| Apr. 22 2008 at 11:05 PM |
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Hello I am trying to find out where I can find startup loan for a new business. I have poor credit due to a recent bankruptcy. I do have a great paying job and currently cleaning up my credit. I am working on opening a Discount Grocery Store. I know of one in a near by city who is making alot of money with this business. My wife has worked at the store and was a manger there.
I have over 15 years of experience in management in retail and other businesses. I have already put togeather a business plan and a projection on profits.
I need about $25,000.00 to start up and run for about three months this would be all costs needed to start.
If anyone can help or know where I can get this start up please let me know thanks.
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| Apr. 22 2008 at 11:12 PM |
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it seems that your best bet is going to be OPM..other people's money..you say you have a biz plan, great! do you feel it is rock solid? Imagine this- if you were presented with this business plan and you had $10k making small amounts of money in a CD account, would you lend it to that person that to start the discount grocery store? if not, then figure out why and go from there. OPM is definitely going to be the way for you! www.RunItByDeb.com
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| Apr. 22 2008 at 11:23 PM |
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Thanks and yes I feel pretty good about it. Is there a place to post for feedback concerning my biz plan? Also you say OPM is there a site with this info?
Thanks again
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| Apr. 23 2008 at 2:09 PM |
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ryanhere wrote:
Thanks and yes I feel pretty good about it. Is there a place to post for feedback concerning my biz plan? Also you say OPM is there a site with this info?
Thanks again
The "business planning" forum is intended to be used for questions - rather than a "full" review of the plan.
If you want someone to read your plan and give comments , I'd start with your local SCORE location. They might offer that as a free service.
If you want a full review there are several companies that offer such a service - for a modest price. 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
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| Apr. 29 2008 at 11:26 AM |
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You can get a lease even if you just filed.
You are not looking for a lot...you can go to Prosper.com (I think that is the name), or email me and I can give you a list of start-up leasing companies (expensive) Danahrdt@gmail.com
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| Apr. 29 2008 at 5:18 PM |
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well I checked prosper and with the bk they would not do anything but with leasing is that for equipment only or is that start up funds if so I am interested in more info
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| May. 01 2008 at 6:30 PM |
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Ryan,
This will be tough. However, you could insert Private Placement Memorandum attached to your Business Plan, so that you can raise the money. You may want to investigate this.
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| May. 01 2008 at 10:22 PM |
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Ryan
While it is true you will likely need OPM, it is unlikely that you will be able to raise 25k from any investors. You are much more likely to raise the capital as a part of a private debt solution. In this instance a private note-holder may provide you the funds for a piece of equity and structure repayment terms. In many cases you will have to make quarterly or monthly payments and you may pay a larger than normal interest rate, but the timeline will be much shorter. In addition, you really need to provide more info on your business to really get a determination of your options as my first question would be how you will get operations underway with such a small investment.
More info regarding the funding process can be found at www.developmentstyles.com, as the writer there is very knowledgeable about this.
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