The only hard asset is the equipment value. Check out the equipment value compared to the loan value by pressing banker at the top of the page. Usually, the potential recovery on defaulted loans is only ten cents on the dollar. Even worse, used equipment is valued at less than half of the value of new equipment. Before you get started with your loan application, you might want to calculate your net worth, don't say zero - banks hate to loan money to poor people.
Every bank has a personal financial statement form.
Find out how to fill it out and how much your worth is. Remember, the more you are worth, the more likely you are to get a bank loan. All rights reserved.