Home: Message List - Financing needed- is private the only way???

Re: Financing needed- is private the only way???

MyCapital.com — Sat, 13 Jun 2009 05:50:38 GMT

Did you ever consider hiring people overseas to reduce costs? Many companies are doing this. This is not privilege of big firms like IBM or Intel. With Internet, you should be able to find some manufacturing outsourcing companies in China or India or E. Europe. Maybe try alibaba.com.

Re: Financing needed- is private the only way???

CCS_INC — Wed, 10 Jun 2009 00:51:57 GMT

I think I may have an answer to each of your concerns...
1. Good personal credit/ Personal Assets: Never use your personal credit to fund your business. Many people make this mistake. According the SBA, 95% of all small businesses fail within the first year. I guess you were part of the remaining 5% because to do 1mill in 2yrs in sales is great. Now the other 95% of the businesses that failed that used their personal credit to fund their business are in for another rude awakening. Now they have to face the facts and deal with issues such as credit card debt and possibly foreclosure. Mistakes with personal credit are used with home equity loans, personal credit cards, and personal loans.

2. Business Credit Score: In my opinion and experience, this is by far the way to go. Business Credit lets you keep your business assets separate from personal. It is imperative that you register with Dunn and Bradstreet as well as Experian Business( in which you will automatically report). Believe it not there are many credit cards available (Visa and Mastercard (and even American Express ;-p ) that can be obtained without a personal guarantee. But in order to take advantage you need to start building business credit. If you have any questions please email me at CorporateCommercialServices@yahoo.com and I will gladly assist you!
P.S. If you email me, I'll show you how to obtain a Dunns number, and I'll show you how to look at your D&B business credit profile for free! But you have to email me. Thanks

Re: Financing needed- is private the only way???

Unlikeable — Tue, 09 Jun 2009 16:05:46 GMT

berkompaske,

Sorry to hear that your having trouble getting capitol!! I would like to talk and see if i have some programs that would fit your needs. If the banks told you no, then SCORE won't be able to help either cause they go through the BANKS!!
My email address is bfaulkner@motherfund.com direct line(469)402-1125

Brian Faulkner
469-402-1125
www.motherfund.com
bfaulkner@motherfund.com

Re: Financing needed- is private the only way???

jim531 — Tue, 09 Jun 2009 15:40:35 GMT

Please send me an email jimsteele531@aol.com

Re: Financing needed- is private the only way???

Intelicapital — Tue, 09 Jun 2009 15:26:50 GMT

We have a system that may suit your needs depending on a couple factors. Please contact me at fundsource@intelicapital.com or 817-701-2015 ext 201

Thanks,
Brian

Re: Financing needed- is private the only way???

berkompaske — Tue, 09 Jun 2009 13:43:35 GMT

I already have all of that stuff done....we have all of our ducks in a row except the personal credit issues, uuuugh! any other advice?

Re: Financing needed- is private the only way???

National_MSP — Tue, 09 Jun 2009 12:51:15 GMT

Greetings. Perhaps we could offer you a cash advance up to 125% of your gross monthly business volume, based and secured primarily on future credit card receipts. To do so, you would have to allow us to lower your merchant service costs (if you have an existing account) by becoming your merchant service provider. Send an email to prestigemerchantservices@hotmail.com

Re: Financing needed- is private the only way???

LUCKIEST — Tue, 09 Jun 2009 11:23:24 GMT

Financing needed, Welcome

Your sales numbers sound good for a company selling for 1 year. If you want to raise money, you need to develop both a Business and Marketing plan. The Plan is one of the first items a lender or investor will want to read. Do you have an Accountant??

Do you know about SCORE?? SCORE is FREE

LUCKIEST

Financing needed- is private the only way???

berkompaske — Tue, 09 Jun 2009 03:02:58 GMT

I'm hoping to get some good advice here. If you take out start up expenses, we are doing very well since we incorporated 2 years ago(actually selling onlly 1 year!). We are expected to be at almost $1M this year. The issue is that we still have just a few more start up expenses( testing,Manufacturing, Marketing, Sales Reps etc) that continue to take the profit that would normally be our operating capital. We are in between Start up and Expansion. I'm having trouble getting financing the traditional ways b/c we LACK the following:
1) good personal credit scores- we chose to fund our business instead of the mortgage- well worth it, but hard on the score!
2) Personal Assets/collateral- We no longer own a home, and have only a small amount of actual business assets
3) Business Credit Score- Just realized I need to apply to Dunn and Bradstreet!

Any advice here? I thought Obama was going to help people like us who are hard working, hiring employees,women owned, etc. yet, the criteria STILL seems too strict! Help!!