or is administered by Gannon College. A lot of small businesses fail, so the state thinks it is good to help people avoid starting ventures that have little or no hope, I suppose. Call your lender and ask about it....Show more
Elsie Resner: I agree with the 1st poster......you need to have an official business plan. Also remember that with small business, it is really the individual who will be the borrower and the payer of loans, and it is reliant upon their credit. With bad credit, you will have a hard time getting financing without ano! ther, stronger guarantor. Perhaps a couple of investors to help fund your startup? Be sure to find a bank or credit union who specializes in agricultural financing, they may have some additional resources for you....Show more
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