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    5 Replies Latest reply on May 27, 2009 3:33 PM by banks1411

    need working capital

    banks1411 Newbie
      magazine publishing company in need of 5mill for working capital and other expenses, can anyone suggest where we can get funded, we have 5 year business plan and have been in business for 3 years.

      banks1411
        • Re: need working capital
          ggoodard Adventurer
          Please forward your executive summary to me ggoodard@aol.com

          Thank you
          • Re: need working capital
            ggoodard Adventurer
            Please send me an email ggoodard@aol.com
            • Re: need working capital
              bizconsultant Scout
              Well if you are established for over 2 yrs like you say, it should be easy enough to establish vendor credit lines sufficient enough to take care of any expansion needs you have. If its equipment,marketing, supplies,printing,etc... then that should be easy enough, but I review alot of business plans and rarely does the business need as much as they state. I can probably help you through our performance based program (covers business development and helping with financing) but we would probably scale it down a bit to make it more viable. If interested, contact me at ajones@abcsolutions.cjb.net or 877-849-1412
              • Re: need working capital
                Tracker

                Its not a startling news release that sources of capital for small business are very tight now. A couple of things that sources of capital are going to want to know or ask about are:

                1) Do you have assets with value that can serve as collateral?
                2) How strong is your business and personal creditworthiness?

                If you have assets with value and and good/decent credit - there are lenders out there ... its just a matter of spending time/effort to hunt one down with interest in working with you (and you in working with them - you have to watch for their terms & conditions of the funding - particularly now since there are funding sources that may take advantage of current situations and prey on businesses hungry for money). I can suggest some avenues and sources for you to explore (in fact I received an email earlier this afternoon from a commercial lender looking for clients that are having a hard time with conventional banks and lending institutions - but again, you have to watch out for their terms & conditions which I'm not familar with for this particular source).

                Having a strong and compelling business plan will help (especially if you plan to search for angel investors instead of sources of debt-based funding). I can send you some tips on that approach if you are interested, just let me know.

                Dennis Lowery
                Adducent, Inc.

                As a side note: be very careful in dealing with people that reply to your posts with offers to help you, that don't have a complete profile, that shows detail about themselves and their business (such as their full real name, phone numbers and business website etc.). As a general rule for you (and anyone reading this posting), iIn your desire to find a solution or source of funding, don't engage too deeply with anyone that "sounds" like they can provide that solution until you are sure about them (please feel free to check me out too). Don't send anyone sensitive information about your business if you don't know that they can offer you legitimate help and assistance.