I know banks arent lending easily nowadays...but in 5 years if I wanted to take out a 15 million dollar loan for a business (for buying the property and equipment), what would I need to have?I know a strong business plan and good credit are a must.But would having 500k in the bank help?(i have no collateral, just 500k)What else would help me get the loan approved?Also, do banks practically never give out loans for 15 million or is it more common than some one think?Thanks so much!
      Answer1:Aside from good credit you gotta have something that they can see that you will have the ability to pay them back that much money. Show them what your planning to do and how exactly you plan on doing it. Make them believe in you. Its like anyone else you try to get money from, they have to have confidence that you will be able to pay them back. Good credit is definitely a good start.
      Answer2:1. time in business2. one year bank statment3. net profit for the last three years4. cross yearly income5. up to date business income6. business asids7. business and personal, credit check8. business public recordand more.....http://www.orbitbusinessloans.com/http://www.orbitmerchantsolutions.com/