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Coming up with Capital??
Michelle, Have you developed a business plan that I can read??
The amount of money a lending institution will require that you come in with will vary on a couple of different factors. I recommend that you seek out a community member here that goes by the nickname "phanio". He provides excellent advice. He can help you as well as Luckiest on the review of the business plan.
Hope this helps.
Most lenders only require 20% equity from the business owner. However, they also require profitability in the business and two to three years in operations. But, this is where the SBA may come in. The SBA only guanatees loans underwritten by banks - but, their requirements are much less stringent. With the new rules, they don't require time in business, profitability or 20% down (mostly they require 5% down). But, you will have to write a business plan and jump through all their hoops - but, it might be a great way to go.
There are also non-bank lenders that could easily help you. All they care about is your credit and income.
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