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    7 Replies Latest reply on Mar 14, 2009 4:21 PM by bmt2008

    New Business.. Need help

    business_newb Newbie
      Hello out there. My name is Aden, and I have come to notice that the reply posts to this site seem to offer a lot of help, so without further a do, here is my situation. I am 19 years old. My friend and I have come up with a brilliant business idea. It's targeted audience are people in the age range of 18-late 20's, especially college kids. There is only one other business that offers our service, and it is 20+ miles away from our university. We have a town center 2 miles away from our university, and that is where we want to place our business. It generates amazing traffic, especially on weekends. It's the perfect location with no competition. We've seen the space that we want to rent out and it requires little upgrade. The only problem... we don't have any start-up funds. We need about 35-45k to make sure we do this the right way and not waste the opportunity. Being that we're young, no one is taking us seriously. Family does not want to invest, but they are helping us put together a business plan using their connections since we didn't know how to make it on our own. I don't see how a bank would be willing to lend out that kind of money to two 19 year olds. It just doesn't seem realistic. So really, I'm looking for advice/help from anyone out there that is willing to offer.

      How to come up with the money
      Advice on getting a loan
      Business plan advice

      I'm looking for anything that would help us accomplish our goal in starting this business. Any advice would be greatly appreciated. Thanks
        • Re: New Business.. Need help
          LUCKIEST Guide
          New Business.. Need help, Welcome Aden

          Do you know about SCORE. SCORE is FREE and can help you in person or online with
          How to come up with the money
          Advice on getting a loan
          Business plan advice

          Good luck, LUCKIEST
          • Re: New Business.. Need help
            bmt2008 Adventurer
            I would suggest you try two things - you may have to do these together or each of you do one - each.

            Micro-Credit - there are micro-credit firms that provide small amounts of financing (up to $35K) for people just like you - have a great idea but have no chance with a bank.

            Peer-to-peer social lending. This is where members lend money to other members - You get to tell your story which helps in inticing others to lend to you.

            For business plan help try - SCORE (score.org) or find a Small Business Development Center (SBDC) in your area - these are free and there to help you with all your questions and business plan.

            You could also search the web for free sample business plans - this will give you an idea regarding what should be in a plan and how to organize it.

            I do say - not all sections will apply to your business and not all sections need to be filled in especailly if you are repeating yourself.

            For more information on Micro-Credit or Peer-to-peer lending - visit our site at www.businessmoneytoday.com
            • Re: New Business.. Need help
              arttown Newbie
              HI MY NAME IS ANGELA AND I WAS IN THE SAME SITUATION YOU AND YOUR BUSINESS PARTNER ARE IN. I CAN GIVE YOU SOME INFO AND LET YOU TALK TO A PARTNER OF MINE THAT CAN HELP YOU GUYS GET A BUSINESS LINE OF CREDIT UP TO A 100,000. IT IS NOT A LOAN ITS A LINE OF CREDIT FOR YOUR BUSINESS, FUNDING AND THINGS OF THAT NATURE. YOUR PERSONAL CREDIT DOES NOT PLAY A FACTOR IN YOU GETTING APPROVED. PLEASE LET ME KNOW IF I CAN HELP YOU.
              • Re: New Business.. Need help
                bmt2008 Adventurer
                Looks like you might have found what you need. Do me a favor - come back here and let us know your progress and how it turns out - good or bad.