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6 Replies Last post: Jun 7, 2008 7:28 AM by Bridge

Finance for a small home based business

Jun 4, 2008 9:18 PM

Click to view DivineStyle's profile Professional DivineStyle 3 posts since
Jun 2, 2008
I need to know where do I start to try and get financing for my small home based business I started three years ago. My personal credit isn't that great but it's up and coming as I'm working on fixing it.So getting a traditional SBA loan I doubt is possible. I know I need to try and build business credit but i'm not sure how to do so if I can't get any funding.
Tags: small, home, based, business, finance, help Report as inappropriate
Click to view Bridge's profile Mogul Bridge 364 posts since
Jun 3, 2008
1. Re: Finance for a small home based business Jun 4, 2008 10:29 PM
Please provide a little more info. Do you have three years profits/growth? How much money are you looking for and for what purpose?
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Click to view rsanborn34's profile Start-up rsanborn34 2 posts since
Jun 4, 2008
2. Re: Finance for a small home based business Jun 5, 2008 10:18 AM
I believe we could be of some assistance to you in acquiring some additional capital. Shoot me an email at rsanborn@numafinancial.com with a phone number so I can get in contact with you and provide you with some more information.
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Click to view DivineStyle's profile Professional DivineStyle 3 posts since
Jun 2, 2008
3. Re: Finance for a small home based business Jun 5, 2008 11:15 PM
in response to: Bridge
I'm looking for aproximately $10K to $15K to get more equipment and esblaish a decent inventory. I don't have two years of breaking even or coming just above my supplies.
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Click to view Bridge's profile Mogul Bridge 364 posts since
Jun 3, 2008
4. Re: Finance for a small home based business Jun 6, 2008 5:04 PM
in response to: DivineStyle
$10-15K is small - in the ranges of something you can finance on credit cards - you must get offers in the mail?

Hate to say it, but if your business is not making a profit after three years, you might want to rethink your plan. Having more inventory does not help a break-even business it usually just hurts cash flow.
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Click to view DivineStyle's profile Professional DivineStyle 3 posts since
Jun 2, 2008
5. Re: Finance for a small home based business Jun 6, 2008 10:41 PM
in response to: Bridge
I do get tons of offers in the mail all the time but like I stated my personal credit isn't up too par and they judge by that. And my profit/growth was just an estimate I honestly just hired a account to keep track of that stuff for me. So I might be three years into my business but I'm just getting the logistic straightened out. With the market for what I do and my raising clientel I feel inventory would benefit me the most. Thank you for your feedback.
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Click to view Bridge's profile Mogul Bridge 364 posts since
Jun 3, 2008
6. Re: Finance for a small home based business Jun 7, 2008 7:28 AM
in response to: DivineStyle
Get your finances straight first, then decide if your nedd a loan and IF you will be able to repay it. It does notgood to borrow money on a business ventures that does not have teh capacity to repay the loan, this will just make your credit situation worse.
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