When attempting to acquire a small business loan for your newly formed business or company, there are many things to take into consideration.
First of which, is the fact that if it is for a newly formed business, you will find it quite difficult to coerce a major bank into granting you the loan.
This is partially due to the fact that given your business does not succeed it is very possible for that bank to lose money, in other words it is a gamble for them.
It will also be more difficult if you have a poor credit history, so I would advise accumulating a very good credit history before even attempting with a major bank.
Due to the difficulty of acquiring a loan from the bank it is very common for a business owner to look towards his or her family and friends for at least part of the initial investment.
This creates the opportunity to deal with the banks as little as possible and in some cases can even eliminate a lot of the interest you would be otherwise paying to the financial institution.
So if at all possible, funding your business entirely with money obtained from trusted family members, friends, or accruing a small business loan from other investors, is the best way to go.
In conclusion I will note that while the former approach may be optimal in receiving small business loans, it is not always possible considering the large amounts of money needed to start a company.
Taking this into consideration, it would be wise to acquire as much money possible from your family and other lenders, and then withdraw an even smaller loan from a bank.