But you may be aware of the fact that having passion is not enough for starting a business. You need a reasonable fund to start your business. You can take your family members or your friends as share holders. But in that case you have to share the profit with them and your freedom will also be curtailed.
So the best option left to you is a Business Start up Loan. The amount you can borrow as a business star up loan will be decided by various factors. If you offer collateral you can borrow as much as your collateral allows. Your credit record also plays a vital role in deciding your loan amount. If you have an impressive credit record you can borrow a big amount, but a poor credit record may not allow you to get a hefty amount. However, the decision of the amount to be sanctioned differs from lender to lender. Through enough research you can find out the lender who may lend big amount in spite of your adverse financial record.
You can avail a business start up loan with or without collateral. Even a poor credit record will not work as hindrance. But the manner of your loan will differ according to the class of lender you approach.
Applying through traditional lenders involves lengthy process, physical labour, lots of paper works and hassles. But if you apply through online lenders you will be free from all the paper works and tensions involved while borrowing from traditional lenders. Read also: Expand Your Venture With Business Loan
It is better if you collect quotes from different lenders and make comparison between them on the basis of loan terms and fees charged by the lenders. Finally fill up the simple online application form. In this way you can enjoy an unimaginably easy loan process.