Fri 13 Mar 2009
Getting Business Credit from Family
Posted by admin under Loans
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My dad runs a pretty successful car dealership in our town. Since there were no other car dealerships within miles from our town, he had the whole town as a captive market. He would often tell me that someday, I would inherit his business. But unfortunately for me, I had very little interest in selling cars. And ever since I was a kid, I already wanted to have my own restaurant.
I knew I had to start up my own business before my dad became too persistent about me running his car dealership. Since I was going against my father’s will, I didn’t want him to know about it until it was already ready to take off. I already knew what I wanted to do so the next thing was getting the money to pull it off. I tried going to the bank to secure Business Loans, but it seemed as if they were discouraging me just by the amount of requirements. Since that option seemed like a dead end, I tried Personal Loans instead. I had some success in getting some money but it wasn’t enough to start up the restaurant that I wanted. Ultimately, I had to go back to my dad to get Business Credit for the restaurant that I wanted to start up. I guess it’s really true what they say that your family will always be there to support you.
