Looking to start a business?

Question

I've been in the golf business for over 12 years and would like to start my own consierge business - book golf trips, set up resort stays etc. I figure I need about $15000 - $20000 to start the ball rolling. I have poor credit, do I have different option when applying for business credit?

Answer 1

Associations may be a good avenue to explore. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 2

Since the starting amount you need is not too much a home equity loan would probably provide the money at the best interest. If credit cards are an option and you can get low introductory interest on a lump sum that may be a viable alternative. Revolving those balances with new credit cards are a way to generate start up cash and manage your payments.

Answer 3

A good home based business is with travel. The internet is responsible for over 80 percent of the travel bookings. Additionally, having your own on line travel store will give you and your friends the opportunity to book golf vacations and tee times. Additionally, since you, your friends and family travel, why not earn some extra money and enjoy the benefits.

http://www.goytbnow.com/amazingtoursandtravel

http://www.ytbgolf.com/amazingtoursandtravel
(this is a sample golf site, imagine if this was your golf site)

note: Save your money, because it will not cost you anything near the figures you quoted? Additionally, you do not need to apply for business credit for a home based travel biz.

YTB started in 2001 with 3 people and now has over 100,0000 on line travel store owners.

Answer 4

Community Express Loan Program

The SBA Community Express program is BLX's newest commercial loan product and is specifically designed to increase working capital, help business owners meet daily operating expenses and accelerate growth. Community Express loans are an inexpensive alternative to expensive credit card debt, and provide a regular payment schedule.

BLX Community Express Loan Program - ($5,000 to $50,000)
Purpose: This SBA commercial business loan is for working capital purposes.

Loan Amount: Our SBA Community Express loan amounts ranges from $5,000 to $50,000

Offered To: Minorities, Women, Veterans and business owners in Low to Moderate Income (LMI) areas and other SBA designated areas.

Collateral: None Required - This is an unsecured loan program.

Interest Rate: Floating rate, 4.75% over WSJ prime, adjusted quarterly

Term: Typically 10 years, fully amortized

Prepayment Penalty: No Prepayment Penalty

Recourse: Full guarantee of all principals.

Diversity: Nationwide, all industries considered. Start up businesses allowed

Financial Data: No tax returns are required.
Third Party Reports: No appraisals or environmental reports are required.

Funding Requirement: Borrowers must receive a Community Express Certificate of Technical Assistance from an SBA approved Technical Assistance Provider.