Forums: Discussions for entrepreneurs and small business.

Hello Everyone,

    Sorry this is my first post, however I find myself in a unique situation.  I pitched an idea to a school district that I know of (I use to work there and know the superattendent well) it turns out he put me in front of 3 other school districts because he liked the idea so much that now all 4 of them are interested. 

    I will post my idea later (I don`t want anyone running off with it ) but they combined I can take in 800,000 dollars a year with just these 4 schools.  Only catch, I have NO SOURCE of funding, PERIOD.

    If I went to a bank or venture capitalist group and showed them signatures verifiying contracts if I can get the capital to start this comapy, would they loan or invest in my idea?  If not, how can I go about this if I already have clients interested?

Thanks!
Rob

Rob,

Signed contracts are used as and can be used as collateral. I have done it. It`s a great way to start a business. Really depends on the lender. But it sounds to me as if you have something very concrete in hand. I`m no lawyer, but if I were you, I`d spend some money and get some good contracts written before going to the lender and taking their money.

R@

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Richard Arnold · Key Concept Writers · Business Communication: The "Key" To Success· Law of Attraction Blog · Life Ain`t Brain Surgery Blog

Rob,

It`s possible that purchase order financing is an option that might make sense for you.  Take a look at an article I`ve written on the subject at http://marshall-showmethemoney.blogspot.com/2006/06/purchase -order-financing-tool-for.html and see if it`s helpful.

Feel free to call me if you have any questions and good luck!

Marshall Lebovits