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    2 Replies Latest reply on Jan 5, 2009 2:08 PM by upsllc

    Suggestions on additional funding for growing business?

    upsllc Newbie
      In March of 2008 I opened an all-natural pet supply store. The store is growing at a healthy rate. I opened, stocked, furnished and got this far on 45K. Now my bank has a freeze on giving loans. They said under regular circumstances they would increase my LOC based on my good credit rating and relationship with the bank.

      Does anyone have suggestions on how to obtain additional funding? Not too much is required based on my growth rate but i do need additional funding to get me through the next six months. I would estimate a maximum of 20K would be required. Any suggestions would be greatly appreciated.
        • Re: Suggestions on additional funding for growing business?
          NoBullFunding Scout
          Without having a full year under your belt, most banks are going to shy away. Is there someone that has good income and credit that could perhaps co-sign the loan for you?
          It's not ideal, but many small businss owners in your situation turn to credit card debt to get them through. You could also try a peer-to-peer lending site...Prosper isn't lending right now but I'm sure people on this forum can recommend others.
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