How much are you talking about? Do you have collateral to offer? Bottom line is, a good loan is the one you can get. And business loans are not easy to get.
To get a loan from a "conventional" lender, a bank - for instance, you more or less must prove you don't need the money.
If you need the money, it will be very difficult to get the loan.
If you are buying a Salon, will the owner finance some or all of it? The more the owner will finance, the better for you (maybe).
A credit card with a decent credit limit can take you pretty far.
You will have a hard time getting either loan and from a practical standpoint it will not matter since any bank that give you money for your business will require that you sign "personally". Good luck
Personal loans are almost non-existent these days.
If you are trying to buy a business, you should get a business loan......if you qualify.
Hello, I'm looking to possibly buy an established salon and was wondering which loan would be best. I would want to do upgrades to it later on, but for now woul just settle as is. Are there any benefits for one loan vs the other? And please no smart remarks. Thanks.
