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7 Replies Last post: Mar 14, 2009 4:21 PM by bmt2008

New Business.. Need help

Mar 12, 2009 12:50 AM

Click to view business_newb's profile Professional business_newb 2 posts since
Mar 11, 2009
Hello out there. My name is Aden, and I have come to notice that the reply posts to this site seem to offer a lot of help, so without further a do, here is my situation. I am 19 years old. My friend and I have come up with a brilliant business idea. It's targeted audience are people in the age range of 18-late 20's, especially college kids. There is only one other business that offers our service, and it is 20+ miles away from our university. We have a town center 2 miles away from our university, and that is where we want to place our business. It generates amazing traffic, especially on weekends. It's the perfect location with no competition. We've seen the space that we want to rent out and it requires little upgrade. The only problem... we don't have any start-up funds. We need about 35-45k to make sure we do this the right way and not waste the opportunity. Being that we're young, no one is taking us seriously. Family does not want to invest, but they are helping us put together a business plan using their connections since we didn't know how to make it on our own. I don't see how a bank would be willing to lend out that kind of money to two 19 year olds. It just doesn't seem realistic. So really, I'm looking for advice/help from anyone out there that is willing to offer.

How to come up with the money
Advice on getting a loan
Business plan advice

I'm looking for anything that would help us accomplish our goal in starting this business. Any advice would be greatly appreciated. Thanks
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Click to view LUCKIEST's profile SCORE LUCKIEST 7,932 posts since
Aug 6, 2007
1. Re: New Business.. Need help Mar 12, 2009 8:10 AM
New Business.. Need help, Welcome Aden

Do you know about SCORE. SCORE is FREE and can help you in person or online with
How to come up with the money
Advice on getting a loan
Business plan advice

Good luck, LUCKIEST
Click to view bmt2008's profile Mogul bmt2008 305 posts since
Jul 30, 2008
2. Re: New Business.. Need help Mar 12, 2009 9:44 AM
I would suggest you try two things - you may have to do these together or each of you do one - each.

Micro-Credit - there are micro-credit firms that provide small amounts of financing (up to $35K) for people just like you - have a great idea but have no chance with a bank.

Peer-to-peer social lending. This is where members lend money to other members - You get to tell your story which helps in inticing others to lend to you.

For business plan help try - SCORE (score.org) or find a Small Business Development Center (SBDC) in your area - these are free and there to help you with all your questions and business plan.

You could also search the web for free sample business plans - this will give you an idea regarding what should be in a plan and how to organize it.

I do say - not all sections will apply to your business and not all sections need to be filled in especailly if you are repeating yourself.

For more information on Micro-Credit or Peer-to-peer lending - visit our site at www.businessmoneytoday.com
Click to view arttown's profile Authority arttown 6 posts since
Feb 16, 2009
3. Re: New Business.. Need help Mar 12, 2009 10:13 PM
HI MY NAME IS ANGELA AND I WAS IN THE SAME SITUATION YOU AND YOUR BUSINESS PARTNER ARE IN. I CAN GIVE YOU SOME INFO AND LET YOU TALK TO A PARTNER OF MINE THAT CAN HELP YOU GUYS GET A BUSINESS LINE OF CREDIT UP TO A 100,000. IT IS NOT A LOAN ITS A LINE OF CREDIT FOR YOUR BUSINESS, FUNDING AND THINGS OF THAT NATURE. YOUR PERSONAL CREDIT DOES NOT PLAY A FACTOR IN YOU GETTING APPROVED. PLEASE LET ME KNOW IF I CAN HELP YOU.
Click to view lgruber's profile Authority lgruber 13 posts since
Jan 4, 2009
4. Re: New Business.. Need help Mar 12, 2009 10:14 PM
in response to: arttown
we are also looking for a business line of credit, can you give me some insight to your post? What and where you recieved this?
Click to view business_newb's profile Professional business_newb 2 posts since
Mar 11, 2009
5. Re: New Business.. Need help Mar 13, 2009 7:43 PM
in response to: arttown
hey angela
that would be great if you could give me some information. I would be happy to talk to your partner too. My email is adenpena1@yahoo.com. Thanks
Click to view arttown's profile Authority arttown 6 posts since
Feb 16, 2009
6. Re: New Business.. Need help Mar 14, 2009 1:59 PM
in response to: lgruber

MY E-MAIL IS townsendangela22@yahoo.com send me your info and i can put you in touch with the right person. looking forward to hearing from you.
Click to view bmt2008's profile Mogul bmt2008 305 posts since
Jul 30, 2008
7. Re: New Business.. Need help Mar 14, 2009 4:21 PM
Looks like you might have found what you need. Do me a favor - come back here and let us know your progress and how it turns out - good or bad.