I need a loan to expand my business, where can I get one?
Here in Ghana, it is difficult and expensive to get a loan usually with a very high interest rate.Can anyone give me advice and information on where i can get a loan of US$500,000 for a period of 5 years with a very moderate interest rate to expand my business of dog food production.
I would have to assume that you have the business plan, revenue and leadership of your business team to qualify for this level of funding. Risk is the biggest consideration by any lender for a small business. Would it be possible to work with a smaller investment?
Given your current location you might consider crowdfunding platforms to raise captial for your business.
Take a look at www.communityleader.com, www.gofundme.com, www.indiegogo.com
It completely depends on your business needs. If you want to get a small business loan from banks, you shall give details about your credit score, the nature of the business, and capital information etc to the banks. It takes some time for approval of a business loan. If you require money immediately, there is also another option for you that is a small business lender. Because lending institutions are providing financing with less time. You can use this loan amount for your business.
Read more here https://merchcash.com/resources/post/business-loan/
I agree with Tara that crowd founding is the way to go. There are quite a few organizations that are in this sector.
However, since you're asking for a large amount of money, I'm not sure you'll be lent that much unless you can prove that you have a solid business plan. You may need to restructure your business so that your start-up costs are lower.
Sorry to say, but you are unlikely to get a bank loan until your business has a good track record of sales and profits. Remember the old saying "banks only lend money to people that don't need it!"
Gilbert, who do you sell to? If to large businesses for export, considering working with them on an equity basis. From my work in Ghana, I would agree it would be difficult and expensive to obtain bank financing.
You can contact these guys: https://Linkagemind.com/ . They'll provide you with a comprehensive information on this issue, including which documents to prepare and which institutions to turn to.
There are multiple sources for funds; how much do you need and how soon do you need it?
How I Got My Loan From Kendrick Investments Limited
My names is Katie Dorrell from Denver Colorado, USA. Am a married woman at the moment with two kids and i was stuck in a financial situation in February 2017 and i needed to refinance and pay my bills for my son schools bills. I tried seeking loans from various loan firms both private and corporate but never with success,and most banks declined my credit. But as God would have it, i was introduced to Kendrick Investments Limited a Private limited with Share Capital Company by a friend, and I got a loan sum of $150,000.00USD on the 7th of March 2017 and today am a business owner and my kids are doing well... So i want to advice any one in need of a loan to quickly contact him via email on :email@example.com he does not know am doing this but I pray that God will bless him for the good things he has done in my life.
Oscar Entrepreneur Venture is one of the leading independent private company services and manage a wide variety of security and legitimate loans such as students loans, real estate loans, business loans, personal loans, debt consolidation loans etc on behalf of lenders and investors at an affordable annual interest rate of 3%.
Visit: WWW.oscarentrepreneurventure.com.ng OR