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5 Replies Last post: May 19, 2009 3:56 PM by grktownmusic1

Need Help Getting A Small Business Loan

May 16, 2009 8:02 PM

Click to view grktownmusic1's profile Start-up grktownmusic1 2 posts since
May 15, 2009
I own a Greek Music and Gift shop in Chicago. My brother in-law opened
it in 92, I've been working here since 1997, started running it
myself in 2003 and recently switched ownership this past December. My
store already has an established name with the Greek community and has
a rather large customer base. My issue is, with the price of the Euro
being so high the past few years, it affected the volume of
merchandise I imported. Because of this, the store's cash flow has
gone down. I haven't been making money to the store's full potential
for a couple years now.

I have adjusted to the times and cut down what I bring in, music-wise,
but there is too much of a gap between me selling out cds and my
reordering, I've recently had to take down my website to redo it to
adjust to these changes as well. Simply put, the funds aren't there to
make the changes I want. I feel that these changes will bring my
business back up to its full potential.

I just need some help. Any suggestions?
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Click to view LUCKIEST's profile SCORE LUCKIEST 7,935 posts since
Aug 6, 2007
1. Re: Need Help Getting A Small Business Loan May 17, 2009 9:37 AM
Need Help, Welcome Yianni. we love Chicago

To me it sounds like you need that a small loan.

To adjust to present times, you need to develop both a business and marketing plan to succeed.

Do you know about SCORE?? SCORE is FREE both in person (in Chicago) and online.

Good luck, LUCKIEST
Click to view phanio's profile Mogul phanio 483 posts since
Apr 7, 2009
2. Re: Need Help Getting A Small Business Loan May 17, 2009 8:04 PM
There are several options for your business - but they depend on knowing a little more about your and the store.

We list several on our website - you can search for information and resources that provide capital to businesses.

Business Money Today
Click to view ggoodard's profile Mogul ggoodard 79 posts since
Nov 29, 2008
3. Re: Need Help Getting A Small Business Loan May 19, 2009 10:32 AM
Please feel free to contact me ggoodard@aol.com
Click to view vendva's profile Start-up vendva 1 posts since
May 19, 2009
4. Re: Need Help Getting A Small Business Loan May 19, 2009 12:39 PM
in response to: ggoodard
Hey do you have information on getting a small business loan?
Click to view grktownmusic1's profile Start-up grktownmusic1 2 posts since
May 15, 2009
5. Re: Need Help Getting A Small Business Loan May 19, 2009 4:07 PM
in response to: ggoodard
Thank you for your input! I have a meeting tomorrow with SCORE. I hope they can help me out.