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6 Replies Last post: Aug 26, 2009 9:01 PM by SellWholesale

Need $15,000.00 loan for start up for business in CA

Jun 28, 2008 10:42 PM

Click to view ryanhere's profile Professional ryanhere 3 posts since
Jun 28, 2008
Hello I am starting a discount grocery store in Southern California I have already established an S CORP California Discount Grocery INC. I also just signed a lease and have most of the funding needed but I am still short about $15,000.00 to complete what I need to open the doors hopefully in August of this year. My personal credit is poor but I do make great money at my current job my wife will be running the store during the day. The town I am putting the store in is about 70,000 people with 5 grocery stores and none of them are a discount grocery store. I am willing to pay a little higher interest rate to get this done I can do about three years if things go as planned it would be sooner. Please if anyone is able to assist please let me know thank you so much.

Ryan
Tags: business_start_up, starting_a_new_business, home_business Report as inappropriate
Click to view MetroGal's profile Mogul MetroGal 101 posts since
Oct 20, 2007
1. Re: Need $15,000.00 loan for start up for business in CA Jun 28, 2008 10:55 PM
in response to: ryanhere

Welcome to the community! I wish you best of luck in your businsss. I know you're looking for funding vs. advice. ...but I thought that Southern California was very saturated with grocery stores. I thought people in Cali drive everywhere - - so they'll drive to the Costco, Trader Joes, even the 99 cents store, and even check out some ethnic super markets for discounts on food. A new grocery store of any type seems like tough business...although I've heard of a market that was focused on "discount" e.g. able to sell groceries at super low prices because of manufacturers discontinuing, etc...and that they were getting an increase in business...due to the poor economy now. I can't remember the name of the grocer though...

Have you tried family for the loan?
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Click to view ryanhere's profile Professional ryanhere 3 posts since
Jun 28, 2008
2. Re: Need $15,000.00 loan for start up for business in CA Jun 28, 2008 11:11 PM
in response to: MetroGal
Your right there are alot of grocery stores but the ones you listed are over 30 miles away and yes this is a very discounted grocery store about a 1/3 of the price compared to other grocery stores in the area. No my family is not able to assist due to the current market and housing issues in the area. I have a friend who has the same type of business in a very very large city and she is profiting over a 150,000.00 a year and its only been open for two years.
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