What is the best way/ place to get a small business loan?

I've had a little business going for about a year now. Our revenues are around 150,000 and I am ready to make the jump into expanding it. I would like to hire a couple sales reps and an office person, but I will need to take a loan to make it happen. Can anyone help me out with figuring out how to go about it?


Thanks!

What is the best way/ place to get a small business loan?
Here you go, I'll give you some websites where small business loan lenders put their information up, so you'll be able to find a lot of them and just call and ask.
Reply:If you use a merchant account to accept credit cards and have had the account for at least a year and do 5k a month in processing or more, there is a good chance you could get a cash advance through a merchant cash advance company. If you credit is good you can get it at a pay back rate of around 1.38%. The funds are simply taken out of your processing to pay it back. Your merchant account provider will need to be able to provide this service as not all do. I do know that Chargeonphone.com provides this service although it appears that they don't advertise it as yet on their site.
Reply:You need to present your lender with a business plan to prove that you can pay the loan back. Go to http://sba.gov/smallbusinessplanner/plan... or http://www.bplans.com/ where you will find sample business plans and instructions on how to write a business plan.





Then, Go to http://www.score.org/index.html and in the upper left hand corner, enter your zip code. On the next screen, you will find the SCORE chapter nearest you. Call them and arrange for a free meeting with a SCORE counselor to review your business plan and discuss loan options available to you.





SCORE "Counselors to America's Small Business" is a nonprofit association dedicated to educating entrepreneurs and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).





SCORE was founded in 1964 and is headquartered in Herndon, VA and Washington, DC and has 389 chapters throughout the United States and its territories, with 11,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors. SCORE is America's premier source of free and confidential small business advice for entrepreneurs.



Reply:You may try an alternative lender. Alternative lenders are typically smaller, private licensed lending institutions that specialize in a particular industry or groups of industries. As such, their underwriting models are more flexible than a typical banks’. One such lender is Advance Restaurant Finance, www.arfcash.com. Good luck.
Reply:An established business banking relationship with either a credit union or a community bank will help. Ask your bank for a personally dedicated client manager who'll work closely with your businesses financial needs. A vote for Barack Obama will increase your chances tenfold with larger banks.

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