6.
Re: Want to Invest $20,000+/ Silent Partner May 23, 2008 12:27 PM
in response to:
foundinkaty
It's hard isnt it? After going through what I went through im assuming there are so many great ideas out there that will never come to fruitition because of certain obstacles. Someone left me a voicemail earlier...whoever it was call me back because I accidentally pushed 7 instead of 9 which is erase instead of save.
I really dont want to come crashing down on SBAs parade, but seriously....the paperwork they want is best reserved for trial lawyers. What really got to me about them was their enthusiasm to help only to bring you to the point of peak excitement before they lay it all down for you. SCORE reps are eager to help, and dont offer the B.S. that these SBA "lenders" sling. However, if you have completed your business plan and are ahead on that end then dont bother. I couldnt even get them to review my business plan and offer me notes on tips because they just didnt understand what I wanted to do. I found someone who DID, I sent him my business plan and he provided EXCELLENT information. If anyone wants to check him out his company is called mergent planning and he actually found me on here. I plan on doing business with him. You can google mergent planning to find it.
They will offer you a free business plan review....very professional I would add.
There are so many of you out there with the determination, passion, and fire to be successful with your idea. The sad part is that 90-95% of you will never make it that far in dealing with Banks, or SBA lenders. Many seed and venture companies only want to do business on a 1 million dollar loan basis and expect high returns. DO NOT put your business, profits, and cash flow into debt handcuffs with them.
If you want to make it happen you have to be DIFFERENT. Sure everone has an ice cream shop, a bakery, an online business, a real estate business, a car dealership. What are you going to do different that makes a bank remember you? I cant even imagine how many hundreds, thousands of people the lenders speak with so they DO have to be picky. You cant just give large sums of money to anyone! Prove your worth, and if you get denied so what at least you proved yourself.
There is a book called bootstrapping I bought at borders that I would highly, HIGHLY recommend. It wasnt that expensive, and man what great information it has. It will not only motivate you, but will also guide you in thought to be in control yourself....dont pimp yourself out to anyone else for money. You can do it, I did....and so have so many others before you.
