Forums: Discussions for entrepreneurs and small business.

I'm having a difficult time getting a line of credit and am wondering if there are any reasonable alternatives for my situation?

• I established my business on April 2008, so I'm not quite at the 2 year mark yet.
• I applied for my DUNS number and have finally received it last month.
• I'm 21 so my personal line of credit isn't too well established
• My business is doing well enough where I was able to quit my regular job
• It is an internet business, not brick and mortar
• This year I will be finishing at around $30,000 revenue
• In the next year I'm projecting to finish around $80,000 - $120,000

Consider looking online at line of credit opportunities nationwide. You may have the ability to find one that matches what you need to help get yourself going. Even though the economy is struggling a bit there is still possibilities for people wanting to start businesses and get businesses going more. You may have to market yourself a little more throughout the Internet which could help increase your business sales and viewing markets. You can never have too much marketing. You could luck out and find an affiliate company that would be willing to help if it will help their business as well.

Richardr,

If some of the funds are to purchase equipment, consider a lease arrangement.

If you are looking for a small loan -consider the community express program.

I'd also suggest that you fine tune your capital requirements. Your business plan should provide a relatively accurate picture of your needs.

robertj

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Money is used in final settlement of a debt and as a ready store of value. Its different functions are associated with different empirical measures of the money supply. Since most modern economic systems are regulated by governments through monetary policy, the supply of money is broken down into types of money based on how much of an effect monetary policy can have on each. Narrow measures include those more directly affected by monetary policy, whereas broader measures are less closely related to monetary-policy actions.^[6] Each measure can be classified by placing it along a spectrum between narrow and broad monetary aggregates. The different types of money are typically classified as Ms. The number of Ms usually range from M0 (narrowest) to M3 (broadest) but which Ms are actually used depends on the system.

I have just the site for you they will get you what you are looking for!

www.moneydwf.com

From reading you post, it sounds like you are an ideal candidate for a small to medium business loan. There are numerous finance companies that offer loans ranging from 10K to 500K without collateral. However, the better your credit history, the better interest rate you will get. This is also an ideal way to build up your credit history especially given your youth, and your business' young age. Further, this will enhance yourself to a larger loan amount from other bigger finance companies or banks going forward should your business grow as you expect to.

Please refer to www.unsecuredcreditsource.com as one of the loan sites you can contact should you feel that this advice is good for you and your business.

Thank You