Like many of us, want to start a business. I would like to know: Who are the best people in the market to approach to get a business loan, who don’t have business experience?
I know Banks are the worst, they won’t entertain you.
Does anybody have insight to this?
Posts: 52
Location: planning to move in Ottaw
Posted on: 09-03-07 22:31:44
Location: planning to move in Ottaw
Posted on: 09-03-07 22:31:44
I think, try BDC they are lenient as one of my friend in bank told me.
Best of luck
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gagan
Quote:
Originally posted by canadatrust
I think, try BDC they are lenient as one of my friend in bank told me.
Best of luck
Well, neither BDC nor banks are lenient. It depends uopn the deal - business, business plan, experience, owners' share and credit and top of that how one package and present the deal before a lender. Yes, BDC being a crown corporation has added products and lenient underwriting than banks. BDC's main objective is to promote the business. BDC also handles tough deals and also finances inventory which most of the banks not.
Should any CD need any help or wishes to know more can send a PM or email or call me any time at 416-305-0080.
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DP JAIN, CPA, CGA, CPA (US), CA(I), LL.B.(I)
416-305-0080
(Loans, Mortgage, Tax, Accounting, Investments)
