Question : Any suggestions on obtaining a business start-up loan with no credit check? or is this impossible?
- asked by Chelle
All Answers:
Answer #1
You might want to take a look at
http://www.business.gov.sg/I have also done someresearch and found that there is 'Micro Loan'which is specially for start-ups. Several bankshas this loan. One of them I've found out about isOCBC.Why not you check it out.Good luck! Hope youfind what you need.
- answered by kasmaran
Answer #2
Unfortunately, this is not possible. Businessloans are very risky because statistics show that80% of businesses that are started will failwithin the first year. 90% of businesses that arestarted will fail with the first 5 years.Banks arein business to make a profit, not lose money onrisky loans.Because of these facts, any bankerwill want you to have a good amount of your moneyinvested in the outcome of your business. Thatway, you will be much more motivated to make yourbusiness succeed because if it fails you'll losemoney as well.Good luck.
- answered by Greg R
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