 TITLE: How Do You Get a Loan to Start a Business? CONTENT: Where to Get a Business Loan\n----------------------------\nBusiness loans are available through banks, credit unions, online lenders and even microlenders that specialize in smaller loans. However, not every potential lender is going to be a fit for your startup business. In fact, many require loan applicants to be in business for at least a year or two before they can be considered for a loan. It's also ideal to get multiple loan offers, if possible, which means you'll probably want to cast a wide net. The more potential lenders you find, the better your chances of getting a loan that works for your needs.\nWhere do you start? Here are a few ideas:\n*   **Your bank or credit union**: If you've opened a business bank account, inquire with your financial institution about business loans and credit. Even if your new business doesn't qualify for the full loan amount you're looking for at your bank, a small loan or line of credit could help. It'll establish a credit relationship for the future, which can help you build your business credit score along the way.\n*   **Business-focused banks**: These can be found in your community or online.\n*   **Online business lenders**: Startups may find online lenders more amenable to lending than regular banks, though interest rates tend to be high.\n*   **Microlenders**: If you need less than $50,000 to launch your business, a microlender like Kiva or Opportunity Fund might be worth exploring. These are nonprofits or alternative lenders looking to help businesses find small loans, often at low interest rates. Many are startup-friendly.\nThe Small Business Administration may serve as a helpful resource when you're searching for loans. The SBA doesn't make loans itself, but it does guarantee small business loans made through banks and credit unions. An SBA guarantee takes some of the risk out of business lending, so working with the SBA can be a real benefit to new business owners. The SBA's LenderMatch program can help you locate a lender, and counseling through its SCORE program can connect you with valuable advice from experienced business owners. The downsides: SBA loans involve a series of requirements, and the application and funding process can be lengthy. END