Good morning everyone, at least here in the western part of the US. I have a business that is two years old this June. We have had a rough two years and have self invested in our company. We are a Subchaper S Corp. Our gross income for 2007 was just under 1.0 million. We have had major growing pains and the future is amazing, but we need finacning to see it through. Our company is in international trade show logistics, we take the US exhibitor to international venues, deal with customs, proform onsite services and site the shows as needed.
I have met with SCORE here in Vegas and they said to start with a business plan. We're almost done, about a week to go to finish it the way it looks. I contacted BofA business via a 1-866 number and spoke with a person that stated that they don't need a business plan and the most we can hope to get is about 10% of our gross income. Plus, he stated the the SBA was considered as a last alternitve, only when they turn us down can SBA help. Not sure if that's true or not......????
I am confused at this point, not to mention frustrated. We are looking to pay off some old debt and consolidate credit card debt, we are paying high credit card rates, making our payments ontime, at this time and would like to get a projected loan of $500,000. This would pay off the old debt, allow us to hire another sales person. We have reduced our payroll and restructured our focus and it's working, actually turning two bad years around and there is some major light at the end of our tunnel.
If anyone out there can guide me in a direction I'm not seeing I would love to listen.
Sincerely,
Trish McCarron
Event Management & Logistics Worldwide, Inc.
Las Vegas, NV
trish@emlww.com
I have met with SCORE here in Vegas and they said to start with a business plan. We're almost done, about a week to go to finish it the way it looks. I contacted BofA business via a 1-866 number and spoke with a person that stated that they don't need a business plan and the most we can hope to get is about 10% of our gross income. Plus, he stated the the SBA was considered as a last alternitve, only when they turn us down can SBA help. Not sure if that's true or not......????
I am confused at this point, not to mention frustrated. We are looking to pay off some old debt and consolidate credit card debt, we are paying high credit card rates, making our payments ontime, at this time and would like to get a projected loan of $500,000. This would pay off the old debt, allow us to hire another sales person. We have reduced our payroll and restructured our focus and it's working, actually turning two bad years around and there is some major light at the end of our tunnel.
If anyone out there can guide me in a direction I'm not seeing I would love to listen.
Sincerely,
Trish McCarron
Event Management & Logistics Worldwide, Inc.
Las Vegas, NV
trish@emlww.com
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