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13 Replies Last post: Jul 9, 2008 3:48 PM by neubauer.adam

In Business 16 years - Need Short Term Funding

Dec 17, 2008 10:22 PM

Click to view SeattleGuy's profile Professional SeattleGuy 3 posts since
Dec 17, 2008
I am a commercial painting contractor with a solid track record and impeccable references and customer satisfaction. All it took was a slow/no pay general contractor customer and a large job to take the wind out or our sails. We need funding for a few months to weather the always slower winter months. We get some credit card sales but nothing regular or routine. What's a fella to do!?
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Click to view LUCKIEST's profile SCORE LUCKIEST 7,939 posts since
Aug 6, 2007
1. Re: In Business 16 years - Need Short Term Funding Dec 18, 2008 8:06 AM
in response to: SeattleGuy
Need Short Term Funding, Welcome

Talk to me. It is great that you have been in Business 16 years.

How can I talk to you, LUCKIEST
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Click to view SeattleGuy's profile Professional SeattleGuy 3 posts since
Dec 17, 2008
2. Re: In Business 16 years - Need Short Term Funding Dec 18, 2008 9:38 AM
in response to: LUCKIEST
Hi LUCKIEST. I'm brand new here, does the site have a PM feature?
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Click to view NoBullFunding's profile Mogul NoBullFunding 278 posts since
Oct 6, 2008
3. Re: In Business 16 years - Need Short Term Funding Dec 18, 2008 6:06 PM
in response to: SeattleGuy
Have you spoken to your local banker about a revolving line of credit? Your situation is exactly what these types of products were created for. You borrow to carry operations through the slow season, then when things pick up you pay down the line. Start with the place where you have your deposit accounts, but as long as you have decent credit and your business demonstrates some cash flow, most banks should be able to accomodate your needs. Given your time in business, and assuming you are looking for something in the $50,000 - $100,000 range you will NOT need a business plan.
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Click to view SeattleGuy's profile Professional SeattleGuy 3 posts since
Dec 17, 2008
4. Re: In Business 16 years - Need Short Term Funding Dec 18, 2008 10:35 PM
in response to: NoBullFunding
Yes I have, but we were declined. We are being told we have too high of a debt to income ratio. I have a hard time believing there isn't some solution for us out there...
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Click to view BizHelper's profile Mogul BizHelper 17 posts since
Nov 15, 2008
5. Re: In Business 16 years - Need Short Term Funding Dec 18, 2008 11:06 PM
in response to: SeattleGuy
Hi,

I may have some solutions for you! Please email me so I may offer them to you.

Monique@accuratefinancial.info

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Click to view fmclaw's profile Start-up fmclaw 1 posts since
Dec 19, 2008
6. Re: In Business 16 years - Need Short Term Funding Dec 19, 2008 9:13 AM
in response to: SeattleGuy
Dear 16 years,

I've only been in business 4 years, but I share your frustration. No one is lending money right now. I don't feel so alone.
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Click to view NoBullFunding's profile Mogul NoBullFunding 278 posts since
Oct 6, 2008
7. Re: In Business 16 years - Need Short Term Funding Dec 19, 2008 3:44 PM
in response to: SeattleGuy
Debt to income is typically language that's used in consumer lending as opposed to a business loan. Did they mention anything about cash flow or cash flow coverage? I'd be happy to look over your numbers free of charge to see what the issue is. nobullfunding@gmail.com
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Click to view lemusique's profile Professional lemusique 1 posts since
Dec 12, 2008
8. Re: In Business 16 years - Need Short Term Funding Dec 19, 2008 3:54 PM
in response to: SeattleGuy
How much are you looking for?
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Click to view johnpaint1's profile Mogul johnpaint1 20 posts since
Nov 30, 2008
9. Re: In Business 16 years - Need Short Term Funding Dec 20, 2008 8:07 PM
in response to: lemusique
Man I feel your pain. I'm in the same line of business.If you own a house you can borrow against it.As you know as a contractor you don't want to go bankrupt because you will lose your license for contracting, so you will have to fine some kind of funds somewhere.In the future you will have to watch wotking for GC's because there are so many that just about to lose it and you will not know about it until it's too late.Maybe if you downsize once you get going that will help you.
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Click to view Chris_Black's profile Mogul Chris_Black 54 posts since
Aug 18, 2008
10. Re: In Business 16 years - Need Short Term Funding Dec 23, 2008 10:44 AM
in response to: SeattleGuy
SeattleGuy:

Depending on a little more information about you and your particular busines, I should be able to help. We have several different solutions for you.

Chris Black
cblack@m-o-minc.com
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Click to view money4u's profile Mogul money4u 45 posts since
Feb 10, 2009
11. Re: In Business 16 years - Need Short Term Funding Feb 10, 2009 11:52 AM
in response to: SeattleGuy
There is a solution out there for you. I know all to well about the slow and down time of a painter. I have family members whot are painters. I would like to inform you on some options you may have. What is your email?
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Click to view bigpayout's profile Mogul bigpayout 21 posts since
Feb 7, 2009
12. Re: In Business 16 years - Need Short Term Funding Feb 10, 2009 12:51 PM
in response to: SeattleGuy
You been in business 16 years, you have done something right:). If you process credit cards and you been in business 1 years and not behind on lease, we can help you. I need to contact you and get you approved. Email me ASAP, so we can get you rolling.

Thanks
Raymont
rjones107@bellsouth.net
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