Who has great deals on startup business loans?

min read
Opinions expressed by Entrepreneur contributors are their own.

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.

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Starting, buying, or growing your small business shouldn’t be hard. Guidant Financial works to make financing easy for current and aspiring small business owners by providing custom funding solutions, financing education, and more.

Latest on Entrepreneur