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    6 Replies Latest reply on May 25, 2009 8:06 AM by enterpriseti

    Veteran Looking for Funding

    barkerg Newbie
      Hello everyone,

      I am a disabled vet who came home and started a business. I had created a good, but very small client base. I got a little overzelous and took a gov contrator job in Kuwait and ended up having to come home because I couldnt handle the physical stress of the mission. I would like to restart my business! I am not needing a huge amount of monies, but a personal loan is not possible due to young age bad desisions. I am not sure what to do here. Any suggestions would be great, oh and $7k would be more then enough!

      Thanks for your help.

        • Re: Veteran Looking for Funding
          BizSolutions Adventurer
          Hi, please email me as we may have some solutions for you.

          • Re: Veteran Looking for Funding
            rpmpsu Wayfarer
            What business are you looking at and have you done research on your competition? Check with Score They have small business classes, I just took one and got some good info and contacts. Try meet up an online community for different groups. Try Entrepreneur or small business, you should be able to find good contacts there. Good Luck Keep us posted.
            • Re: Veteran Looking for Funding
              LUCKIEST Guide
              Veteran Looking for Funding, Welcome Garrett

              First of all welcome back and have a Great Memorial Day

              Best of luck in restarting your business. You got a good suggestion from "rpmpsu" about SCORE.
              SCORE is FREE both in person and online.

              You also need to develop a Business Plan. It is one of the first items that a lender or investor will want to read. And YES SCORE can help you with the plan.

              • Re: Veteran Looking for Funding
                LUCKIEST Guide
                Veteran Looking for Funding, Welcome home Garrett

                Have a great Memorial Day
                • Re: Veteran Looking for Funding
                  phanio Pioneer
                  There are a couple of things that you can do:

                  First and foremost - try to improve your credit. I know that this does not answer your immediate need - but if you are serious about getting back into business for the long-run - if you don't improve your credit - it will always be an obstacle holding you back from many opportunities. Not only will creditors look at your credit but so will vendors, suppliers and some customers.
                  While you cannot go back and change the past, you can do things now to make those past negatives have less weight.

                  There are some financing options that do not put as much emphasis on credit as traditional lenders. Good credit is above 700 FICO (excellent credit is above 740). For most lending these days, 700 is the cut off. However, there are a few companies (usually non-bank companies) that will go down to 640 given that everything else for their decision is inline. There are companies that will lend based on assets (physical assets like equipment that can be purchased (even for start-ups) or if already owned can be sold for cash then leased or bought back (these are just paper transactions) or financial assets a business may have.

                  There are also a few lenders that will provide unsecured funding in either personal loans or business loans for the amount you are seeking.

                  We have information and resources about all of these products on our website.

                  Business Money Today
                  • Re: Veteran Looking for Funding
                    enterpriseti Newbie

                    Garrett, what is the nature of your business in Kuwait? I too am a disabled veteran and would be interested in networking with other disabled veteran owned small businesses doing business in Kuwait and othe Persian Gulf countries. I have an IT consulting/IT solutions small business and would like to learn how you broke into the Kuwaiti market?