What is the size of a small business loan can I be saved with $ 30,000?

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What is the size of a small business loan can I be saved with $ 30,000? Is it like a mortgage, when you have a down payment on it? 100k? 200? 300k?

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    captain
    February 21, 2011 at 2:02 pm

    Impossible to answer. Different banks have different tolerance to risk exposure. Also depends on the type of business and how solid your busines plan is. In the case of a restaurant, you can forget anybody giving you more than 30k. Banks are even skittish about getting into restaurants for 50% never mind the 1000% leverage you are asking about. In existing businesses, the owner will carry all or part of the sale price as a loan in some cases. ( usually have to be desperate to sell which should be a warning sign.) Best way to find out is to go to your banks commercial loans officer and ask THEM. The very worst thing that can happen is that they say no.

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