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    2 Replies Latest reply on Sep 15, 2009 10:22 AM by phanio

    Business opened in 2006, with personal funds

    skye202md Newbie

      I opened my business in 2006 with personal funds , 2nd mortgage, lines of credit, credit cards..I would like to get a business loan to pay off some of my personal loans and establish lines of credit in my company name. Where can I go to look for this kind of funding..I have a D&B number but have never reported on it.
      Can someone give me some advis. I want to grow my company and consolidate debt.
        • Re: Business opened in 2006, with personal funds
          LUCKIEST Guide
          Business opened in 2006, Welcome Debora

          If you are looking to establish a line of credit and grow your company, you need to develop a business plan.

          Good luck
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          • Re: Business opened in 2006, with personal funds
            phanio Pioneer
            Your D&B will not help you unless you are seeking store or trade credit for your business. If your personal credit is solid and you have decent income in relation to your outstanding debt - there are many programs for your business. You might even consider a Micro-Loan - these non-profit organziations usually work with businesses that have been turned down by their bank.

            There are many other options that depend on your current business (like accounts receivable factoring or business cash advances or purchase order financing to complete those outstanding jobs). Many of the options open to you also depend on the amount you are seeking and what those funds will be used for - i.e. if you need equipment for your business (any business equipment including office equipment) there are equipment lenders that want to work with you.

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