Business Loan or Personal Loan
We have a great business plan and are looking for funding for a start-up. We have identified the ideal location which is available now so time is of the essence. We spoke to The Business FInance Store today. Does anyone have experience with them? We need about 100k for the start-up. I can qualify for a personal loan which will get us that amount or we can get a business loan, at lower rates, but not for the full amount. The contact there cautioned us against using both a business loan and a personal loan - inferring the combination may create credit issues. These are unsecured loans. When I spoke to banks they want collaterlized loans and we don't have enough to qualify. Any advise or feedbak is appreciated.
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