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Small Business Ideas Forum

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Old 26th September 2007, 12:22 PM   #1

Join Date: Sep 2007
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Default Funding Your Business

Hello Everyone,

My Name is Raffi and I'm new to the forum, I was wondering what investors provide the best small business loans?, Im trying to get my Business off the ground but am in need of some additional financing, any ideas?, thanks.

Raffi S.

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Old 28th September 2007, 11:41 AM   #2

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Location: Loveland, Colorado
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There are many sources for funds from grants, angels, vc, traditional loans even govt. loans. As for favorable terms each has its place depending on your business type, your personal finances, your background, etc... However, it is very very important no matter what source you pursue to show that you have "skin in the game". Your personal investment financial and otherwise communicates how much you believe in your business. The ingenuity you exhibit in taking your business the distance is revealing. If someone sees that someway somehow you are committed to making it work with or without them or their money it becomes easier to trust their money to you.

Good Luck

John W. strategic consultant
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Old 30th September 2007, 08:33 PM   #3
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This isn't what you want to hear but I really think you want to focus on bootstrap opportunities that don't require much cash if you're cash-strapped yourself.

Instead, I think you want to focus on businesses that require lots of sweat, guts, shoe leather, etc.

Money often isn't a requirement to start a business. The only thing you really need is a customer.

BTW, I essentially started my first consulting business by spending a grand on a PC. (End result: a low six figure income in my mid-twenties--which was more than two decades ago.)

I started my book packaging business (ultimately doing work for Microsoft Press, Barnes and Noble, and other big boys) by buying about $10K of equipment (End result: a high six figure income.)

Er, I did once start a publishing business with a few hundred grand of my own money... and found in the end that all the "extra" money only made me foolishly bold. (End result: A financial disaster.)

Good luck,

Steve Nelson, Publisher, www dot llcsexplained dot com and www dot fasteasyincorporationkits dot com.

Last edited by SeattleCPA; 30th September 2007 at 08:35 PM.
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Old 2nd October 2007, 01:29 PM   #4
Raise Capital
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I agree with Seatle CPA. Many people see a large opportunity to go over the amount needed to start a small business. I would try finding ways to get your business off the ground in other ways. It may not be what you want right now, but if the idea is great, you will attract people who wants to invest.

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Old 6th November 2007, 10:36 PM   #5

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How much money do you need?

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Old 6th November 2007, 11:47 PM   #6
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If you can let us know the business you would like to move into, we may be able to suggest some cost cutting ideas.

Have you seen our services in:
Brand Advertising, Marketing and Visual Design Promotion
and don't forget The Brand Design Blog
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Old 16th November 2007, 02:32 AM   #7

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Default What lenders look before approving your Business Loan

Every lender always want requires guarantee that loan will be paid back. It may be assured by many factors as collateral property is common way. But risk factor is always there and lenders will try to minimize it. They will do analysis of your previous experience in the business and your success chances of your new business plan. If you promoting existing business with a commercial loan. Then lenders will analyze your business history, tax returns, revenues and liquid assets etc.

Credit card statements also play?s important role, if they signals green it means there are better chances of your loan being approved. Secondly if you?re a new to business then the process may be complicated. Here how you present your business plan plays very important role in getting a loan.

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Old 21st November 2007, 06:20 AM   #8

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Hello friends, as you can see I am also a new entrant not only to this place but also in the matters of business. As we all know funding in the proper way can be said to be the main aspect of a successful venture I would like to get tips as to how should I confirm the genuineness of the person or authority ready to give me a grant or any other sort of help? Has there been any instances of fraudulence in these matters too?

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Old 4th December 2007, 01:05 PM   #9

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Default Be wary of Grants

Be very careful where grants are concerned. I am a small business SBA finance loan consultant and I know for a fact that the government does not offer grants to start-up or purchase a business.
Although you will come across many sites online about how the government does, I am telling you they do NOT. Grants are for researchers and non-profit organizations.

I had a client who lost $400 to a company (with a very professional website) that told her they will find a grant that suits her to start-up her business. They told her they found a grant that both she and her husband were eligible for a minority grant of 125K each! Needless to say, she not only never saw the grant funds, but she could not get hold of them to get a refund. Their website said it was "guaranteed". Upon doing some research for her into the company she told me she went to, I came to find it was a scam. All I did was type the name of the company with the word scam after it, into a google search and lo-and-behold, a whole bunch of websites came up that people had posted about that company (after they were scammed). The company apparently started the scam in Canada and then relocated to the USA (i'm assuming after they were getting "noticed" about their scam).

BE CAREFUL & research all companies you find and inquire with, also check with the Better Business Bureau to ensure they don't have unresolved complaints against them. keep in mind that even the best of businesses can have a few complaints against them (you can't please everyone) but make sure if they did have a few, that the complaints were resolved.

Stay clear of multiple compaints, especially when it's the same complaints (ongoing means the problem also remains unresolved (not just the complaint)

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Old 9th December 2007, 11:59 PM   #10

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What kind of business is it, and how much do you need? Do you have prior business experience? Do you have a business plan? Exit strategy? Has the concept been tested already?

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