Home: Message List - STARTUP LOAN FOR AN ICE CREAM STORE

Re: STARTUP LOAN FOR AN ICE CREAM STORE

NoBullFunding — Fri, 19 Dec 2008 20:56:20 GMT

The ice cream industry is prohibted among many lenders due to their seasonality. I tell you from experience (a failed experience) that its a hard business. You have to sell A LOT of product in a short amount of time. Without a premium location, it's an uphill battle.

Why did you pick this particular type of business?

Re: STARTUP LOAN FOR AN ICE CREAM STORE

Bridge — Thu, 18 Dec 2008 14:20:22 GMT

You should look to buy an established business instead.

You will have better luck gettng a loan with an established business with a history of profits. SBA guarnteed loans generally require 20% down - perhaps more with your credit score.

You might also try seller fianncing when buying an established business - avioding banks altogether.

Best of luck,
Greg Dupuis
Founder, Bridge Ventures, LLC
www.bridgeventuresllc.com

Re: STARTUP LOAN FOR AN ICE CREAM STORE

LUCKIEST — Thu, 18 Dec 2008 12:40:27 GMT

ICE CREAM STORE, Welcome Giorgio

Do you have a location?? How much of a loan do you need??

Can I read your business plan?? email it to pdeig@juno.com

Thanks, LUCKIEST

STARTUP LOAN FOR AN ICE CREAM STORE

Er_Romanaccio — Thu, 18 Dec 2008 01:14:48 GMT

I was recenlty turned down for a SBA loan to start my business. I have a strong business plan and all paperwork required. However my FICO socre is only 650 and I do not have nay collateral to offer other than the assets I am purchasing.

Can anyone help with any advice?