Forums: Discussions for entrepreneurs and small business.

It would be easier to advise you if you gave us more information. What type of business are you starting? How much financing do you think you need? Have you written a business plan?

If you don't qualify for a bank loan you might try peer to peer funding. If you go with peer to peer lending you still need to have a decent credit score. You can get a loan with a less than stellar credit score, but the interest rate will be quite high.

Assuming your business is for profit, it is highly unlikely you will qualify for any grants, so don't waste your time chasing down that road.

Probably you will need to bootstrap your start up. That might mean scaling back your business so that you don't require so much capital up front.

Another funding option can be found in my signature below. It is a peer to peer funding option but not loans.

Tell us more about your business.

 

 

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Sylvia Freelance Business Plan Writer

I own a landscaping business that has been around for 2+ years but we recentl have been tryingto expand beyond the start-up phase. Currantly we onle do our local streets. My credit score is only 523 if that helps. My business consits of myself and one friend.we have most of the equipmenet and are looking to purchase a used vechile with a plow to get customers in this area sinc we live on a dead end road tha city plows dont come down to often.

I just went through the link you sent and I think I foundthe type of group i was looking for. By this i mean that once my company ison a roll I can put back into the network that help m get rolling.

523 is an extremely low score, you need to get some good credit repair advice from a non-profit. (Not any of those for-profit companies!) You may need to spend some time repairing your credit before you can get financing. When your credit's better, I would approach local used car dealers and talk with the manager about your needs. They'll want to sell you a car and already have relationships with lenders that may be able to help you.

Before you get that far, you need to sit down and do the math and make sure that this plow will actually make you more money than you'll pay the bank every month. Don't forget to account for how much your insurance will cost! Who will pay for plowing? How much will they pay? If you're paid by individual propertyowners, how do you handle it when some owners in an area do pay and some don't?

Look into getting an SBA loan from a university credit union, usually they have great deals and are very lenient on giving loans.

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Businesses That profit

Have you tried raising funds yourself? I have just joined them and on my way to raise funds for my business. People have raised excess of $50000. Pm me if you need further info

Click here to view more details

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Funding Available For Any Business!