Comments on: Business Financing Alternatives for Growing Companies

By: richards150

richards150 — Sat, 31 Oct 2009 21:29:59 +0000

Well, it's true that Bank needs you to have a business running in first place, so the Bank could keep your business if there's default payment.

If you're the Bank, would you trust anybody if it's your money? That's why you hear so many times, first people borrow money from their parents or their relative. There's no way Bank would do otherwise.

That's why it's not easy for everyone to set business. That's why there's many people working just to pool money so they can starts business.

So if you need financing, then you should find other way except bank or capital market, e.g. Venture Capital.

The points is setting business is not an easy task, but good luck for you.

By: Joseph V

Joseph V — Sat, 31 Oct 2009 21:27:31 +0000

depending on the type of bussiness you are going into i would say you need some capital. I started a small construction company, and the only capital i needed was for insurance and licenses. The reason I did'nt need a lot of capital was that i did labor bibs only and required a payment every friday. If the customer wanted me to pick up material then they would give me cash or a check which i kept in my bussiness acct. and at the end i would turn over bills and balance if any.

By: David A

David A — Sat, 31 Oct 2009 18:17:35 +0000

By: KitKat

KitKat — Sat, 31 Oct 2009 18:00:24 +0000

You've already talked to thte SBA and they told you there are NO GRANTS — so believe them that there are indeed no grants for starting a business

From the SBA website http://www.sba.gov/mostrequesteditems/CON_FAQ2.html

"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."

Ignore what you "heard" that there are government grants for starting a business. Those are LIES perpetuated by scammers hoping to prey on gullible people like you who DESPERATELY wants to believe that there are grant monies available.

You may want to read the warnings FTC has issued against these "grant" companies:

http://www.ftc.gov/opa/2004/03/grantresources.htm
http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt134.htm

Here is also one of the warnings issued by the Better Business Bureau http://www.concord.bbb.org/tips_timesharescams.html

Forget about grants. Unless you want to be SCAMMED.

Unfortunately, your credit history seems to be poor if you have just filed bankruptcy and your chances in getting a loan (even a government guaranteed loan is next to nothing.

I suggest you read the following books to get ideas of how to finance your business:

Financing Your Small Business http://www.amazon.com/exec/obidos/ASIN/1572484500/powerhomebizguid
Small Business Financing: How and Where To Get It http://www.amazon.com/exec/obidos/ASIN/0808007386/powerhomebizguid
Financing the Small Business: A Complete Guide to Obtaining Bank Loans and All Other Types of Financing http://www.amazon.com/exec/obidos/ASIN/1580626815/powerhomebizguid
The SBA Loan Book http://www.amazon.com/exec/obidos/ASIN/158062202X/powerhomebizguid
Angel Capital : How to Raise Early-Stage Private Equity Financing http://www.amazon.com/exec/obidos/ASIN/0471690635/powerhomebizguid
Financing Your Small Business (Barron's Business Library Series) http://www.amazon.com/exec/obidos/ASIN/0764124897/powerhomebizguid

Otherwise, wait for your credit situation to improve and learn more about running a restaurant before you embark on your desire to start your dream business. Right now, your only chance is to find an investor who will bankroll your restaurant — and that is not easy to find.

By: bellpawt

bellpawt — Thu, 29 Oct 2009 00:34:40 +0000

….a bugs struggles in the whirl pool before going down the plug hole

By: Toto Mimo

Toto Mimo — Wed, 28 Oct 2009 18:06:41 +0000

By: gargoyle

gargoyle — Wed, 28 Oct 2009 17:24:42 +0000

Business Loans are getting tougher day by day as the market crash in Banking and Finance industry. But still in this time, I saw a lot of people getting getting business loan. Their secret being online loan lenders. There are lot of online business loan lenders willing to give you loan. So try to get in touch with them and explain them about the business plan and get the loan.
Below website will help you in getting a business loan.

http://loan-guides.net/business-loan