Results 1 to 6 of 6
  1. #1
    Join Date
    Aug 2018
    Location
    Los Angeles basin
    Posts
    25

    Smile Bank wants a business plan to get loan for van plus some business cash

    They didn't want a plan for financing the van but I wanted about $5K more startup operations. I have enough savings for me while I startup and enough for a down payment. As soon as I ask for a dime over the price of the van a plan is required. How does that sound? Ordinary?

  2. #2
    Join Date
    Sep 2010
    Location
    Everywhere
    Posts
    9,830

    Default

    Sounds spot on to me
    Ain't always easy to stand up for what is right.

  3. #3
    Join Date
    Feb 2010
    Location
    Western Washington
    Posts
    1,799

    Default

    Absolutely it is the way it is.

  4. #4
    Join Date
    Jun 2011
    Location
    Northern NV
    Posts
    4,580

    Default

    Yep. Perfectly normal

  5. #5
    Join Date
    Feb 2010
    Location
    Western Washington
    Posts
    1,799

    Default

    That is what I was told. What I did with family help was to buy the van with a loan separate of the business purchase. That was pretty easy to get. I bought the business portion separate and my relatives took care of that, or they would have personally loaned those funds to me, because they didn't want a business plan.

  6. #6
    Join Date
    Dec 2007
    Location
    Humboldt
    Posts
    2,127

    Default

    I had to do a plan to get about $20K startup funds in addition to what I could put up. Yes it is perfectly normal.

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