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    3 Replies Latest reply on Jun 3, 2009 9:53 AM by ggoodard

    I need Help!

    rattlerguy Wayfarer
      I just started my own business and I need 7000-15000 for operating expenses. Does anyone know where I can go to get help. I'm rushing because my cureent job ends on the 9th of June and I have a pending contract for my new business. I need to find funds to get things rolling. Unfortunately my credit is not the best and I dont have any business credit.
        • Re: I need Help!
          Cash_in_Hand Adventurer
          rattlerguy,

          Are you open to alternate financing? if so then give me a call or email,

          Brian Faulkner
          469-402-1125
          www.motherfund.com
          bfaulkner@motherfund.com
          • Re: I need Help!
            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: I need Help!
              ggoodard Adventurer
              I would like to open a dialogue with you. Please email me at ggoodard@aol.com