Low risk small business loan

[Bradster101190]

I read a post a year or so ago on here where a guy applied for a low risk small business loan and it was hard to set up with the bank , but when he did it was a much lower risk. Such as if the business failed he would only have to pay back a certain % of the original loan .

Any ideas on how this works or tips on at least getting a low interest rate on loans?

I plan to open a gym or (personal training studio) with the loan which is what the guy I saw did before as well.

[Quistfitness]

I read a post a year or so ago on here where a guy applied for a low risk small business loan and it was hard to set up with the bank , but when he did it was a much lower risk. Such as if the business failed he would only have to pay back a certain % of the original loan .

Any ideas on how this works or tips on at least getting a low interest rate on loans?

I plan to open a gym or (personal training studio) with the loan which is what the guy I saw did before as well.

Bump - good question

[Nate R.]

I read a post a year or so ago on here where a guy applied for a low risk small business loan and it was hard to set up with the bank , but when he did it was a much lower risk. Such as if the business failed he would only have to pay back a certain % of the original loan .

Any ideas on how this works or tips on at least getting a low interest rate on loans?

I plan to open a gym or (personal training studio) with the loan which is what the guy I saw did before as well.

I believe that was "Owner" and he is up in Canada. Not sure if it is different here in the states

[Boom782]

Go to your local SBA and ask. I was directed to a small branch of the SBA and was able to receive a small loan with a 4.25% interest rate which is about half of what many banks quoted me.

Don't go into your business expecting it to fail though which is almost what you are doing looking for a low risk loan. I imagine anyone willing to offer a low risk loan would have an astronomical interest rate.

[Bradster101190]

Go to your local SBA and ask. I was directed to a small branch of the SBA and was able to receive a small loan with a 4.25% interest rate which is about half of what many banks quoted me.

Don't go into your business expecting it to fail though which is almost what you are doing looking for a low risk loan. I imagine anyone willing to offer a low risk loan would have an astronomical interest rate.

My business wont fail but I figured I could check into this.


I make enough money training people online I can move my laptop to my gym and keep it open until I pay it off .