Ask Entrepreneur

Who has great deals on startup business loans?

Im looking to start a T-shirt business online. How much money should I start with to be on the safe side? Where can I get an easy business loan?

Probably no one. Typically, banks avoid lending to startups because of the high failure rate of new, small and under-capitalized businesses. That's why most startup entrepreneurs turn to personal savings, credit cards, and loans or investments from their friends and family. You may also be able to get a credit line from a bank based on your personal credit history. Because your online T-shirt business does not require a physical storefront or a warehouse full of inventory, your capital needs will be modest and you can quickly and easily find the money you need to get started even if your bank turns you down.

Share Your Thoughts

Today's Editor's Picks

About ASK ENTREPRENEUR

Ask Entrepreneur is a question-and-answer forum for and by the Entrepreneur.com community. Send in your burning business question, or comment on someone else's now. Have a Question? Ask Now

Topics (over 1000+ answers)

Ask Entrepreneur Q&A Hangouts

Google + Hangout With Shark Tank
Google + Hangout With Jason Falls
Google + Hangout With Angela Jia Kim
Google + Hangout With Grant Cardone

ASK Quick Tips