Would a bank loan me 1 to 10 million dollars to start a business venture?
No.And I say that because your question tells me that you don't have what the Bank wants. In a word "Collateral". Banks won't lend you money unless you have a guaranteed way to pay it back even if your great business scheme goes belly up.And they want collateral that is going to cover their investment and make them money. So if you have 20M in Picasso's or $20M in gold bullion, then maybe you can get a loan for 10M. But your art and real estate will be forfeit to the Bank if you don't pay them back on their terms and timelines. Banks put their money where the risk is low and the return guaranteed. If they've got collateral then they don't care if your idea is stupid because they'll just take your collateral and still make a profit. Now if you have a plan to make lots of money, but you need some seed money to make that happen then what you want is an Angel Investor, not a bank. Angel investors take risks on ideas, people and businesses that they think are going to make it big. They are really gambling with their money. But before they take that gamble they want evidence that your plan is smart. They want to be confident that you will take their money and triple it (or better). If you can prove that, then they'll invest. And they'll take a large % of your company as part of that investment. Angel Investors also want to know that YOU have invested heavily in your idea. They're not going to give you their money unless they know that you're committed. The more your entire life is dependent on the success of this business the happier they will be.
I need a 500 dollar loan....?
OK so i need a 500 dollar loan in less than 8days i need to pay two fines of 250 dollars each of course i might not have to pay the 500 in 8days if i get an extension but, the point is if i dnt get an extension then i am going to have a loan for sure and i DNt have a Job right now and even if i did have one i wouldnt be able to pay 500 in 10 days nor could i find a job that pays 500 a week in less than 10 days so please some one help me i need to have 500 dollars by 6-29-09 and its 6-22-09 alreadyy help mee i cant ask my parents for money thats for sure cuz they dnt know i got a fine n its my first one so i dnt [lan on telling them
Where can I get a $500 dollar loan for 4 months?
The Bank
I need a loan for about 6400 dollars but i have bad credit. ?
Bad credit is one of the hardest things to get rid of so it will be tough. you're going to need some pretty major collateral and you'll more than likely have an outrageous interest rate. You might wanna ask a friend or family member.
Why does taking a loan of a few thousand dollars to cost me over 100,000 dollars at retirement?
Because of compound interest.Let’s say you borrow $5000 at 10% interest and don’t pay anything until you retire. After one year your loan is $5500, after two years it’s $6050, after three years it’s $6655, after four years it’s $7320, after five years it’s $8052.After 10 years it’s just shy of $13000, after 20 years it’s $33500, after 30 years it’s $87200, after 40 years it’s $226000.The kicker is compound interest. If you think that a $5000 loan at 10% interest costs you $500/year in interest you’re making the mistake that many people make that costs them very dearly. The first year you pay $500 in interest but that brings your total balance to $5500 and the next year the $500 interest attracts interest of its own - an extra $50.A more precise figure at 40 years is $226296. Using calculations for simple interest $500/year for 40 years would cost $20000 in interest, giving you a total balance of $25000. In this instance compound interest has cost you an extra $200,000 over the course of those 40 years.