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If you are starting a new business, one of the things you are going to want to learn is where to apply for a business loan. There are a number of options at your disposal, all of which have pros and cons (although some have more than others)
But first it is important to establish your business credit profile. If you haven’t gone through this process, now is probably a good time to start. Got your lawyer? Good. Set up an LLC or C-corp for your business (because you probably don’t want to be operating this as a sole proprietorship). Then, register your business with the IRS so you can get a federal EIN (the social security-esque number that identifies your business when it’s time to do your taxes.) You will also need a telephone number and a bank account in your business’ name and will need to register your business with one of the business credit reporting bureaus.
Excellent, now you are in the business credit system! Now it is time to figure out where to apply for a business loan. Assuming that your credit needs extend beyond the reaches of business credit cards (which are, of course, extremely important for building business credit), you will want to seek the aid of a small bank or credit union that is willing to work with you. Local finance divisions are excellent for small business people trying to get a leg up on their enterprise, as they are more likely to try and build a banking relationship with you, and less likely to treat you like an account number. You may want to see if there are any SBA loan available. The SBA has a number of excellent small loan programs that you will probably find very helpful.
You may also want to consider P2P lending. Sites like prosper.com and lendingclub.com are excellent for networking you with other individuals that are willing to extend credit. While they cater mostly to home loans, sites like virginmoney.com are useful because they allow you to set up a loan deal with others, and provide you with the business and legal resources in order to do so. It is a bit of an unorthodox strategy, but it is a very valid place if you are looking for where to apply for a business loan.