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    5 Replies Latest reply on Jun 4, 2009 9:33 AM by jim531

    Funding Needed For Expansion

    milw6020 Newbie
      Hi,

      My name is Diane and I have a manufacturing company that has been in business for a year now. I am looking for private funding to expand the business. Due to an ex business partner, I am unable to obtain a "traditional" loan with a bank, and I am looking for private funding.

      Let me start off by saying that the products I manufacture are required by OSHA on all non-residential facilities and therefore an investor(s) will be assured that they are investing in a company that is going to continue to grow.

      Here is my website to help those understand the product and know that this is a legit company and a "real" operation requesting funding. I am looking for $100,000 for working capital, additional equipment, and advertising. I also have an extensive business plan that I would be willing to share that gives more insight into the expansion process.

      Thank you for your time and reading my forum, I hope someone can help me with this, thank you, Diane.
        • Re: Funding Needed For Expansion
          LUCKIEST Guide
          Funding Needed For Expansion, Welcome Diane

          I would like to read your business plan and then we can talk

          Thanks, LUCKIEST at " pdeig@juno.com "
          • Re: Funding Needed For Expansion
            Intelicapital Adventurer

            We would be happy to hear more about your company and your working capital needs.

            Feel free to contact me:

            Brian - 817-701-2015 ext 201 or fundsource@intelicapital.com
            • Re: Funding Needed For Expansion
              phanio Pioneer
              You state that you are looking for $100K for working capital, equipment, and advertising. In this market, getting one loan for that amount of money may be a bit difficult - but, you might think about a loan for each item (even with bad or subpar credit) there are lenders - especially on the equipment side that can provide you funds to purchase the equipment you need - regardless of credit. Plus, as a manufacturer - you may have other assets that can be used to get working capital for both your operations and advertising. In this economy, you just have to get creative. And, these options will be less burdensome than bringing in investors.

              Business Money Today
              www.BusinessMoneyToday.com
              • Re: Funding Needed For Expansion
                fundconsultnt Wayfarer

                Sometimes it's better to do fundraising rather than asking for others for capital, to become more independant. But nonetheless, here's your options:

                 

                Bank Loans - One of the first options most entrepreneurs consider is a bank loan. And this is a doable option in some cases. Unfortunately, the current economic downturn has made it a challenge to get credit under most circumstances. To qualify for a business loan, you usually need to demonstrate experience in business management and provide a professional business plan for review by the loan officer. Other bank loan choices would include using your home as collateral or using a home equity line of credit to finance your business. Of course, these options are very risky.
                Family & Friends - Another source of capital is borrowing the money from the people you know. Depending on whom you know and their financial picture, this could be an effective approach. On the downside, borrowing from family and friends can be a dangerous road, especially if things go sour with the business. Make sure to get everything in writing in order to prevent problems and misunderstandings down the road.
                Use an Angel - Angels are investors who are willing to give money to entrepreneurs. A number of web sites provide resources to help connect people like yourself to potential angels. Just remember that the competition for these investment dollars is fierce so you need a great idea and you need to be able to sell that deal to others. Make sure you clearly understand the terms of their investment, including how much say they have in how the business is run, before you close the deal.
                Use Credit Cards - One of the most innovative fund raising ideas is to charge most of your start-up expenses on your personal credit cards. While this can work well for some businesses, the funding is usually too limited for larger operations. Plus, maxing out your cards can lower your credit rating and can make obtaining alternative financing more difficult down the road. Try to use credit cards only for minor purchases, such as stationery or fax machines.
                Use Fundraiser 1.0 - Another approach that has worked for many entrepreneurs is a program called Fundraiser 1.0. Basically, the program works by bringing together other people who are trying to raise capital online so they essentially help each other raise the money needed. Four fund raising levels are available with the program, including the highest level which tops out at over $11 million USD.** http://linkfrog.net/capital
                Try Government Programs - If you're located in the United States, try contacting the Small Business Association (SBA) for information about grant and loan programs designed to help entrepreneurs get started.
                • Re: Funding Needed For Expansion
                  jim531 Newbie
                  Please send me an email. jimsteele531@aol.com