ForumsLoans and Lines of Credit

Getting a small business up and running can be difficult and frustrating, as you have found out. If professionals are telling you that it will be hard, its because they are trying to be honest with you. Lender and investors have too much downside and not enough upside when it comes to ventures like yours. With 80% of small businesses failing in the first 5 years, the decision was made long ago that banks will lend on ACTUAL cash flow, not projected cash flow. Business plans are a good road map, but are honestly of more value to you as the entreprenuer than to a lender. So now what?

If you are entirely and truly committed to this, you will have to be willing to take money that will cost you an arm and a leg. I am not saying that I would recommend some of these avenues as a professional advisor, but I do know that entreprenuers have tapped them to take their shot:

• home equity loans - you are putting your house up, so if you fail, you will still have to repay the debt or risk losing your home
• Peer-to-peer like Prosper or virgin money - The rates are higher to reflect the risk. That said, people get funding for all sorts of things that make lenders like me break into a cold sweat.

• credit cards - very expensive, but if you have no other choices, you could try to get a low rate balance transfer, or find a balance transfer with a fixed rate for the life of the loan.
• Friends and family - mixing friends/family and money can be quite dangerous if it doesnt work out, but maybe you have a rich uncle who is indifferent as to when he gets paid back

BEWARE of those who claim they can get sums of money with no problem. They are either scamming you, or are going to charge you fees that are so high that it's negates any economic benefit of actually procuring the funds.

Women's Clothing Store in need of HELP!!!

Yes starting a new business is sometimes hard. Tell me more.

How much capital do you need?? For How long?? and How and When will you pay me back??

Where are you located?? Do you have a Business Name and a Federal I D Number??

Help me to help you, LUCKIEST