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16 Replies Last post: Dec 3, 2008 11:13 AM by intechspecial

Funding: How to? Can anyone help start a small business?

Oct 13, 2008 3:52 PM

Click to view 12StrikeProd's profile Professional 12StrikeProd 4 posts since
Oct 13, 2008
Good afternoon everyone...

I'm in the process of starting a small business which will provide direction and consultation in poker and bowling tournaments. In most instances, these tournaments will be for charities and/or benefit non-profit organizations. My first event is less than a month away and I've got most things covered, but am in need of some equipment before then. My business name is registered with the city that I live in, permits have been acquired, and most of my ducks are in a row.

The issue? I've been out of work for four months, and in that time I've thought about this company and what I would like to do with it. While out of work, I've become dangerously low on funds, and my credit isn't stellar to say the least. That is why I am coming here. In no way, shape, or form am I in need of hundreds of thousands of dollars in funding. I feel that my business would definitely get off of the ground with $5k, possibly less than that.

Does anyone here know of any solutions that I can look into? Any help would be greatly appreciated. Thank you in advance.
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Click to view LUCKIEST's profile SCORE LUCKIEST 8,132 posts since
Aug 6, 2007
1. Re: Funding: How to? Can anyone help start a small business? Oct 13, 2008 4:29 PM
Can anyone help start a small business?? Welcome Joseph

Yes I can help, SCORE can help. You are in the process of starting a business.

Two questions. Do you have a Business Name??
Did you register the name with the I R S and have you obtained a FEDERAL I D Number??

What is the next step to get your business off the ground and When and How will
you repay the funding??

LUCKIEST
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Click to view 12StrikeProd's profile Professional 12StrikeProd 4 posts since
Oct 13, 2008
2. Re: Funding: How to? Can anyone help start a small business? Oct 14, 2008 8:31 AM
in response to: LUCKIEST
Hello Luckiest.. Thank you very much for responding..

First, I do have a business name. It is Twelve Strike Productions.

Second, I did register the name and I do have a Federal ID Number.

Finally, I'm not sure how to answer when the funding would be repaid. Wouldn't that depend on the type of funding? If it were in the form of a loan, then I would make the payments each month. I'm not too familiar with other funding methods, but I can assure that any funding would be repaid as quickly as possible.

My first event is in November, as I had mentioned. The only thing left to purchase would be the tables for the tournaments (this is where the "equipment" comes in). Truthfully, $5k is a high estimate for the funding needed. $3k would purchase the needed equipment, the $5k would just provide a small cushion for more/better equipment if needed.
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Click to view intechspecial's profile Mogul intechspecial 1,458 posts since
Jan 6, 2008
3. Re: Funding: How to? Can anyone help start a small business? Oct 13, 2008 4:44 PM

The US Small Business Administration and SCORE both offer FREE Business advice.

Visit the following website to locate a office in your area:
http://www.score.org

http://www.sba.gov


Good luck in your endeavors!

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Click to view 12StrikeProd's profile Professional 12StrikeProd 4 posts since
Oct 13, 2008
4. Re: Funding: How to? Can anyone help start a small business? Oct 13, 2008 4:59 PM
in response to: LUCKIEST
Hello Luckiest. Thank you for responding..

I do have a business name, it is Twelve Strike Productions. The name is registered with the IRS and I have obtained a Federal ID Number.

The next step to getting the business off of the ground will be purchasing the only equipment left to purchase, in this case tables for the tournaments. The funding will be repaid as quickly as possible, through proceeds from the tournaments. My goal is to direct at least one tournament per month.
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Click to view Fortis's profile Mogul Fortis 239 posts since
Jul 24, 2008
5. Re: Funding: How to? Can anyone help start a small business? Oct 13, 2008 8:14 PM
in response to: 12StrikeProd
Hello 12StrikeProd,

Hope all is well. Email me a bit more detail about your company and what you need for the business.

Thanks

Collin
Fortis Capital
cobringer@gofortis.com
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Click to view GrowthCurve's profile Mogul GrowthCurve 152 posts since
Jan 25, 2008
6. Re: Funding: How to? Can anyone help start a small business? Oct 13, 2008 9:15 PM
in response to: 12StrikeProd
Do not buy the tables. Rent them on a one-time basis for the event.

Then use the money you make from the event to grow your business.

There has to be a company in your area that will rent you some poker tables.
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Click to view nishfund's profile Mogul nishfund 12 posts since
Oct 28, 2008
7. Re: Funding: How to? Can anyone help start a small business? Oct 28, 2008 3:30 AM
in response to: LUCKIEST
State Smart Funding Group Specializes in helping small businesses with a funding program designed especially for someone like you.

contact twilliamson@statesmartfundinggroup.com. for an application.
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Click to view intechspecial's profile Mogul intechspecial 1,458 posts since
Jan 6, 2008
8. Re: Funding: How to? Can anyone help start a small business? Oct 28, 2008 11:48 AM

My company has developed many websites for non-profits, free of charge.

As long as your company is in the business of giving back to the community or helping a cause, I am willing to develop a site for you free of charge.

Giving to your community could be as simple as you donate once in a while to a cause or an employee volunteers 2 hours a month on company time.

I have developed many sites for businesses like this.

I know this does not help in your need to raise start up capital, but it will help on the amount you will need to start up your company.

Mike(intechspecial)

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Click to view nishfund's profile Mogul nishfund 12 posts since
Oct 28, 2008
9. Re: Funding: How to? Can anyone help start a small business? Oct 30, 2008 7:18 PM
in response to: 12StrikeProd
I can't guarantee SSFG will approve you,but I do suggest you put in an application. I can e-mail you one if you like. The best thing about our program is that we don't look at your credit or your financial status. We enjoy helping business owners such as yourself. You may find SSFG very helpful to you.
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Click to view 12StrikeProd's profile Professional 12StrikeProd 4 posts since
Oct 13, 2008
10. Re: Funding: How to? Can anyone help start a small business? Nov 14, 2008 4:43 PM
in response to: nishfund
I'm sorry for the delay in answering this message. If you could email an application to me, that would be tremendous. The address is 12strikeproductions@gmail.com

Thanks!
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Click to view jmsinc's profile Start-up jmsinc 2 posts since
Nov 14, 2008
11. Re: Funding: How to? Can anyone help start a small business? Nov 14, 2008 5:56 PM
in response to: intechspecial
Tell me more about your offer to create a custom website for a business that gives back and contributes regularly to the community.

Thanks,
JMS
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Click to view GrowthCurve's profile Mogul GrowthCurve 152 posts since
Jan 25, 2008
12. Re: Funding: How to? Can anyone help start a small business? Nov 14, 2008 10:01 PM
in response to: nishfund

"I can't guarantee SSFG will approve you,but I do suggest you put in an application. I can e-mail you one if you like. The best thing about our program is that we don't look at your credit or your financial status. We enjoy helping business owners such as yourself. You may find SSFG very helpful to you."

This does not sound at all legitimate to me.


First, your Web site is rife with spelling errors and typos.


Second, you claim that charitable, wealthy people just give you money so that you can then, in turn, give it to other businesses that need it? I sincerely doubt that.


Third, there is no business entity registered in the State of Mississippi with your company name.


Fourth, it appears that your business address is a UPS Store. Now, there are certainly legitimate businesses that operate this way, but it's a red flag when a business operates like that and asks for up front cash before providing any service, which yours does. You can become very, very difficult to find, very easily.


Fifth, you ask people to fill out an application (also rife with spelling errors and typos) and request a non-refundable application fee.


Well, at least your application fee is relatively small and you're probably not taking someone's last dollar, but I still sense that someone should exercise caution before working with you.


If you care to tell me what I'm missing, I will listen.

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Click to view nishfund's profile Mogul nishfund 12 posts since
Oct 28, 2008
13. Re: Funding: How to? Can anyone help start a small business? Nov 15, 2008 12:47 AM
How much do you need? You can visit our web site at www.statesmartfundinggroup.com and download an application. We migh be able to help.

Nish Fund
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Click to view GrowthCurve's profile Mogul GrowthCurve 152 posts since
Jan 25, 2008
14. Re: Funding: How to? Can anyone help start a small business? Nov 15, 2008 10:24 AM
in response to: nishfund
So...you don't have a response?
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