My wife and I currently both work 40 hr a week jobs. Our household income is around $60,000 per year. We are starting a wedding videography business and plan on doing that full time within the next 3 years.
We are looking to secure a loan of $20,000 for equipment costs. Our marketing expenses can come out of pocket from out day jobs. We will shoot the weddings on the weekends to maintain our normal work schedule. We already have a website and shot 7 free weddings in 2011/2012 to create a portfolio to show prospective clients.
What is the best way to go about getting a loan? It seems an SBA 7a loan is exactly what I'm looking for, but I figured I'd ask around.
I do not yet have a business license in the state of Colorado, and I'm pretty sure that is necessary in order to obtain a loan.
Any help with where I go now would be great! Thanks!