I would like to know if business owners want to go for small business loans, Then which is the better way to get small business loans. I mean to say can you suggest what kind of financial institution may help me , is it local banks or international banks or some organizations.
Yes, It is definitely counted on the business history and your work experience. Better your business goals and experience easier is the loan process. But, point to be noticed is that most banks donot rely on the new business startups or newcomers of the markets. So, it is little difficult to convince the lender (Banks/Others).No one is ready to take the risk of losing money.
Yes, You may opt for Govt. banks or cooperative banks as they are good options for small business enterprises and small business loans. There you can have low interest and you may have guaranteed security facility
I think I have the similar query with my friend too. My friend wanted to expand his business and he runs little short of money, so he wanted to take a small business loan. So, he said it was very tough to get such business loan because only newcomers and startups opt for small business loans whereas the bankers finds insecure to lend money to small business owners. In this case I would suggest to look for platforms that lend money at lower rate of interest like antworks.com. You may enquire on this more