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8 Replies Latest reply: Jun 13, 2009 5:49 AM by RSS

Financing needed-  is private the only way???

berkompaske Newbie
Currently Being Moderated
I'm hoping to get some good advice here. If you take out start up expenses, we are doing very well since we incorporated 2 years ago(actually selling onlly 1 year!). We are expected to be at almost $1M this year. The issue is that we still have just a few more start up expenses( testing,Manufacturing, Marketing, Sales Reps etc) that continue to take the profit that would normally be our operating capital. We are in between Start up and Expansion. I'm having trouble getting financing the traditional ways b/c we LACK the following:
1) good personal credit scores- we chose to fund our business instead of the mortgage- well worth it, but hard on the score!
2) Personal Assets/collateral- We no longer own a home, and have only a small amount of actual business assets
3) Business Credit Score- Just realized I need to apply to Dunn and Bradstreet!

Any advice here? I thought Obama was going to help people like us who are hard working, hiring employees,women owned, etc. yet, the criteria STILL seems too strict! Help!!

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