RAISE MONEY FOR A NEW BUSINESS USING BANKS' MONEY EVEN WHEN THEY WON'T MAKE BUSINESS LOANS. GET THE CASH YOU NEED WITH PERSONAL LOANS.

Want to start your own small business? Don't have enough money? You are not alone. But, don't worry - this brief will show you how to get the money you need.       Many people find it difficult to obtain financing for starting a small business, especially if they have never had a business of their own before. Banks are not much help. They are not in the risk business (nor should they be!), so don't waste your time applying to them for a business loan. There are easier ways to obtain the money you need for starting a business. SMALL, UNSECURED LOANS       To get money for a start up, borrow before you quit your old job. Banks will give you personal loans for all sorts of personal reasons if you have a job, but will rarely lend you money if you are just starting out in business. Some large corporations have their own credit unions, and some credit unions specialize in particular industries.       Credit Unions frequently offer easy loans to their members - so join a credit union where you work as soon as possible. If you have good credit, credit cards are an easy and permanent source of money, and the better your credit, the lower the interest rate. Some cards now offer lower interest rates than regular bank loans.       Money from these sources are called "unsecured loans" because they are not secured by physical assets, like a real estate or equipment. Apply to several banks, one or two credit unions, and a number of credit card issuers, all at the same time. It is important to apply simultaneously, and you must do it before you quit your job. None of these lenders will check with the others to see if you are applying for more than one loan. Bank A will not call Bank B and ask if a Mr.John Smith of 4414 Long Street is applying for a loan, because Bank B would immediately offer Mr.Smith their services. And Bank A wouldn't want that to happen for fear of losing that prospective new customer. There is competition in banking just like any other business.       By applying to several banks at the same time you can honestly say, on your loan application, that you have no outstanding loans (because you have not yet been granted the credit you are now applying for.) Of course, you will list the loans you do have - present car loan, home mortgage, etc. - but there is no need to tell them of loans you only hope to get in the future.       Make sure the reason you give for wanting the money is of a personal nature. Because you have a job, a bank will feel confident that you can pay back the loan. If they think you are going to quit that job, they may doubt your ability to pay it back. You will need a car or truck for your business, so make it a personal car or truck, purchased privately. (Avoid telling the bank that the vehicle is to be purchased from a dealer, or they may insist on putting the dealer's name on the check. Buying from a private individual gives you more freedom. You can go to a dealer later if you want, that is up to you.)       You may need tools, so make them personal, household tools. If you want to travel to attend a business seminar, that's fine, as long as you call it a vacation. Once you have been given the money it is yours to use as you think best. It is your responsibility to pay it back, so it's your responsibility to use the money wisely. Earn the most you possibly can with it, for you and for your family. Your employment is your ticket for personal loans, but once they have given you the money, the lenders will not check with your employer to make sure you didn't quit.       If you can get 10 lending institutions to lend you $3,000 each, you will have $30,000 to get your new business started. But, be careful! You must pay this money back, starting immediately; even before your business starts to make money. Make sure you can do this. This is one reason many people start their new business part- time, so they can pay early business expenses out of the wages from their job.

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