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Is it possible to get financial assistance ?

My business is a small SME but with a big potential to grow. My biggest challenge is finance because I cannot get a loan without collateral

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Alice hi. It is feasible, however no collateral normally means higher interest rate and more requirements. You may need to have at least good record of revenue during a year, guarantor, recommendations, and so on. Review the loan agreement and pay close attention to the interest rate and annual percentage rate (APR), origination fee, prepayment penalty, the payment schedule, loan term / conditions, etc. Examples of sources? Government lending agencies, banks, credit unions, private investors, crowdfunding, family, friends, angels fundings. Be careful with loan sharks. In any case, prepare a good business plan (including financial plan) and a personal financial plan, to share with potential lenders and demonstrate you are an above average candidate. Wishing you the best.

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