Forums: Discussions for entrepreneurs and small business.

Thanks for the info. I ran into that article a few week ago also. I`ll update everyone what Corporate Credit Concepts does for me. I am currently working with them to get funding for my start up LLC.

In a previous post you said you were getting approved for an SBA loan

-------------------------

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

Yes, I got the initial approval from my broker and the banker who he is working with. According to my broker, we are waiting for the loan committee and the underwriting department for the final approval (Thats the word I got yesterday and I thing its not a quick process).

I should find out today if everything is a "go" or if there are other conditions/requirements needed. Regardless of what happens, I am working with CCC and I should get a min. 75k of cash credit lines in about 45-60days. I am ready to sign the lease so hopefully everything goes well.

Hi Lee, sounds like an interesting idea and you are clearly committed. However, two points to consider.

Do you really want to offer personal guarantees to potential investors - friends/family/banks maybe, but to people you dont really know?

Secondly 10% is attractive when rates are at 3%. However, presently an investor can get 5% on funds in the bank or if they invest outside the US can often get 8-9% in markets such as Australia with little risk. So you need to remember the relationship between risk and return on any investment. Higher the risk, higher the return required to take that risk.

When i invest in small or startup businesses I am looking for capital growth over time to maximise the turn on my original investment and an exit strategy. I know the risks going in, else I wouldnt be investing, therefore the business model and its potential growth is the key. 

Food for thought.

 

-------------------------

Business Development Services

Hi Lee,

Any luck on getting your funding?  You said you`d keep us updated.  Hope it`s going well!

-------------------------

Raise Capital in 90 Days Online Learn How This Works Bedzzz Inn, Inc Raised $92,867 with this system!

Well... spoke with business specialist from Wells Fargo. He faxed me the application for different loan programs that they have. He said that he should be able to get me 100k in combine business credit (30k business loan, 40 business line of credit, 30k in business credit card). This is only one bank. CCC said if i need additional funding they`ll forward me to another bank who may be able to do the same. But Im still waiting on the bank for their response.....

Cool!  It sounds like you may finally get the funding you`ve been seeking!  Good luck and good fortune!

-------------------------

Raise Capital in 90 Days Online Learn How This Works Bedzzz Inn, Inc Raised $92,867 with this system!

yes.. hopefully. The SBA loan is taking forever. They wanted my fingerprints, then they wanted a letter from the court about my misdeanor. the court wouldnt issue a statement...so on so on... so I dont even know what is going to happen with that. But hopefully this business line of credit works out for me.

 

 

 I am in agreement with pagejames, that angel investors are the way to go. There are alot of online companies to choise from, the one that I have had the best results with is www.breadstreet.com. The investors are friendly and you get alot of customer support with this company.