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4 Replies Last post: Jan 1, 2008 11:45 PM by CorpCons08

Loan or Investor? Which is more practical?

Jan 1, 2008 5:32 PM

Click to view prime gifts's profile Mogul prime gifts 14 posts since
Dec 31, 2007
My partner and I both work but would like to start our own business. We have prime residential location for a small convenience/country store. It's a clean country setting located on a county road in Wine Country and summers here are teeming with tourists. Not to mention daily traffic to and from work. Where can we turn to for financing or investors?
Tags: small, business, loan, start, up, loans Report as inappropriate
Click to view LUCKIEST's profile SCORE LUCKIEST 5,723 posts since
Aug 6, 2007
1. Re: Loan or Investor? Which is more practical? Jan 1, 2008 5:59 PM
prime gifts, Your partner and you both would like to start your own business (together??)
What kind of business?? The one you have listed under Members (1000 items)
Do you have a Business and Marketing Plan??. That is the first items an investor will want to see.
What are your backgrounds?? Do you have Assets, Real Estate?? Home equity loans??
The more you share, the better we can help you succeed.
LUCKIEST
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Click to view prime gifts's profile Mogul prime gifts 14 posts since
Dec 31, 2007
2. Re: Loan or Investor? Which is more practical? Jan 1, 2008 6:51 PM
in response to: LUCKIEST
We would be partners (engaged to be married). Half the store would be some of the 1000 items mentioned plus crafts. The other half would be your everyday items i.e. coffee, cigarettes, beer, soda, milk, cheese and eggs. Possibly do a light lunch menu depending on demand. Because of the location (very scenic) we figure soft ice cream during summer months.

We are now working on a business and marketing plan. Robert is an author and works in construction, Mona has experience in retail and is also employeed full time. We have no real assets and only a small equity built up in our 12 acre residence. We do have the will and the drive to be our own boss and honestly feel this business venture would pay off.
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Click to view Lighthouse24's profile Mogul Lighthouse24 2,232 posts since
Oct 10, 2007
3. Re: Loan or Investor? Which is more practical? Jan 1, 2008 7:02 PM

+Which is more practical+? Not to be a smart-aleck, but whichever one you can GET. Seriously, 80 percent of what you have to assemble is the same for either a loan request or an investment proposal. If you really do a good job of putting all that detail together, it will probably lead you to conclude the better option to pursue. Hope this helps. Happy New Year (and congratulations!).
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Click to view CorpCons08's profile Mogul CorpCons08 1,127 posts since
Nov 14, 2007
4. Re: Loan or Investor? Which is more practical? Jan 1, 2008 11:45 PM
prime gifts,

Welcome to the Bank of America, Small Business Online Community.
Congratulations on your engagement, you must be very excited.
Now is the time where many entrepreneurs in your position miss a lot of DETAILS.
I would like to speak to you about your business venture.
I operate a SME (Small to Medium Enterprise) and Corporate Consulting Firm.
One of our specialities is helping business owners obtain financing for their projects.
You can email me at d.skolnick@skolnick-associates.com and we can converse about this.

Best wishes,
CC08
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