bearslayer2829
Well-Known Member
Has anybody used a Patriot Express loan for a veteran that is starting up a business? What bank did you use?
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Small business loans for Veterans.
- Thread starter bearslayer2829
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5BrothersFabrication
Zzzzz....
I was unaware of such a loan, I am curious as well! This negro needs an Ironworker, a tig torch and a Torchmate table! .... And a big room to put all that stuff in!
:afro: gotta
!
:afro: gotta
!
bearslayer2829
Well-Known Member
L
lowbudgetjunk
Guest
Good ****ing luck with the patriot loan. They wanted my business plan, mock financials, etc. I wrote a 30+ page proposal with graphs, similar businesses in similar towns and big old thumbs down. The sad fact of the matter was that I had 80% of the money, a solid business plan and they still told me to go shoot a wad in a napkin. That and my credit was damn near in the mid 800's. like maybe an 820.
Not trying to be Debbie downer, just giving you my experience with them.
You are better off going through a traditional bank that you have done business with in the past. Bette yet, piece your business together by paying cash. If you never have a business loan, you are far more likely to succeed.
Not trying to be Debbie downer, just giving you my experience with them.
You are better off going through a traditional bank that you have done business with in the past. Bette yet, piece your business together by paying cash. If you never have a business loan, you are far more likely to succeed.
bearslayer2829
Well-Known Member
lowbudgetjunk said:
Just something about this dont suprise me at all, im going to try to piece together with cash but it's going to be hard
5BrothersFabrication
Zzzzz....
I reeeeally didn't want to go into debt, but I do at least need a bigger shop. Prolly take your advice there lowbudget, much appriciated brother.
L
lowbudgetjunk
Guest
I reread and think I left out a little. Tried that loan program with two banks, Redstone Federal and some other bank with local commercials. Both of my loans could have been secured with equity in my house, but I was turned down on both.
Ended up getting the rest if the money out of my house and slowly built my business over the next two years. Went back with slightly better numbers after being in business and still......nothing. I was hoping for low interest loans to help a nigga out, but I ended up wasting two very nice weekdays I could have been working and putting money towards my actual business.
I now keep the minimum $5 in each bank and require monthly paper statements mailed to my house, plus tax info for the $0.04 I made last year on my huge savings account. I also tie up their phone lines asking my balance every month or so because they offer a program that you have to already have the money for to qualify for. If I had the money, I wouldn't be asking for a ****ing loan. Anyways, blood pressure is maxed out one week too early for this subject. Might try to release some stress on talking to them about rolling my $5.04 into a Roth IRA or just cashing out. It is always nice to get a Newb on the phone for about twenty minutes before telling them I'll just stick with the interest since it is a sure thing.
Ended up getting the rest if the money out of my house and slowly built my business over the next two years. Went back with slightly better numbers after being in business and still......nothing. I was hoping for low interest loans to help a nigga out, but I ended up wasting two very nice weekdays I could have been working and putting money towards my actual business.
I now keep the minimum $5 in each bank and require monthly paper statements mailed to my house, plus tax info for the $0.04 I made last year on my huge savings account. I also tie up their phone lines asking my balance every month or so because they offer a program that you have to already have the money for to qualify for. If I had the money, I wouldn't be asking for a ****ing loan. Anyways, blood pressure is maxed out one week too early for this subject. Might try to release some stress on talking to them about rolling my $5.04 into a Roth IRA or just cashing out. It is always nice to get a Newb on the phone for about twenty minutes before telling them I'll just stick with the interest since it is a sure thing.
