Forums: Discussions for entrepreneurs and small business.

I am looking for someone who can offer $20,000 in the form of a sponsorship to start up a luxury real estate broker business.  The money would be used for a web site with the latest technology which supports iPad functionality, branding, and initial advertising.  I know this request sounds off-putting and not at all how business are usually started but my situation is this:  I am one of many Americans who has been unemployed for over a year.  My husband and I had a failed business that we sold last year for much less than what we bought it for (a restaurant) and we are still paying on the business loan for that.  My husband, a chef, ran the business while I worked as a paralegal in contract law which is where my background is.  When my former employer did a large lay-off last year I was on that list of terminations.  I have not been successful in landing a similar position and am financially tapped and struggling.  My only resource is the fact that I possess a real estate license for Washington State.  I've just spoken with one of the leading (if not the best) promoters of agents in luxury markets who can help me get a successful jump on things if I work with them to do my PR and marketing for me - they are out of California.  I am on a second extension of unemployment and would very much like to get off of it (as I feel I'm adding to the national debt problem) and get back into the workplace where I can put some value back into my community which includes company HQs such as Microsoft, Starbucks, and Nordstrom.  I don't know how long it would take for me to be able to pay back this sum of money (hopefully quickly with the PR firm I mentioned).  So a sponsorship to get the business going would get me off the government funds and back into the workplace.  I don't know how sponsorships work tax-wise, but there may be tax advantages there as well.  Any suggestions or thoughts or anyone who may want to participate in this with me would be most appreciated.  Thanks very much...

Was the restaurant a franchise?

No - the restaurant was a single business in a stand-alone building on the lake just a few miles out of Seattle.  Quite a beautiful view but just too expensive to support in the current recessive market. 

Contact your local Small Business Association (SBA) to see what grants or Small Business Loans you may qualify. There are quite a few for women.

Contact SCORE for a mentor. They are retired execs.  Be discerning. Ask for someone with a background in your field. You may have to wait as they are volunteers and schedule when they are available - but it can be priceless and FREE consultation.

You may be able to find a local Angel Investor or qualify for a Peer Loan.

If you have happy former clients (referrals), that helps too.

Good luck!

I did speak with the SCORE advisor in my area for women in business.  She told me anyone who thinks the government gives free money (or grants) to individuals is grossly mistaken.  The government only gives money at the state level to distribute for certain pre-approved programs (like agriculture advancement).  No monies are given by the government to individual parties.  Any web site or tv commercial that says differently is a scam, according my source at SCORE.

I've had an SBA loan before and they do require money down to get the loan, which I currently do not have.

Thanks very much for your suggestions.  I am still searching for a solution...

Stephanie,

Have you looked into a SBA community express loan?

If you can qualify - it might be a solution.

Feel free to contact me directly for more information.