Home: Message List - Best Option to get Finance for a new business (Corp or LLC)

Re: Best Option to get Finance for a new business (Corp or LLC)

jaffersm — Thu, 04 Sep 2008 03:24:00 GMT

Forit. Can I send you an e-mail? Mine is jaffers@telemansys.com. I will send you a detailed reply.

Re: Best Option to get Finance for a new business (Corp or LLC)

Fortis — Thu, 04 Sep 2008 01:03:32 GMT

Can you send me some more detail on your business and what you are trying to do?

Re: Best Option to get Finance for a new business (Corp or LLC)

jaffersm — Thu, 04 Sep 2008 00:59:31 GMT

Fortis, I am still looking for best financing option. Can you throw some light (I mean finance light)....

Re: Best Option to get Finance for a new business (Corp or LLC)

Fortis — Thu, 04 Sep 2008 00:38:32 GMT

jaffersm,

Good afternoon, hope your day is well. Just wanted to check in with you to see how everything was coming along. Have you found a good source for your situation?

Re: Best Option to get Finance for a new business (Corp or LLC)

LUCKIEST — Tue, 02 Sep 2008 15:39:00 GMT

Best Option to get Finance for a new business, Welcome Al from Texas

Tell us more. Go to Members page and share some info.

Do you know about SCORE?? SCORE is FREE both in person and on line.

Good luck, LUCKIEST

Re: Best Option to get Finance for a new business (Corp or LLC)

sd4fun — Tue, 02 Sep 2008 15:35:01 GMT

I am researching business growth funding possibilities for my IT B2B Services. My name is Al, email is cmoms@austin.rr.com, phone is 512-837-1000. Please responed with possibilities.

Re: Best Option to get Finance for a new business (Corp or LLC)

Bridge — Tue, 02 Sep 2008 14:05:30 GMT

The franchise agreement disclosure should have had an estimated working capital amount in it somewhere. What amount did they say you would need for working capital?

You might have had an easier time getting an SBA backed loan before you bought the franchise - one that covered the initial purchase plus working capital.

That being said, as a new business, any loan will probably require a personal guarantee. If available to you, home equity lines can be easier to obtain, have a better interest rates, and longer payback periods,

Re: Best Option to get Finance for a new business (Corp or LLC)

Fortis — Sun, 31 Aug 2008 00:08:26 GMT

From a lending stand point we dont look at how your registered as much. Yes you have to be registerd and in good standing but not much more. As a new business you will personally guaratee any loan approved anyways so it will boil down to the risk level of your business and all owners personal credit.

Now the dollar amount and what you are trying to do is going to be relavent to figure out what type of finance product will be best for you and your business.

What is the $50K going towards?

Re: Best Option to get Finance for a new business (Corp or LLC)

jaffersm — Sat, 30 Aug 2008 17:32:32 GMT

LUCKIEST, Thanks for your input, I will check Score out.

Re: Best Option to get Finance for a new business (Corp or LLC)

LUCKIEST — Sat, 30 Aug 2008 12:43:35 GMT

Best Option to get Finance for a new business, Welcome Sal

One of the first items a bank, lender or investor will want to see is a Business and Marketing Plan.

Part of the Plan is determining how long you need the funds for.

SCORE can help you develop both. SCORE is FREE.

Good luck, LUCKIEST