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    13 Replies Latest reply on Mar 18, 2008 2:39 AM by TJMorehead

    Small Business Start Up Loan (Young Business Owner)

    StatesideProp Newbie
      Hey everyone and I am really glad I came across this forum, it has helped with a lot of questions I had already.

      I am looking for someone who I am able to look to as either a private investor/angel investor/non-bank loan (hard money?). The reason for this is I am only 20 years old, and whenever I have talked to the banks they have said that I do not have credit history for long enough to come back in a few years :-(.

      However, here is what is going on:

      I have been involved in Real Estate since I was 14 and absolutely love the industry. I am now a fully licensed Real Estate agent with RE/MAX and love my job. However, I have done one residential rehab and helped quite a few investors get started so now its my turn!

      I have been researching the living daylights out of several properties as I know how to calculate the ROI and frankly a lot of buildings, etc are not worth it. I have several buildings listed under $60,000 each which have full occupancy currently (some Section 8) with a minimum gross monthly income of $3,500 per building currently.

      I also have done property management on the side for a couple of people I know and have decided to make a business out of it, as I have done quite well.

      Well anyways enought of that, I need someone to talk to about taking out a loan, or a financial investor. I do prefer being in charge of things however so maybe a loan would be best. I have done a ton of research into this and have finally got everything ready to go. The market in Cincinnati is very steady and does not exprience the fluctuations that a lot of the markets throughout North America do.

      If anyone knows of anywhere to go, or someone to talk to in regards to a loan whether its hard money or what have it please let me know!

      Thanks in advance

        • Re: Small Business Start Up Loan (Young Business Owner)
          Bluesuit Adventurer

          Age shouldn't be a limiting factor in starting your own business. There are many cases of young entrepreneurs that have become extremely successful due to their great ideas and innovations. Are you looking for funding to start a real estate business of your own? Or looking for funding to start purchasing properties as a personal investment?
          • Re: Small Business Start Up Loan (Young Business Owner)
            knekter Newbie
            Hi David,

            There's a program offered that might be just what you're looking for. The investors for the program are not concerned about your credit history; just your project's ability to cover the loan payments.

            I have worked with them and find them to be very helpful in all phases of real estate investing. Fundings can be arranged in as little as 14 days!

            You can learn more about this at:

            Good luck!
            • Re: Small Business Start Up Loan (Young Business Owner)
              LUCKIEST Guide
              It is never to early nor to young to start your own business.
              You sound like you have a successful background in Real Estate. Do you OWN any Real Estate??
              Have you developed a Business and Marketing Plan?? You need outside capital and the Business Plan
              will be one of the first things the lender or investor wants to see.
              I am a SCORE Counselor and SCORE helps business people FREE. You can talk to a live SCORE
              Counselor or visit online. Good luck, LUCKIEST
                • Re: Small Business Start Up Loan (Young Business Owner)
                  StatesideProp Newbie
                  I currently have my name on the deed for one property which we bought for $265,000 did some work on and are now in the process of setting up a lease on. It appraised at $344,000 after we finished.

                  I appreciate the support guys! I can't afford high upfront fees, etc as I am a startup and young. I am looking to intially get money to start my business where I am going to purchase several types of properties:

                  1) Long term investments (Buy & Rent Out)
                  2) Section 8 Housing (Guaranteed income stream from Government)
                  3) Rehab Projects
                  4) Wholesaling Properties

                  The company is also a property management company and we are just getting off the ground.

                  I have several properties identified which fit the needs and if I can get funding I can purchase them, I am getting an amazing price as the person whose estate they were in passed away and his son has no desire to continue maintaining and running them, he just wants to sell.

                  These buildings range in price from $25,000 to $100,000 however they are all currently fully occupied, and the total income is around $20,000 then obviously expenses have to be deducted.

                  That way there would be no problem in covering the expenses of the loans, etc. It will allow me to purchase an office as well and get established. Naturally we will grow with time.

                  I am looking for as much money as I can get with the preferred amount being in the 2-500,000 range is possible, however I will take what I can get and make it work, as I have the desire, energy, passion, and knowledge base to succeed :-D.


                • Re: Small Business Start Up Loan (Young Business Owner)
                  WEBillions Adventurer
                  So, a SBA loan won't really work for you yet, maybe in the future after you've proven yourself. Your business will need to be stable and profitable to qualify for an
                  SBA loan. You'll also have to put up basically everything you own as
                  collateral. If that doesn't pan out for you, you can also consider an
                  asset-based lender. The interest rate will be a little higher because
                  they are more likely to loan to what they consider higher risk
                  • Re: Small Business Start Up Loan (Young Business Owner)
                    Txbusiness Newbie
                    Yes I may be able to help you send me a message along with your contact information to thank you.
                    • Re: Small Business Start Up Loan (Young Business Owner)
                      loan guy Wayfarer
                      • Re: Small Business Start Up Loan (Young Business Owner)
                        TJMorehead Adventurer
                        Hi Stateside Prop,

                        You have an interesting scenario. Seems like you've gotten a lot of great responses, and hopefully you were helped. In the event you need to seek other options, be advise that my company offers government financing. One of our programs is available with minimal criteria. I have provided for a synopsis of services we offer, please reference below:


                        One of the programs we offer, is called the CommunityExpress Loan especially designed for start-ups and emerging companies. There is no business plan required; no personal financial statements requested; not tax returns needed; no collateral required; no early payment penalties; no complex paper work; and no high interest rate. You only need a DBA (doing business as) certificate and a business checking account established in the name of the business.

                        Other funding programs available are:

                        Government Small Business Loans up to $2,000,000
                        Equipment Lease Financing
                        Contract Financing
                        Factory Financing
                        Revolving Lines of Credit
                        Merchant Card Processing Services
                        Merchant Card Express Cash Advances
                        Business Credit Building Program (a 7 month program)
                        Credit Restoration Services

                        I'll be happy to facilitate the appropriate funding program for you. My email is

                        Warm regards,
                        TJ Morehead