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."