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    3 Replies Latest reply on Sep 2, 2009 12:40 PM by phanio

    Want to open coffee shop but unsure about financing

    tamcamp Newbie

      I am wanting to open a coffee shop but my credit isn't all that great. I don't have any bad debts on my credit but my debt to income ratio is high because my husband makes the money since im in school full time and his credit has bad debt on it. Is there any options for me or would I be wasting my time to apply for a loan. I don't want to run my credit if I'm wasting my time.
        • Re: Want to open coffee shop but unsure about financing
          EZbizCredit Newbie
          Unfortunatley, there is no quick solution. The good news is it can be done. My recommandation is; setup everything the right way, A corporation is like a legal person with all the benefits plus has more advantages, such as a lot more credit, much faster, many lines of credit, unscured and a whole lot more. Start a C-corporation and build credit to it as fast as you can. When the corporation has established credit, you can do just about everything you need.. To get to supply credit, it takes 6-9 months. it can be done much faster, if you get an existing corporation that is over 2 years old. Or a corporation that already has perfect score and ready for credit building. You can build hundreds of thousands of corporate credit in a 18-24 months or less, depending on the circumstances. there are so many misconceptions about corporations. If you know what you are doing or you have an expert by your side, you can benefit so much from having a corporation or two.
          You should start a corporation as soon as you can. there is no downside. it is all good.If you know anyone who has or had a corporation that they have no use for, there is a good chance you can take over, with proper paperwork and build credit to it. I hope this information is helpfull. if you have any questions you can send me an email

          good luck

          sha noveen
          sha.noveen@yahoo.com
          949-201-6042
          • Re: Want to open coffee shop but unsure about financing
            LUCKIEST Guide
            Want to open coffee shop, Welcome

            Who are you?? Where are you?? Go to Members page and share some info.

            Have you developed a business plan that I can read??

            LUCKIEST

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            • Re: Want to open coffee shop but unsure about financing
              phanio Pioneer
              There are many options for your business but they depend on how much you are seeking and the use of the funds. If you are seeking unsecured funding - your only option would be to improve your credit histories - either bulk your score up or fix or consolidate your husbands credit.

              If you are seeking equipment - there are many non-bank equipment lenders that do not look very hard at your credit - but focus more on the equipment and the potential.

              There are also micro-lenders that (while they do look at credit) may be in more of a position to work with you in starting your business.

              But, a lot of it depends on how much you are seeking and what the funds will be used for. Plus, keep in mind that it might be easier to get several loans for different needs then trying to seek a single all inclusive loan.

              Business Money Today
              www.BusinessMoneyToday.com