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Requirements for loans to setup new business
Requirements for loans to setup new business We don’t have partners that offer loans for new businesses. This is considered as high risk due to its likelihood of non-profitability in the onset. However, these are options and steps you can take:
- First, you must have a stable job or a collateral (e.g. house and lot, lot, car, trucks etc.)
- Change the purpose of your loan from ‘for a new business’ to ‘home renovation’.
- If you are unemployed or a freelance (non-office, no-employment-contract) worker, nominate one of your closest relative (spouse, parents, siblings etc.) to take out the loan in your behalf.