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Re: Loan needed for start-up Business

mharvey — Sun, 22 Jun 2008 21:55:27 GMT

As for opening the business, as soon as possible. We have a business name chosen, but as far as getting the license for the business, we have to first have it inspected.
For the funding, we are working on that. The building we are looking at is a total of 34,500. We plan on placing 8,000 down and the payments would be roughly around 188 a month. But the majority of the cost would go towards repairing the building to have it set up for the tattoo shop. Needs some plumbing work and general repairs, such as walls, ceiling, paint and flooring. we are figuring out what exactly needs to be done and what the price would be. For how long, i'm not for sure. What would be a good idea. And independent contractors, just because most of the people who would work with us would be guess artist and only be there for a short mount of time.

Re: Loan needed for start-up Business

LUCKIEST — Sun, 22 Jun 2008 20:43:17 GMT

Loan needed for start-up Business

"My husband and I are planning on opening a tattoo shop very soon" HOW SOON??
Do you have a Business Name?? Next you need a Federal I D Number.

"Now we just need the funding to start" HOW MUCH AND FOR HOW LONG??

Yes you should continue working on a business plan. The bus plan serves as an assessment tool.
As you work your way through the plan, it will help you reaffirm the viability of your ideas.
"In the future, is we decide to hire anyone else, it would be as independent contractor".
BAD IDEA The IRS does NOT Independent Contractors

You should also contact SCORE. SCORE is FREE and can help you.

Good luck, LUCKIEST

Loan needed for start-up Business

mharvey — Sun, 22 Jun 2008 18:26:10 GMT

My husband and I are planning on opening a tattoo shop very soon. We have found a building for a great price and now we just need the funding to start. I have no credit and when we checked his, his credit was fair. He just had one mark against him on an unpaid bill. We got that taken care of as to show the bill as paid on his credit report. I am wondering about getting a loan. The only thing that we have for collateral is a 2002 4-runner. I also have a trust account that was setup for me when my father passed away, but it is setup to where i get a certain amount when I turn certain ages. I am wondering if i would be able to explain that to a bank or other loan agency. We have been working on a business plan. As far as the loan, we would use that to place a down payment on the building, repairs to the building, supplies need at the beginning, etc. There's not going to be a payroll as we are going to be the only two working there. Plus in the future, is we decide to hire anyone else, it would be as independent contractors. Please let me know as much info as possible. If there are any questions, please let me know and i can answer them to get the information that we are needing.

Thank you for your time...
Maeve Harvey