How to Find a Private Personal Loan Lender

A personal loan lender can provide needed investments to expand a small business.

Small businesses that with to extend their niche market or grow to meet customer demands may not have the appropriate capital for such business growth. In such cases, the expanding small business may turn to a private personal loan lender who is willing to extend a monetary investment for qualifying businesses. Such personal loan lenders are typically angel investors or start-up investment firms. Learn how to find a private personal loan lender to obtain the capital money you need to grow your business.

Instructions

1. Catalog all of your small business' financial documents, including business plans, tax returns and income and expense statements. The private personal loan lender will review these documents to determine whether your situation would make a profitable investment for the lender or the lending firm.

2. Contact the local small business chamber of commerce in your city, town or municipality. Notify them of your investment and capital needs. Many private lenders work with local chambers of commerce to find eligible investment opportunities. Your local representative will be able to point you toward local business capital companies that do private loans.

3. Attend business networking events and mixers. Bring your investment presentation and your financial documents from Step 1 and be ready to market yourself to potential investors and private lenders.

4. Contact the United States Small Business Administration (see Resources). The administration maintains a wide array of resources for small businesses and can connect you with private lenders. Personal loans obtained through SBA contacts are typically in specific sectors, such as technology and health care. However, networking with your local SBA representative can provide invaluable leads toward finding a personal loan lender.

Tips & Warnings

• Private lenders are typically not listed in commercial directories or phone books. Networking among business associates is the most successful method of finding a private money lender for a personal loan.

Resources

• US Small Business Administration (SBA)