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1 "correct" answer available (5 pts) 2 "helpful" answers available (4 pts)

3 Replies Last post: Apr 14, 2008 8:47 PM by CorpCons08

Funding growth for a second location

Apr 6, 2008 10:09 AM

MyrtleBchMama 5 posts since
Apr 6, 2008

I have an established child development center. I am thinking about stepping into a separate corporate entity with new partners to establish a private school. The CDC will stay in business and will remain under my ownership. If I try to secure funding for my portion(or some of my portion) of this new venture would it be considered a "start up" or can I base it on my previous experience (10+yrs) as a natural extension? The separate corporate entity is due to the involvement of new people and their investment and a desire to separate what we(my husband & I) have already built.

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LUCKIEST 7,938 posts since
Aug 6, 2007

1. Re: Funding growth for a second location Apr 6, 2008 12:12 PM

Funding growth for a second location.
*Yes, to me it goes sound like * a "start up" . A separate corporate entity with new partners.
A New business name and a New Federal I D.
When you try to secure funding for my portion(or some of my portion)
the land will want to see both your personal and business returns.
They will also want to see a Business Plan for the new venture.
Good luck, LUCKIEST

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product614too 4 posts since
Apr 9, 2008

2. Re: Funding growth for a second location Apr 12, 2008 8:38 PM

in response to: LUCKIEST

LUCKIEST, you seem to be pretty informative. I have seen some of your responses to other postings. I would like to ask you a few questions but don't see any way to get in contact with you other than replying to one of your responses. I do have a couple of postings you can take a look at and see if you have any information you can give me in seeking a loan.

Thanks, product614too

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CorpCons08 1,128 posts since
Nov 14, 2007

3. Re: Funding growth for a second location Apr 14, 2008 8:47 PM

BchMama,

Not necessarily. A lot of the lenders I work with consider this "restructuring" and will use your previous companies financials in the processing of your new loan request. I would like to speak to you in greater detail if you have a chance. My email address is daniel.skolnick@skcgroup.net.

CC08

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This Question is Possibly Answered

Funding growth for a second location

Apr 6, 2008 10:09 AM

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