Will having an existing line of credit be required to apply for government small business loans?
You do not need a line of credit to get most small business government loans. This may be necessary for some small business loans, however. However, this will be stated in the terms of eligibility and keep in mind some government small business loans are intended to help those with no credit or bad credit. So, they are still useful for those without a line of credit. If you need funds but are unable to get them because of your record financially, a government loan may be your chance to get back on the right track.
Are you ready to move forward with your business? If you need funding, youÂ’ve come to the right place. By becoming a member of CanadaStartups, you get access to the Funding Database, the Business Plan Builder Tool, the Investor PitchDeck and the Step by Step Business Startup Guide. This is all that you need to succeed. Take a moment now and become a member. It literally takes 1 minute.
You can also take advantage of the Small Business Startup Assessment Tool below and see the tools and resources you need to succeed at launching your business. It takes just a minute and will also tell you if there may be any funding programs available.
New small business owners can get government funding by way of loans and grants for their wants. There are many types of funding programs that …Read Full Answer
The typical business loan repayment plans for small business loans depend on the type of loan and how the terms for repayment have been scheduled …Read Full Answer
There may be other small business financial options for you as an alternative to high interest rates business loans if you can qualify for the …Read Full Answer
The Ontario provincial government does provide loans that may be able to help certain small business owners by providing much needed money, but only following …Read Full Answer
Getting a small business government loan in Canada is generally easier to get than grants. Each loan has its own terms of eligibility, so you …Read Full Answer
Similar Topics: Line of credit business loans