Home: Message List - Where do we go, when the banks say "NO"?

Re: Where do we go, when the banks say "NO"?

Broc51 — Sat, 07 Mar 2009 21:18:49 GMT

Tim, CaesarInc3 is a company that links people with lenders, and the service is fast and free. If you have an executive summary, the process is really simple. Check out their website www.caesarinc3.com. This company is working with lenders that are aligning with the "New Marshall Plan" and the desire to stimulate the economy and create jobs. It is worth a shot...

Re: Where do we go, when the banks say "NO"?

tim13ga — Mon, 04 Aug 2008 15:55:52 GMT

BigBizBob,

Actualy the business is not drafting. (Please see the post: "Caregiver... With a plan... Needs $15,000.00 Unsecured Loan...") I am a drafter that can not buy a job. It is a StarScapes business that I want to start. It would allow me to earn a great living during the few hours that my wife attends a local adult day health center. (to see what StarScapes is please go to www.starscapes.com)

Even finding local work has been a nightmare given the few hours I have to work outside the home. (Winder, GA aint that big.) When you are 48, employers can get people half your age without the time limitations and medical baggage.

About your post: even though you leaned to the drafting question, you did spend a-lot of time in it. Thank you. I do appreciate your effort.

I would not even consider a drafting from home business right now. There is little to no call for any draftsman while the housing bust is going on...

Thanks agian,
Tim...

Re: Where do we go, when the banks say "NO"?

tim13ga — Mon, 04 Aug 2008 15:37:28 GMT

Iwrite,

I do not need it all from one source. I would accept it from many sources. my biggest problem is finding the sources to combine. I could start this thing as low as $5,000.00 It would allow me to buy and start the business. The other was for keeping the household afloat while the business got going.

Any source of loans lower than the first $5,000.00 I would not be able to service the debt until the business started. That is the pickle I find myself in.

Tim...

Re: Where do we go, when the banks say "NO"?

tim13ga — Mon, 04 Aug 2008 15:29:02 GMT

Diva,

Don't get me wrong, your answers helped, but I was looking for something a little different. I appreciate your input, your thoughts, and your admonitions.

Thanks again,
Tim...

Re: Where do we go, when the banks say "NO"?

BigBizBob — Tue, 29 Jul 2008 18:02:46 GMT

Well, I'm assuming you have all the necesary info on FICO & NIRVANA, and that you could now write a nice piece for the local paper on what the scores mean, no credit etc. I don't know if your question was answered or not, but; reading the answers I don't think so. Really, what your asking is how do you fund your drafting (I assume it's drafting) business, Here are a few question for you to answer about yourself:

Note: I'm also assuming that you would be working out of the house, since you are also taking care of your wife.

- How long have you been thinking of this business, a couple of weeks? Months? Years?

- Is this just a thought as you try to get a "real" job?, or is this something that you believe in, and are committed to achieving?

- Are you currently working the business now trying to drum up customers?

- If not, why not? Whats stopping you?

- Do you already have customers that would be willing to give you a letter of intent to do business with you.
If so, contact them for the letter, you could use those as evidence for viability of your business with your bank, or any bank in your area.

- What is the money to be used for: Start-up expenses, equipment, advertising, working capital etc. How much in each category is the committment.

- Do you really need this money to get started? or Can you make do without it, and start now!!!!!!!

- Do you already have the equipment necessary? Plotters, Printers, Copiers, Computer, software, etc.

If you don't have the necessary equipment, contact the Mfg's HP, Dell, etc to see if they will finance your equipment.

- If that doesn't work, then utilize your local Copy stores, The UPS Store, AIM Mail Centers, Kinko's etc, and utilize their equipment and pass on the charges plus usage fees to your customers. You can even send your drafting jobs online to these companies, and they can print out and mail the copies to your customer job site, or back to you. You probably even have a local Graphics store in your area or county that you can work with and get some 30 day terms

- Realistically, how much do you need to earn a good living?

- How much do you need to charge per job to just break even.

- Looking at the above answers, Are the answers to daunting for you, and are you just dreaming about owning your own business, or......Are you committed to do anything to make a success of your business.

If the answer is your committed to being a success, then you need to start refocusing your efforts on getting your business off the ground. This is called "Bootstrapping", Taking what you currently have and start your business and paying for it as you go along. If you have a lot of experience in your field, your an expert.

- Do you have the credentials and influence in your field to command the necessary prices for your expertise?

- Have you joined any affiliate membership groups, any networking groups,

You have to make a commitment to succeed, your efforts in the beginning is what is going to determine your success in the future. You can sit around all day reading about getting into a business, but at the end of the day, you still don't have a business, you're not earning the money you need to survive. Don't let NO determine your selfworth....

I can say this.....If you get your business going now, no matter how tight your budget is, the better your chances are of getting the revenue you need in the future to expand your business.

There is nothing better than being a business owner, but; in order for it to succeed, you have to leave all the negative thoughts at the door. I don't care if you have no score, or too low a score.....You have only believe that You and only You can do Your business the best way, and you demonstrate that by leading by example.....

Re: Where do we go, when the banks say "NO"?

Iwrite — Mon, 28 Jul 2008 23:09:09 GMT

I think if you email the administrator you can be removed. In the meantime, a real world solution is to simply delete the emails without opening them. That should be a simple fix. No one is forcing you to open your emails. I delete plenty of emails each day without ever reading them.

I am puzzled that you felt it necessary to take one more parting shot before you go. If you are as busy as you claim, don't waste your time - simply go. We are all busy trying to build our businesses, so I am not going to feel sorry for you. It is a decision you as an adult made. You have options but please do not try to blame this forum for the position you're in. It is the level of your experience and preparation that has you where you are. You could not find a source for funding here, imagine that. No where on this site does it claim to be a source for funding, it is your unrealistic expectations that have you frustrated. And look at how you respond. You lash out at people who have nothing to do with the situation you have placed yourself.

The real world can be cold and hard, the best thing you could have found here was support and understanding - anything else is extra. I understand being desperate, been there and done that, that's why I work hard to be nice to others struggling. But I have to say to you don't burn all your bridges, you never know where help may one day come from.

Good luck and I really hope you find what you are looking for. Much success.

Re: Where do we go, when the banks say "NO"?

Manik67 — Mon, 28 Jul 2008 21:47:27 GMT

Dear All
With respect to all of you-I am expressing myself that I got nothing fother than wasting my time to join and stay in this community. I am a small business owner, working 90 hour per week, now I am feeling I lost lots of my time to open and read all those intelectual article far, faar, fa...r from the real thing I wanted to read here.
Now I just want to get out from this community-I am frequently putting this site as spam, but still getting mail. Would anybody please help me out and tell me how I may cancel my membership and same some of my working time?
Thanks-

Re: Where do we go, when the banks say "NO"?

DomainDiva — Mon, 28 Jul 2008 20:16:49 GMT

You asked the question.. I gave you my answers and they were of no help.

Re: Where do we go, when the banks say "NO"?

Iwrite — Mon, 28 Jul 2008 18:19:21 GMT

Does it have to be one lump sum or could you borrow a portion from more than one finance company?

If you can't get all you need from one source what about combining a group of sources. I know that is more leg work but what if 3 or 4 sources combined could give you what you need? No, it isn't the best solution but it might get you the funds you need. Or maybe you have thought of that.

That's all I've got.

Re: Where do we go, when the banks say "NO"?

tim13ga — Mon, 28 Jul 2008 16:54:04 GMT

I know I stirred up a hornets nest by bringing up the subject of trying to live with out a stellar fico. I still have not gotten the core question answered. Where to go, when banks say no?

So far...

Family... no.
Friends... Would love to help, but alas, no.
Other Banks... Need that love it or hate it fico... no.
Finance companies... too big of a loan amount (over $3,000.00)... no.
SBA... Would love to help you get credit... no.
SCORE... Haven't got there yet... Will let you know (no offence luckiest... )
Angels... I have not found a legit group yet, and I can't afford the fees... no.

Today I went to my local Chamber of Commerce and talked to its president. I will let you all know in a few days if anything will come of our meeting.

In the meantime, thanks for all of your thoughts, good ideas, prayers and posts...
Tim...