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9 Replies Last post: May 23, 2008 10:40 PM by jnees1023

Need $150-250K for growing company

Jul 18, 2008 3:42 PM

Click to view grobinson's profile Start-up grobinson 2 posts since
Jul 18, 2008

Company has been in business for 15 months (below the 2yr threshold for most traditional lenders). We currently build custom web applications for clients, revenues so far this year are over $110,000. We are looking to bring a couple of new web products to market, with potential for residual revenue of over $1 million by year 2. Everyone loves the product (we have prototypes built) and the business plan, but our "newness" is causing heartburn. Also, our "collateral" is more intellectual than tangible (6 employees in a 2000sq ft leased office).

We need $250k to launch the products nationally, or $150k to launch regionally (we prefer a national launch). Very little in CC transactions, so the merchant financing option doesn't really work for us...

Any thoughts/suggestions?

Thanks,
G.
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Click to view golfheaven's profile Mogul golfheaven 159 posts since
Jul 15, 2008
1. Re: Need $150-250K for growing company Jul 18, 2008 4:34 PM
in response to: grobinson
I would try sba 7a loan
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Click to view grobinson's profile Start-up grobinson 2 posts since
Jul 18, 2008
2. Re: Need $150-250K for growing company Jul 18, 2008 5:22 PM
in response to: golfheaven
Thanks...we're looking into a SBA Patriot Express Loan with the bank, but they are still trying to require all the standard loan terms (2 yr, full collateral, etc.) Does anyone know of other lenders specializing in SBA loans that would be willing to work with a company like ours?

Thanks,
G.
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Click to view simplymarcus's profile Professional simplymarcus 3 posts since
Jul 18, 2008
3. Re: Need $150-250K for growing company Jul 18, 2008 6:15 PM
in response to: grobinson
I got a 150k line of credit with the help of www.ezunsecured.com. They are the best loan consulting company they did all the paperwork. They have a toll free number it is 1800-201-0001. I had my money in just a few weeks.
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Click to view whalteva's profile Mogul whalteva 39 posts since
Jul 18, 2008
4. Re: Need $150-250K for growing company Jul 18, 2008 11:59 PM
in response to: simplymarcus
Marcus, what type of fees does your company charge/?Thank you
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Click to view LUCKIEST's profile SCORE LUCKIEST 7,932 posts since
Aug 6, 2007
5. Re: Need $150-250K for growing company Jul 19, 2008 9:59 AM
in response to: grobinson
Need $150-250K for growing company, Welcome.

Tell me more. Where are you?? like City and State?? Can I read your Business Plan??

How long do you need the funds for?? and How and When will you pay me back??

Do you know about SCORE?? SCORE is FREE.

Another suggestion. Go to Members page and add more info,

Good luck, LUCKIEST
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