Help with DL & Business loan,

[Peace_Seeker 1]

hey guys, just wanna post something to really test you all here....

1. If one has a valid Australian Driving Licence till 2016, it can be trade-in to get Illinios DL straight up, I mean with out passing theory & all that practical stuff.

2. If one has about 35K$ in terms of savings to bring to US, and the required loan for a business is like 300K$

-----Is a new immigrant eligible to apply for a business loan,

-----If yes than on a above mentioned savings how much one can get from a bank

Forgot to mention that with no mortgage or any other type of loan or credit cards, with own appartment and car.

Need expert advices please.

Regards

[NigeriaorBust 4,087]

How much US credit history do you have ? WIthout history it is hard to get loans.

[Harsh_77 718]

Do you have any credit history in US?

Do you have any collateral?

Do you have any Business Plan?

If you have any of these you might get a loan.

[Peace_Seeker 1]

Do you have any credit history in US?

Do you have any collateral?

Do you have any Business Plan?

If you have any of these you might get a loan.

1. Obviously as a new immigrant there wont be any credit history but lets say in my case what will be a recommended credit score and how long it will gonna take me to get to that mark?? like what really helps me in building the score...getting a job paying taxes for a whole financial year / getting 2-3 credit cards n paying them accordinly...etc.

2. In terms of collateral say savings are of about $35 grand...how about that without any mortgages or prior loans or any rental properties n stuff, how this sounds?

3. About business plan ya do have two three ideas to start with, but should it be a feasibility report kind of stuff with whole documentation planned and designed by me or it would be just about telling the bank manager that this is the plan and thats how I'll start.

Any ideas about conversion of driving licence from valid Australian to Illinois driving licence..do I have to go through a whole process as applying fresh or it'll be a straight through trade-in sort of stuff?

Regards.

[Harsh_77 718]

1. Obviously as a new immigrant there wont be any credit history but lets say in my case what will be a recommended credit score and how long it will gonna take me to get to that mark?? like what really helps me in building the score...getting a job paying taxes for a whole financial year / getting 2-3 credit cards n paying them accordinly...etc.

2. In terms of collateral say savings are of about $35 grand...how about that without any mortgages or prior loans or any rental properties n stuff, how this sounds?

3. About business plan ya do have two three ideas to start with, but should it be a feasibility report kind of stuff with whole documentation planned and designed by me or it would be just about telling the bank manager that this is the plan and thats how I'll start.

Any ideas about conversion of driving licence from valid Australian to Illinois driving licence..do I have to go through a whole process as applying fresh or it'll be a straight through trade-in sort of stuff?

Regards.

DL - check on their state website, each state has a little different rules in terms of DL.

There is not a specific score, that would be upto the lender and their terms and condition.

If you put down all of your $35k you are only looking at the 10%

Business plan yea certainly whole feasibility about when the lender would recover their money or something that would show them lender would not loose any money on their ivestment.