Lenders want to be sure they will not lose their money on businesses that fail. Most lenders, therefore, will want to review the business plan carefully. This plan describes how the business will be operated, how much money will be needed and how it will be used, and when the business will be profitable. Most people think of banks when borrowing money. Although it is true that banks lend money to help businesses get started, it is not always easy to borrow from them.
Banks lend money when the risk of losing it is very low.
Frequently, they will only lend to their customers whom they have known for a long time. If you are a member of a credit union, you may be able to borrow there. Many times, small loans are available for personal or business uses. Some loans can be obtained with just your signature. And, credit union interest rates are frequently lower than bank rates.