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How Can I Secure a Startup Loan?

The SBA states that a 504 loan is often structured so that the SBA provides 40 percent of the project cost and a participating lender pays up to 50 percent. That leaves you to cover about 10 percent.


A bank, even when seeking an SBA-backed loan, will want to see a solid business plan. It helps having personal experience in the industry or a good mentor who is well versed in the industry. You may also have to talk collateral, including possibly a home equity loan, and provide as much startup cash as you can.

Bank lending is also more conservative than it was before the mortgage crisis of 2007. Be ready to make your case.