Small Business Finance Knowledge Base
How do I finance my small business with bad credit? Looking to start up my own business, however I am going to need $1500 up front and have terrible credit. Any suggestions on grants or loans that are available to me? The loan would be payed back in 6 months. Thanks for your help!
How can a minor (under 18) in the United States finance a small business? I need a loan, grant, investor, partner, etc. for startup costs. I don't want opinions. I just need as much information as you can give me. Thank you. I have a plan and am ready to go forward, but I don't have anything to invest. I am not going to sell the rights. I just want a straight answer to the question posed, like the answer by d_jayde_318.
Any tips on how to finance startup cost for small business with no money down but excellent credit? We are going to sell autos on eBay motors and off our lot, auto detailing and repairs. We have been to a couple of local banks and just don't quite seem to fit their criteria. We've always been self employed in some form so our tax returns are pathetic. We don't have any money to put into the business which, well, that's why we need financing. Am I to believe that a business can't be started unless you have thousands of your own money to put into it? SBA apparantly requires 25% of the loan amount to be available from us as cash. If I had that money, I probably wouldn't need much of a loan. Anyway, I'm a bit frustrated because we're not fitting into the commercial lending 'box'. We are talented intelligent people with excellent credit but short on cash. Any ideas?
Any suggestions for organizing small business finances? Specifically I am talking about the scheduling and record keeping for a very small business with two employees. I am not a strong book keeper, my business is highly creative and I tend to lose track of the paperwork. Any ideas?
Where is the best place to get small business financing? I just started a landscaping business about a year ago. I ran into very hard times in the fall and got behind on my payments which really screwed up my credit. Now I am full with jobs for almost this whole summer but I need a loan to combined all my loans into one to make it easier to make the payments but I can't get a loan with my bad credit.
Using a 401k Rollover To Finance a Small Business? I have heard that you can take a non-taxable rollover from an existing 401k to invest in a new company. The procedure would be to establish a 401k plan at the new company, rollover all or part of your old 401k, then use the assets to purchase stock in the new company. Do you feel that this is a) Legal b) Sensible
Where is the best place for small business financing with bad credit? I opened a flower shop over a year ago and I made the mistake of not incorporating, our profits are increasing but my credit has been going downhill. We are at the point where my personal funds that started this are depleted and need some working cap. Of course banks won't look at me because of my credit score. We have the potential to make $300,000 per year but without the proper cap we might not succeed in day to day operations.
Does anyone have any information regarding small business financing? I am trying to buy into a franchise with a friend and my husband. We have a 4 year old bankruptcy and are looking for less than $100,000 to open. The problem seems to be that there are no tangible assets in the type of business that we are looking to open. Are there any suggestions of lenders that may be willing to loan or a direction that we should go toward? Any suggestions are greatly appreciated.
trucking and small business an finance? i'am a truck driver of 22 yrs;i'am going into the business of own ing my own trk i know that maybe this is the wrong time to enter the busn.but i got to give it a shot . i'am knocking on 50 yrs.old with a 10 n 8 yr old i want to leave something for my wife n kids is there any sites that i can go to to get finacil help without all th e hopla? i dont want fail in this indefer. i need to make it this is a tuff industry i'am in.i dont want to fail for my familys sake. esp cially for my family's sake i need to leave something for my kid s to have an optian to take over when they get out of college thi s is a tough industry to compete in with all the rules an regulatio ns i dont want to fail please help with some good solid advise
can you use unsecured personal line of credit to finance a small business? I currently have a small online (home based) retail store. Only after a few months of selling, I see there is a lot of potential to be made. I want to make my next move and that is to expand (order more stocks). So, I was thinking about applying for an unsecured line of credit and use that money to finance my small business? Around 7k to 10k loan. Getting SBA loan seems impossible and using home equity line of credit is definitely out of the question since I do not own a house yet.
How do I as a Small Business report to credit agencies? I am a small business, but we finance parcels of land. How do I report to the credit agencies, I have looked at thier sites over and over and yes I guess I am missing something, cuz I can't figure out how to report the payments made to me. Any knowledgable help will be appreciated.
small business financing? I want to open up a small business and I don't know how to finance it. I have horrible credit (around 550) and I don't think I could get a business loan. Is there anything out there that I could use to help finance my business?
How should we go about obtaining finance for a small business? We are interested in buying a small cleaning business for around $35,000.00, which is in an area where we would like to move to. We have around $150,000 equity in our home, and we plan to sell our house to move to this area. The simple solution is to sell our house and use part of the net proceeds to purchase the business, however, the business is available now, and we do not know how long it would take to sell our house. We do not want to rely on the house selling, so we need to secure finance elsewhere. Unfortunately we do not have a spare $35,000 in cash we can use. I've looked into business loans, and it seems so involved for such a small amount, and quite risky as to whether you would obtain approval. Would it be better just to apply for a personal loan? Another option would be to refinance our existing home loan and borrow extra to cover the business, but there would be no point doing that if we are going to sell. Ofcourse another option is to rent out our house (and we could rent in the area we move to) until we are ready to sell. Another dilema I am unsure of, is if we go for a personal loan or refinance, do we tell the lender the truth (ie, that we're both about to quit our jobs and move), because if we do, I dont know they would be willing to give us finance! Help, I'm really confused and not sure where to start!!
What can I do with a surplus of cash in my small business? I have money in my small business' checking account. Can I invest it? What are the options and legalities of investing and earning interest for a business? I've only owned my business for 7 months, and do not have an educational background in business or finance, so sorry if my question sounds dumb.
How to obtain finance for small business? I have a small business and want obtain abaoaut Rs. 2 lacs for smoothly running it. I cannot complete bank formalities. What are the other avenues for getting this support?
Has any heard of the (Small Business Finance Centre)? Toronto is getting to expensive to try and better yourself and other companies with the government allowing user fees just to send an application. Researching how I can get government grant to start a new business and apply for any government assisted financial aide they advertise is out there and when I called the this company that looked like a government office website, I found out they charge up front user fees, than tell me there is no fee up front till the application is done to send me the documents. I asked a question to the person over the phone when did user fees apply send information to get applications for different government funding come out and the person kept avoiding to answer. Has anyone heard of this company and whats your opinion regarding these so - called third party angencies asking for fees when there ad does not state up front user and the email I was sent was not advising me about up front fees.
Small business financing strategy, whaddaya think? Hi, around the Christmas season, I plan to open a small business. I will be putting some of my money upfront for web design and some small expenses, but I need a loan for inventory, marketing, etc....I was thinking with all the 0% introductory offers I get in the mail from the credit card companies, that maybe I can use this as a short term financing. For instance, let's say I need 4000, and i get an offer that gives 0% financing on all purchases for, say, 12 months. If I know that I could pay it off within 12 months(because I will be holding on to my full time job until the biz gets off the ground, so money will still be coming in), then this is basically an interest free small biz loan. And if I need another loan, I would just find another such offer at the end of the 12 months. Has anyone ever tried this and what do you all think.
I am a finance professional. Want to set upa small business/ consultancy.? I also want to start a Social Responsibilty organisation as well. i am looking for people with same interest areas. Person should be highly passionate and dedication.We can start with small organisation and go on to scale up in few years. Please only passionate people respond from Capital markets in specific.
I want to get finance to start a small business.....how? I have fair...maybe even bad credit. under 5000 in credit card debt and want to start a wholesaling and import export small business, but want financing of like 5000- 10,000 to start it up. ive tried researching with grants but it's like 1 scam leads me to another. too many grant scam artists and i tried some loan websites but alot of them require good credit for business loans...........................................can anyone help me out with any options i can look up?
Where and how can small businesses get financed? It seems that most of the places one turns to for business financing from different investment sources, there' s a minimum of 100K anyone is willing to invest. How can a small business of 1-2 individuals, that presently has under $20,000 per year revenue get a investment loan-preferably angel investment for under $50,000? And for art-specialized business (art gallery, art studio, supplies sales, etc....)--in Bothell, WA?
Is it possible to recieve full financing on a small business loan? I'm looking to start a clothing retail business in about one year, and by then I'll have about one year's worth of credit (about to turn 18) history. Right now, I figure I'd need about 200k to get it up and running. My question is would it be possible at all to recieve full financing or should I take out student loans, invest them in the market, and use that for a down payment? Thanks in advance. Oh, and no bull**** solicitors either, I am not looking for a loan through Joe Schmo, the internet crook, I would just like to know how it can be done legitamentley. Thanks again.
New Small Business Financing? See Details? OK well I'm planning on opening my own Pet Sitting and Walking Business and I'm wondering if you are a first time business owner if there are any banks that will help you get started? I'm 24 Years old, and I don't have good credit at all. So I'm asking if anybody knows of any banks that are willing to help you or is there any type of loan/grant that a person could get that doesn't have to be payed back right away? I have it figured out that I would need to borrow 31,000 from a bank. and the reason I need to borrow from a bank or something like that is because I don't have any money to do it myself. Also I live in Canada. Thanks
Small business financing? I am ready with a business plan and want to approach a bank for possible financing, in general what amount of dollars can I look forward to the bank approving a first time small business owner?
What resources do you know of to obtain financing to buy a small business? My husband's boss recently offered to sell him the company. It is a very lucrative company and we are very serious about buying it. I need some help finding institutions that will finance such an endeavor. Any information helps! Thanks Also, my husband has been specialized in that field for ten years as a foreman of the company and I have a Business Administration degree and a Masters degree in Accounting so we have those bases covered !
I just started a small business i have two employee so far. One of them are asking a letter from work? which i suppose to write for him. My spelling and grammer sucks, and the letter is going out to some professnal office. Can anybody type for me what i should put on this letter of employment. I will fill the blanks if necessary. I need someone to write it professional. At least almost half page...Thank you. Category: Business & Finance > Small Business yes a letter of employment I will try to make it clear, Im the employer wanting to write a letter for my emplyee, that he works at my company how should i write it?
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