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6 Replies Last post: Mar 6, 2008 1:34 AM by FinanceHelp4U

Need advice on how to expand a 6 month old company

Jun 4, 2009 9:48 PM

Click to view money_matters's profile Professional money_matters 3 posts since
Jun 4, 2009

My business is 6 months old and doing fairly well. Actually we are doing better than expected. I initially received help from family and friends to get started but now we need some help expanding. I can't afford to do it on my own and do not want to go back to my family friends, although some have graciously offered. Do you have any suggestions where a 6 month old business can find resources for expansion (other than f & f)? Please help. I could take on more business if I had the resources.
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Click to view Creditbuilder's profile Mogul Creditbuilder 134 posts since
Jan 17, 2009
1. Re: Need advice on how to expand a 6 month old company Jun 5, 2009 12:57 AM
in response to: money_matters
One mistake a lot of business people do is (probably more out of instinct) is to borrow money. There is more grant money available then loans and you never have to pay it back! Its just that we are preprogrammed to go for loans.

Also the benefits of applying for grants, is free to you and the way our company makes money is we get paid once we get the grant for you. If you want more information on the grant copy and paste businessformationgroup.com/grants into your browser address bar. Also on that site, it will allow you to enter just enough info to see if you prequalify.

Good luck
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Click to view Creditbuilder's profile Mogul Creditbuilder 134 posts since
Jan 17, 2009
2. Re: Need advice on how to expand a 6 month old company Jun 5, 2009 12:57 AM
in response to: money_matters

My old post did not show, so here it is again. Instead of loans try getting a grant. Its free and you never have to pay it back -- go to businessformationgroup.com/grants


Good luck

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Click to view LUCKIEST's profile SCORE LUCKIEST 7,938 posts since
Aug 6, 2007
3. Re: Need advice on how to expand a 6 month old company Jun 5, 2009 3:41 PM
in response to: money_matters
How to expand a 6 month old company, Welcome

Start by going to Members page and sharing some info about yourself.

If you are looking for funding, you to develop a Business Plan.

Then contact SCORE. SCORE is FREE.

Good luck, LUCKIEST
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Click to view phanio's profile Mogul phanio 483 posts since
Apr 7, 2009
4. Re: Need advice on how to expand a 6 month old company Jun 5, 2009 2:32 PM
in response to: money_matters
There are many resources for small business - our website is designed to help small business owners like yourself - we provide information and resources. Could be more specific if I knew what you were actaully seeking - amount and prupose as well as what your business does.

Business Money Today
www.BusinessMoneyToday.com
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Click to view godard2416's profile Professional godard2416 2 posts since
Jan 16, 2009
5. Re: Need advice on how to expand a 6 month old company Jun 5, 2009 3:22 PM
in response to: money_matters
Actually, I was in the same boat. I went through the grant program. The lender charges a lot but I didn't have to pay anything out of pocket. It's free money. This helped my business out tremendously.

Just thought I'd share.
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Click to view Creditbuilder's profile Mogul Creditbuilder 134 posts since
Jan 17, 2009
6. Re: Need advice on how to expand a 6 month old company Jun 5, 2009 6:41 PM
in response to: money_matters
I just want to be clear, we dont charge anything --- its the broker... we get paid a % from the broker once you get the grant money. So you go through the entire process cost free and when you get the money from the grant, you pay from that money. I find that most people get 100k, but some get more and some get less. My understanding is that the funding amount is based on your SIC code (Line of business).
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Click to view money_matters's profile Professional money_matters 3 posts since
Jun 4, 2009
7. Re: Need advice on how to expand a 6 month old company Jun 5, 2009 5:16 PM
in response to: godard2416

I went on their site and was able to request an application online. You know I really don't mind the fee because there is no upfront payment at all. So many of these programs want a lot of upfront money but these people seem to know what they are doing. They said that most businesses were qualifying for 100k in grant money. They are confident enough in their ability to get me money that put all of the fee on the backend. The application is free. The broker has grant writers prepared to process everything I need for the grant and they will wait to get paid after I get the grant money. The broker's compensation is for the grant writing and all of the administrative things they do, without geeting paid upfront. I liked that because I feel that it gives them a greater incentive to help me. If I don't get grant money, they won't get paid. Since it is free to apply, I don't have anything to lose.
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Click to view trivestors's profile Authority trivestors 15 posts since
Jun 4, 2009
8. Re: Need advice on how to expand a 6 month old company Jun 5, 2009 6:47 PM
in response to: godard2416
I am not to familiar with Grants. I would like some info. What are the steps that you have to go through? How long do they take? How much info do you have to give? Does the project need to improve or help people to get them?
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Click to view Creditbuilder's profile Mogul Creditbuilder 134 posts since
Jan 17, 2009
9. Re: Need advice on how to expand a 6 month old company Jun 5, 2009 7:17 PM
in response to: money_matters
I may be tooting my own horn here, but all you have to do is be a us citizen and own or run a business -- for more info go to businessformationgroup.com/grants
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Click to view Creditbuilder's profile Mogul Creditbuilder 134 posts since
Jan 17, 2009
10. Re: Need advice on how to expand a 6 month old company Jun 6, 2009 12:50 AM
in response to: money_matters
and it takes about 60 days after your app to be submitted to get funding.
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Click to view Creditbuilder's profile Mogul Creditbuilder 134 posts since
Jan 17, 2009
11. Re: Need advice on how to expand a 6 month old company Jun 6, 2009 12:41 AM
in response to: money_matters
last post did not show -- but it takes about 60 days to get the grant money.
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Click to view Intelicapital's profile Mogul Intelicapital 36 posts since
May 20, 2009
12. Re: Need advice on how to expand a 6 month old company Jun 9, 2009 12:13 PM
in response to: money_matters
Feel free to contact me if you still have a need. fundsource@intelicapital.com or 817-701-2015 ext 201

Thanks,
Brian
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