I'm starting a small siding company and need some startup money, but have little down and less than perfect credit. I have 10 years of experience and am tired of making someone else all the money and me nothing to show for my efforts.
2006-07-06 16:30:37 · 4 answers · asked by seamlessB 1 in Business & Finance ➔ Small Business
The business of lending is a dense one and should be researched properly. To get started, I suggest contacting the Small Business Administration (SBA). Entrepreneur also offers a great site dedicated to money & finance – see below for both.
Research, research, research – this cannot be stressed enough. Read as much as you can about the process. Here are some book titles that are relevant:
* How to Get a Small Business Loan: A Banker Shows You Exactly What to Do to Get a Loan (Small Business Series, No 1) by Bryan E. Milling
* The SBA Loan Book: Get A Small Business Loan--even With Poor Credit, Weak Collateral, And No Experience by Charles H. Green
* The Insider's Guide to Small Business Loans by Dan M. Koehler
There are plenty of free informational resources out there. Check the source box for links to articles.
Hope that helps! I wish you much success & happiness in all your ventures!
2006-07-07 02:32:55 · answer #1 · answered by TM Express™ 7 · 0⤊ 0⤋
There are angel investors looking for reasonable opportunities. Sometimes your local SBDC can help you or Chamber of Commerce. This is a meeting of business people so it doesn't hurt to attend and try to meet people.
Sit down and build yourself a good business plan before you approach anyone. You should have alternatives ready to discuss not just a single approach.
Are you willing to have a partner?
Would you be willing to have someone else handle (or oversee) the finances of the company?
What would your exit strategy be?
What would you do if you don't meet the goals you set?
2006-07-07 00:54:20 · answer #2 · answered by Michael Myklin 3 · 0⤊ 0⤋
look on the net to find how to write a business plan that shows earnings and growth and so forth.then present it to your financial institution.or investment group.if you have any worthwhile collateral to put up couldn't hurt either. good luck p.s when your writing that business plan....take your time, a good one cannot be written overnight.what kind of business are you in?you sound like me when i was 18
2006-07-06 18:01:35 · answer #3 · answered by eric b 2 · 0⤊ 0⤋
If you cannot handle your own personal finances what makes you think you can handle a business?
2006-07-06 19:27:40 · answer #4 · answered by Anonymous · 0⤊ 0⤋