We`ve created a group at Prosper.com strictly for StartupNation members - you can read much more about the purpose and specifics at this page, but we also wanted to carve out an area on the forum where community members can post questions or comments regarding Prosper, borrowing or lending through this program, or anything else of relevance to this effort.
If you`re looking for a cash infusion to start and/or grow your business, or someone with a passion for entrepreneurship (like us) who`d like to both fund another business (and perhaps make a tidy return in the process), please check it out.
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chuck fuller
Business Forum
Lending and Borrowing for Entrepreneurs
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Chuck,
I think this is the break I was looking for... No is that based on Business Credit or Personal Credit?
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Edgar Monroy
Web Developer / Owner / Consultant
When starting your own business the need to "know-how" is greater than money!
http://www.nuevolution.net
I`ll have to check Edgar, but I would imagine it can be based on either of the two - I would guess that you can submit your registration on Prosper as the business owner, and take advantage of your business credit (if that`s what you`re hoping to do). As I said, I`ll have to check and see - or if you find out before me, please post the answer here!
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chuck fuller
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chuck fuller
Hi Chuck,
Is there opportunity for us to become involved? I represent a NY based company that specializes in finding investors for companies that are looking to expand and seek private equity funding of $10M and higher. Please advise.
Thanks
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Expertise: Online Marketing (SEO, link building, PPC), custom graphic design, website development & maintenance, brochure and ebrochure creation, etc.
Is there opportunity for us to become involved? I represent a NY based company that specializes in finding investors for companies that are looking to expand and seek private equity funding of $10M and higher. Please advise.
Thanks
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Expertise: Online Marketing (SEO, link building, PPC), custom graphic design, website development & maintenance, brochure and ebrochure creation, etc.
Hey SEO - Prosper is primarily focused on microloans, and isn`t designed as an alternative for equity/venture financing. I believe the maximum loan amount if $25,000 at this time, so it`s really targeted at an entrepreneur who`s looking for a smaller capital infusion to bridge the gap or cover short-term costs (or whatever use they may find for it).
Given your role, I`d love to have you as part of the group, so please do join up through the link I`ve provided.
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chuck fuller
Given your role, I`d love to have you as part of the group, so please do join up through the link I`ve provided.
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chuck fuller
Most investors want you to tell them what you want to hear in a couple of paragraphs. Well, I can’t tell you what took me three years to do and cost me $350,000 in one or two paragraphs. I don’t think that would be fair to you or me. However, what I can do is give you a link to a letter that I have prepared for your review: http://www.utsupply.com/funding.asp.
If after you have read the letter and wish to continue to learn more, please contact me by calling 248.623.6828 or sending me a message at hdh@utsupply.com and we can discuss what you would like to do and how you would like to do it.
So that you may have a better understanding of what we do, may I suggest that you visit our web site at http://www.utsupply.com.
Once you have been qualified with respect to your ability to provide the necessary funding, I will be pleased to give you a link to our complete Business Plan and all other company information for your review.
I thank you for your time and look forward to visiting with you.
Respectfully
Universal Tool Supply, Inc.
Horace D. Holmes
President
Horace:
A very unique approach. I hope it works for you.
Robert Johnson
-------------------------
Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com
Horace,
That is a unique approach indeed. My only concern would be if you unknowingly run into an investor (like I did in Manhattan last week) you may not have a letter in your pocket. In addition, many investors get hit all the time for requests and don`t want to read something but rather have something read (actually spoken) to them. Maybe a combination of both of these approaches will cover your bases? Good luck it sounds like you`re already making great progress.
That is a unique approach indeed. My only concern would be if you unknowingly run into an investor (like I did in Manhattan last week) you may not have a letter in your pocket. In addition, many investors get hit all the time for requests and don`t want to read something but rather have something read (actually spoken) to them. Maybe a combination of both of these approaches will cover your bases? Good luck it sounds like you`re already making great progress.
Chuck,
I just wanted to add my thoughts to this topic, first I love the prosper.com business model. I believe we some small improvements that it could really give some of the commercial lender, VC and Angel investors a run for their money. (No pun intended).
However, I had about an hour long discussion with them based around the same topics being discussed her in regards to business credit and person credit. Everything as of about a week ago was based on personal credit and is personally guaranteed.
I would have put a request for capital of around 1.2 Million if it were for business. In additional I believe most of the members on prosper.com are looking for these kinds of opportunities. I know I personally feel much safer buying business debt then personal debt.
I asked them when they would be adding the business side and they said hopefully in the near future.
If anyone has any thoughts or comments I would love to hear them.
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Erik
www.usspin.com
www.unitedbusinessalliance.com
I just wanted to add my thoughts to this topic, first I love the prosper.com business model. I believe we some small improvements that it could really give some of the commercial lender, VC and Angel investors a run for their money. (No pun intended).
However, I had about an hour long discussion with them based around the same topics being discussed her in regards to business credit and person credit. Everything as of about a week ago was based on personal credit and is personally guaranteed.
I would have put a request for capital of around 1.2 Million if it were for business. In additional I believe most of the members on prosper.com are looking for these kinds of opportunities. I know I personally feel much safer buying business debt then personal debt.
I asked them when they would be adding the business side and they said hopefully in the near future.
If anyone has any thoughts or comments I would love to hear them.
-------------------------
Erik
www.usspin.com
www.unitedbusinessalliance.com
No doubt there`s a niche focus given the lending levels Erik - I`m guessing they`re following the `walk before you run` philosophy of growing their own business, tackling the more easily managed issue of micro-loans based on personal credit. And there are a lot of businesses that need just that sort of small infusion of cash to generate solid returns and payments.
But you`re right that it becomes vastly more interesting to many when you add in the potential of a true marketplace for much higher levels of financing. That`s a thorny area though, we`ll have to see how it pans out for them.
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chuck fuller
But you`re right that it becomes vastly more interesting to many when you add in the potential of a true marketplace for much higher levels of financing. That`s a thorny area though, we`ll have to see how it pans out for them.
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chuck fuller
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