I am the co-owner of a bootstrapped software startup that is almost a year old. Our intention was to build enough sales to help us sustain growth. With so many external factors against achieving good sales, we are forced to look for funds in the range of $85k. We`re not really keen on angel/vc funds, but at the same time we cannot offer much as collateral for bank loans. Any ideas or suggestions to fund our business would help us a lot.
Thanks
Girish.B
www.lytecube.com
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Business Forum
Looking at funding alternatives
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www.unsecuredsolutions.com offers collateral free business loans. www.thesnaploan.com does the same. The latter`s website seems to be down for renovation. I`m looking at unsecured solutions, myself. It`s not very professional to take a website offline for so long. When I renovate my own forums, the replacement is done before the site goes down. SNAPLoan isn`t inspiring me with confidence.
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Making limitless possibilities much more limited.
I did manage to google up some contact info for snaploan. This number is supposedly for a Michael Edgings, Snap Financial Services. 1-770-932-2035.
Here`s the number for unsecured solutions, which you can get off their site as well. 1-877-522-4835.
I can`t personally vouch for these companies, yet. I`ll certainly report my success or lack thereof when I go for my loan.
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Making limitless possibilities much more limited.
Thanks for the tip Matt, but the snap website seems to be under construction. I also figured some banks are also offering unsecured loans for businesses, will keep you posted on how it goes.
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Hello,
I am willing to fund your project as long as it is worth it.
Get back to me with detailed information as regards to that to proceed.
Sincerely, ch15@ymail.com
I am willing to fund your project as long as it is worth it.
Get back to me with detailed information as regards to that to proceed.
Sincerely, ch15@ymail.com
Hey bobck this forum has "fairly intelligent" users so dont bother wasting your spam/scam skills.
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I am the co-owner of a bootstrapped software startup that is almost a year old. Our intention was to build enough sales to help us sustain growth. With so many external factors against achieving good sales, we are forced to look for funds in the range of $85k. We`re not really keen on angel/vc funds, but at the same time we cannot offer much as collateral for bank loans. Any ideas or suggestions to fund our business would help us a lot.
Thanks
Girish.B
www.lytecube.com
Thanks
Girish.B
www.lytecube.com
Without having more details, I can only offer some general thoughts.
- The amount you seek ($85,000) is well below the usual for a VC firm or other institutional investor. It`s also on the low side for a "professional" angel or angel group
- Since the professional investor is looking for situations that offer huge potential returns, you should have a long term plan that will yield a big ROI. Only needing $85,000 doesn`t make that impression.
- Consider looking for private investor(s) rather than professional angel.
- Your chances for success are increased if you are fully Capital Ready when you start your quest.
If you`d like to discuss the specifics of your situation - feel free to contact me directly or send me a PM
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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
Is it a B2B or B2C application? If B2B, can you round up 2-3 of your initial customers and have them foot the bill on the front end for a reward on the back end. You can either rebate them later or offer discounts until they are paid off with interest.
@robertj: I agree that approaching private investors is a good option, I`ll PM on how to proceed on those lines.
@EnginnersCanSell: First of all thats a fantastic blog name, I have you bookmarked. Its a B2C application that will eventually become a B2B product. And with a low entry price, we need to build up huge amount of sales to meet our capital demands. But good advice for B2B though.
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@EnginnersCanSell: First of all thats a fantastic blog name, I have you bookmarked. Its a B2C application that will eventually become a B2B product. And with a low entry price, we need to build up huge amount of sales to meet our capital demands. But good advice for B2B though.
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Hey Everyone....
I`m currently finishing my Business Plan for my web based business. I`m looking at finding funding. I`ve already figured that the business is lucrative and will pay for itself in the first couple of months. (based on the fact that it will cost me around 10k to start up, and under 2k to operate) My problem is that My Credit was damaged pretty badly from my careless younger past life... Now that I`ve Grown as a man and found my goals and focused myself in a professional manner, I`m at a crossroad with my credit situation. Can I legally accept donations, are people out there willing to donate money for someone like me to start up my business? The thing is, Given our current economic sinkhole we`re in as a nation, and add in the fact my personal credit is unsatisfactory at best, I Cannot Get A Business Loan. Please Help. I`m Running Short on Time and refuse to abandon my goal to Launch my business.....?????
It`s a bad time to look for any investment. There is very little money out there at the moment. However, I think your business will get interest from business angels. You might be able to get investment because of your stage of development and the quality of your product.
There seems to be a lot of scope to sell consulting and bespoke services on the back of your platform. Also, training and an e-learning package may help you make some more cash. However, you probably have looked at these avenues already.
There seems to be a lot of scope to sell consulting and bespoke services on the back of your platform. Also, training and an e-learning package may help you make some more cash. However, you probably have looked at these avenues already.
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