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    12 Replies Latest reply on Mar 8, 2010 12:01 AM by ScottLee2010

    Great plan, bad credit -- seeking funds

    cwgreen09 Newbie
      To experienced minds,

      I recently started a video production company and I have spent close to 20k on equipment..( HD CAMERAS etc ) of course in the video world that isn't much. I am seeking investors or loans that would allow me to advertise, web site creation, buy more equipment, hire lead positions ( Lead Editor, Lead Audio, etc ), and most importantly to get an office with. we intend to also rent out our gear and office space to create extra funds once we have it all in order. We do everything from weddings to full features. All the persons that I have found to be in the lead positions have their Bachelors degrees in the subject they are in charge of such as Film, Composing, Graphics etc. We would love to expand and get out of my basement. The biggest problem I am having is that I am the sole owner and my credit is bad, I still have some things from my recklace youth hanging over my head that I am trying to fix, and now of all things, all of my school loans are more than just knocking on the door, they are setting up shop and taking over.

      It is a catch 22 at the moment and if I had the funds I needed, the kink in the chain could be starightened out in no time. As of now the company makes just enough to get by on, however, we haven't been able to advertise to let anyone know we exist. There are a few companies willing to sub-contract many projects to us, but I haven't been able to answer them due to the lack of equipment in order to give the golden seal of quality to them. If nothing else I at the least just need a few more computers and a server w/software as our post house will draw in most of the cash flow until we get established as a high end production company.

      Since I have told you my life story, does anyone have any suggestive wisdom to throw my direction? I have plans that would make any investor a very happy one, given the chance to prove that my star does shine.

      Here is what we are about:

      Mission Statement:
      Chroma Shake Productions, LLC aims to satisfy requested objectives while delivering a speedy, yet quality production of various types of video and film services. These services may range from concept to completion for the general public, other production companies, or individual professionals in need of development. We also desire to help those in need and inspire through artistic formation of multi-media services, often regarding the humanities through helping not for profit organizations a few times each year by producing and creating media for their cause as well as projects of our own.

      However, my credit is around a 540 or something like that -- when I need it to be at 700 or higher. I intend to consolidate soon though, hopefully changing that in time. I am what you would call a complete mess credit wise.. I am one of those crazy musicians that woke up one day and decided to change his life and went to college for a dream I have always had ... to start a multi media company and eventually own a soundstage, equipment rental house, and office buildings of my own., music label, booking agency, and much more -- a one stop shop if you will. I guess I aim to be a rags to riches story in the long run. I admit, at times it sounds too ambitious, but I bet walt Disney thought the same thing years ago when he first sat down and decide to get serious about his talents and ideas.


        • We are also in the process of creating a documentary film for Sundance - and are seeking funds for that as well. I fanyone here happens to be an angel, let us know. It is our goal to create at least one feature film a year, documentary of scripted. we ( me and my lead professionals ) have also collaborated ideas and have thought of various TV shows that we make create pilots for.

      Thank you for reading this, any info or advice is highly appreciated.


      Rochester, NY Guy
        • Re: Great plan, bad credit -- seeking funds
          CEO Space Scout
          Believe it or not, many times I have heard this and often times, it is not as bad as the person thinks.

          A couple of things, I can direct to you to some help if I had some specifics but I don't want to go over that
          in a public forum.

          email me at

          I cannot make any guarantees or anything as I'm just going to direct you to some resources that have helped others I personally know in the past go from on the verge of bankruptcy to doing very well in less than a year.

          I will have to know a bit more to see what can be done.
          1 of 1 people found this helpful
          • Re: Great plan, bad credit -- seeking funds
            LUCKIEST Guide
            09, In my past life I was the controller of a T V and Film company in N Y.
            You should get offers of funds on this website. Lenders or investors want to see
            a written Business and Marketing Plan.
            Good luck, LUCKIEST
            • Re: Great plan, bad credit -- seeking funds
              moogrdotcom Adventurer
              Your business is an entity in and of itself, there are small steps you can do to grow its own credit worthiness so it relies less upon yours. Being an LLC you should already have the foundation to start building up its own credit. That would be the best place to start. As a business owner your much more succesfull when you can leverage your business in times of need and grow your business in times of expansion and not the opposite. Hard to accomplish in the startup phase, but something you should keep in mind when planning.

              I would post all sorts of baby steps by BofA censors competitors here.
              1 of 1 people found this helpful
                • Re: Great plan, bad credit -- seeking funds
                  cwgreen09 Newbie
                  As an LLC does my company automatically get some kind of credit line that isn't directly related to my personal score? If so what is the best way to establish and use that credit in order to buy new equipment or advertise with? I am working on establishing better personal credit but am in need of business things at the moment that business credit or a loan or an investor ( Angel or other ) - would for certain come in handy with.

                  I have clients that are starting to pick up since it is the new year and the holidays are gone ( so they know how much they can spend ) -- but not enough yet to get the equipment I need to do what I need to do. Am I stuck?
                  no co-signer either.

                  hmmmm BOGGLED


                    • Re: Great plan, bad credit -- seeking funds
                      LUCKIEST Guide
                      As an LLC your company DOES NOT automatically get some kind of credit line. However you can start small
                      with a Home Depot or Staples Credit Card in your business name. Use them and pay off the balance MONTHLY.
                      As your COMPANY credit gets established you will them be in a better position to buy new equipment or advertise.
                      What kind of equipment and how much?? Can you LEASE the equipment and pay monthly??
                      Again, LUCKIEST
                      • Re: Great plan, bad credit -- seeking funds
                        moogrdotcom Adventurer
                        As luckiest said, you don't automatically get anything but you have to start somewhere. A Simple "credit plan" may be all you need to leverage your business more than your personal scores/credit.

                        For example if you build up using an Office Depot / Office Max card that helps you get a D&B and Experian file.

                        The "simple" form of the process is.

                        Phase 1:

                        • Get a business phone - make sure its in 411/directory services
                        • Get your EIN
                        • Get your Business Bank/checking
                        • Get your D&B Number - ask for the government bidding number. Don't fall for credit builder.

                        Phase 2:

                        • Apply for staples card. Fairly easy. Usually 2k off the bat
                        • Apply for Office Depot Card - Ditto
                        • Apply for other "net 30" accounts. Reliable, Uline, Quill, local places
                        • PAY AS SOON AS YOU GET THE BILLS! - Pay early - Pay often. Your D&B Paydex is a scale of how quick you pay your debts. Your experian is similar but includes other secret formulas they don't care about.

                        Phase 3: - A Month or two after Phase 2

                        • Apply for Gas cards - exxon/shell - usually pretty easy. Revolving like a credit card. Use wisely, PAY IN FULL
                        • Look / Use more of your "net 30" - pay early & on time.

                        Phase 4: - 3 Months after phase 2 - have to wait for "reporting"

                        • Apply for Citi Platinum Plus, Chase Business, Amex Business - You will have to "PG" these (personal guarantee) but the debt on these is NOT reflected on your personal score.


                        Phase 4 is important because it is what will finally let you seperate YOU from your LLC more than any other phase. For example during the ENTIRE time you are doing phase 1,2,3 & 4 you should be pulling your credit reports weekly/daily from a service like Amex Credit Secure and disputing any information that is wrong/incorrect and updating any out of datte information. While you're doing phase 1,2,3 do NOT i repeat do NOT apply for any personal credit - you want to save your inquiries for phase 4.

                        thats the gist of it.. come up with your own plan to scale up and start building your business score. A healthy business score teaches you how to manage your cash flow better and gives you more comfort in knowing what you can succeed.
                          • Re: Great plan, bad credit -- seeking funds
                            cwgreen09 Newbie

                            that sounds like a good plan.. now only if my personal credit was good enough to back step 4 -- I don't see that happening without fixing my equipment problem of ( not having the right tools for the jobs ) - I mean, I know I am on the right track and good at what we do because a lot of companies around my area are trying to hire us to help them catch up on their editing - in other words they see our talent and we are nice to them and these companies ( our competitors ) are also our clients.

                            I think we'd be doing pretty well if we had the right stuff. I mean, if we can even make our competitors our clients then that is pretty good. we also have to advertise which is also $$$$$$$

                            That is why I am wondering about all o fthis, I am trying to:

                            1. buy new equuipment which will be worther without the next step
                            2. advertise like there is no tomorrow

                            If I can do thsoe two at least then all the other things I want to do will fall into place - including having the funds to pay everything back and to fix all of my credit .

                            thanks Ladies and Gentlemen
                            • Re: Great plan, bad credit -- seeking funds
                              Rehab223 Newbie

                              Why did you make the statement "don't fall for credit builder"?
                        • Re: Great plan, bad credit -- seeking funds
                          fredrick Newbie

                          I am a certified loan lender.I offer secured/unsecured loans to individuals and companies at low interest rate.I offer long and short term loans.My firm has recorded a lot of breakthroughs in the provision of first class financial services to our clients especially in the area of Loan syndication and capital provision for individuals and companies.

                          We have brought ailing industries back to life and we back good business ideas by providing funds for their upstart. We have a network of Investors that
                          are willing to provide funds of whatever amount discreetly to individuals and organizations to start business and operations. We also recruit Agents to assist our client companies to receive payments for their goods and services. In our bid to be useful to you, please contact us as soon as you can and indicate how this firm will be of very useful effect to you

                          Looking forward to your reply.

                          Kind Regards,
                          Richie Banks

                          Fredrick Financial Agency
                          P.O. Box 1390, Stn. B, bulham, ON M9L 2W9 Uk.
                          • Shop your Options - but also be Creative with your Marketing
                            My-Financial Newbie
                            NY Guy ,
                            As far as getting the funds you are doing the right thing... you have to ask and spread the word (you might also check out prosper, but definitely compare your offers, don't assume because you have challenged credit that you can't shop).
                            You have a great concept and I am sure you will get the funds you need. However, being in video production you should be able to create massive exposure for yourself for FREE. I would suggest creating some How to videos, like how to produce your own videos professionally, but giving them the option to contact you for a quote. Then you can submit your videos to mutliple sites. To read more on video marketing go to my site under Online Business & Marketing. We will also be launching My Financial Network TV in about 6 months and will be featuring user submitted videos on a variety of business related topics.
                            Submitting Articles is also another way to create Free exposure for yourself. Get creative with your marketing! There are a lot of options out there to get FREE Advertising.
                            My Two Cents,