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3 Replies Last post: Jun 20, 2009 8:18 AM by phanio

Where do I find less than $20,000 in working capital?

Jun 18, 2009 10:01 PM

SASURBER1954 2 posts since
Jun 18, 2009

+My business partner and I are looking for $19,000 in working capital. We own a mastectomy and cancer care boutique that caters to breast cancer patients or anyone who is undergoing chemotherapy or radiation. We started the business in July 2008 and used our own personal money to open the business and purchase store equipment and inventory. Now that we have a good idea of the actual value of our business, we want to increase and diversify our inventory and advertise more. Does anyone know who will loan such a small amount? Also, can anyone advise us on what terms are fair for such a loan? +

Tags: financing, capital, loan, business, loan, loan, to, expand, money Report as inappropriate

LUCKIEST 7,912 posts since
Aug 6, 2007

1. Re: Where do I find less than $20,000 in working capital? Jun 19, 2009 6:36 AM

Where do I find working capital? Welcome Sheila

If you want to find working capital, you need a business plan.

Do you know about SCORE?? SCORE is FREE and can help you with a business plan

Good luck, LUCKIEST

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SASURBER1954 2 posts since
Jun 18, 2009

2. Re: Where do I find less than $20,000 in working capital? Jun 19, 2009 12:24 PM

in response to: LUCKIEST

+Hi,+</stro<br />Thanks for your interest and response. We wrote a business plan before we opened our business. It was pretty difficult because we had no local competition to be able to determine the atmosphere of the local market. It turns out that we created a local niche business that caught on and was successful rather quickly. However, we made some wrong decisions at the beginning that cost us (mostly by following wrong advice from our vendors) but we have learned from our mistakes and we know it is time to get out the old business plan and revamp it. In the meatime we still need to borrow $19,000 to accomplish our goals and continue helping our customers. *

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phanio 462 posts since
Apr 7, 2009

3. Re: Where do I find less than $20,000 in working capital? Jun 20, 2009 9:35 AM

There are a couple of ways:

First - if you or your partners have good credit - you can seek a loan from a business or personal non-bank lender - these loans are unsecured.
Second - you can use the equipment you already have - sale that to a equipment loan or lease company for cash then lease the equipment back or take a loan against it - this is just a paper transaction - you don't have to take the equipment to them.
Third - there are either micro-loan companies (try ACCION USA) or peer-to-peer socail lending sites that can help.
Lastly, if you have some financial assets - like accounts receivable (even medical billing claims) or credit card receipts - then you can factor them for the money you need.

More information about all of these on our website.

Business Money Today

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ForumsFinancing Tips

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Where do I find less than $20,000 in working capital?

Jun 18, 2009 10:01 PM

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