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7 Replies Latest reply: Mar 7, 2009 3:02 PM by vlakh01 RSS

I need a 25k small business loan

nouaga552 Newbie
Currently Being Moderated
Hi,

I am a small IT consultant company based in MD.
Since 6 years, I always had small sub contracts for different major consulting companies.
Because of my good track record, my customer is willing to give me a bigger contract. I will need to hire 4 subcontractors to do help the work.
The customer pays Net 30.

Any help?
  • Re: I need a 25k small business loan
    ezloan4unow Newbie
    Currently Being Moderated
    Hi , Do you process your sales with credit card?
    If you make sales every month at least 12000 per month you would be able to be funding your bank account with $25000 in 72 hours
    No papers, no credit score, no reference
    100% secure.
  • Re: I need a 25k small business loan
    LUCKIEST Master
    Currently Being Moderated
    I need a 25k small business loan

    SURE, Who are you?? Where do I mail the check??
  • Re: I need a 25k small business loan
    bmt2008 Novice
    Currently Being Moderated
    There are two options that I can think of that might help you. These can be used separately or inconjunction with each other.

    First, if you have outstanding Accounts Receivables (your invoices that you are waiting to get paid for) you can factor those receivables. You can get cash now - instead of waiting 30 days or more to get paid. Further, if you have a steady level of receivables - many of thee factoring companies will provide a line of credit based on past volumes or future projected volumes of your invoices. These lenders do not focus so much on your strengths or the strenghts of your business but on the credit worthiness of your customers. Yes, they will contact your customers. But, I would estimate that 90% of your customers are already familiar with this process. You could also contact your customers first - letting them know what you are doing and why you are doing it - i.e. - to grow and expand your business so that you can offer them better products and services

    Second, Purchase Order Financing. Here, if you have a contract(s) in hand - meaning that you have signed contract for your offerings - from a credit worthy customers, there are purchase order financiers who will pay (fund) what you need to complete the order - be it inventory, supplies, or even labor. Again, they will contact your customers - but I bet many are already fimilar with these programs. Thus, you get the funds you need to complete or even compete for bigger contracts and still get to keep the profits - to help fund the next big one.

    If you want more information about these programs, we have some indept information on our site (NO COST TO YOU). You can then search our database for companies either local to your area (in your state) or nationwide that provide these types of funding.

    Remeber, we do not charge anything - we just provide the information and resources.

    Best of luck
  • Re: I need a 25k small business loan
    vlakh01 Newbie
    Currently Being Moderated

    Hi There,

     


    Today the banks that are still lending are local and regional banks. Also we find that credit unions are fairly active in the small business and personal loan area. I am going to recommend that you try this excellent forum and also check out our website for the most detailed listing of bank in your state with small business ranks. Also don't forget to get a good understanding of how a business loan application works.

     


    Good luck.

     


    Vivek L | Business Plans, Business Loans, Free Credit Report and Credit Score analysis and much more..

     

    http://www.smallbusinessplanresources.com/

     


    En espanol

     

    http://www.smallbusinessplanresources.com/spanish/index-spanish.php

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