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    3 Replies Latest reply on Oct 13, 2007 12:03 PM by DomainDiva

    Is finding capitol really this hard?

    SP EVNT PLNR Newbie
      I've had a difficult experience looking for capitol. I would like to know am I going by this process the wrong way. I have been appyling for loans,and presenting my biz plan to bankers. What do you think I'm doing wrong? I am really looking for grants. Where do I find these grants and funds?
        • Re: Is finding capitol really this hard?
          profitguy Newbie

          Raising capital can be very difficult. It will often require persistence and patience. To ensure yourself the best possibility for success you must provide a clear picture of the company's operating history and a view of the future opportunities. Banks (or non-bank financing companies) are most concerned about collateral to protect their loans and/or the company's ability to cover the loan payments through sufficient cash flow. If your plan does not show sufficient cash flow to support the level of debt you are seeking, it will be very difficult to get a loan.

           

          You mentioned that you are looking for grants. What type of grants are you seeking and on what basis are you applying (woman owned, minority owned, etc.).
          • Re: Is finding capitol really this hard?
            LUCKIEST Guide
            Finding Capital. Yes and no. Are you an event planner??
            A lot depends on you and your background. Tell us more.
            Is this a new venture?? or have you been in business and looking to expand??
            Have you discussed the advantages you and your business have over the competition??
            Lets determine that the business plan is a good one and the business is right for you.
            Next you have identified that your business will fill a niche, and be profitable.
            Going to banks (more than one or two), thanks to computers, puts you on a list. NOT GOOD.
            Grants are much harder to find. Good luck, LUCKIEST
            • Re: Is finding capitol really this hard?
              DomainDiva Ranger
              Getting a grant to plan events may be tricky. You can get grant guides on the internet. Creative Fusion Concepts charges 300.00 for their package and gives you a mentor as well. The package is HUGE in information. I am using them as well. haivng someone to work with who knows the process is a good thing and worth the 300.00. Find them online.

              Finding and securing that first round of funding is stressful. I would also advise talking to friends that you have planned evnts for before and ask them to contribute for a small piece of the action.