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About John A. Troland
Expertise
I am a professional accountant, small business consultant and business plan writer with 43 years experience ( I am also listed on allexperts website as a volunteer in the category of Writing Business Plans).I can answer questions on what needs to be done to start a small business; forms of legal organization;financing for the business; need for a business plan; questions related to the purchase of a business; risks and rewards of owning a small business; marketing and promotion questions and questions concerning bookkeeping, accounting and tax considerations when starting a small business

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numerous clients over 43 years in retail, wholesale, service and the
manufacturing sectors

 
   

You are here:  Experts > Business > Small Business: Canada > Starting a Small Business > SBA Loan

Starting a Small Business - SBA Loan


Expert: John A. Troland - 9/21/2009

Question
Hello, my wife and I are wanting to start a resale store business. We will need a loan to help get started. Now the hard part.
Right now I am working as a Plant Manager here in St. Louis, Missouri. We are wanting to open the store in Parkersburg, West Virigina. Would I be able to obtain a small business loan in WV without any job and just moving there? If not what other options would be available?

Thanks,
Tom and Paula

Answer
Tom: Based on my 44+ years experience I would  firmly believe you could NOT get a small business loan without having a job.  Also you would need collateral for a loan AND nEW business startups, in today's economic environment find it VERY VERY difficult to borrow money at all.  My suggestion would be to contact your local SCORE/Service Corp of Retired Executives office at 800-634-0245
or www.score.org  They offer FREE one on one guidance and advice.  Youy might also try an internet search using the phrase "grants to start a new small business."

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