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Congratulations on getting started with your new venture. As someone that previously owned a restaurant, I know the tremendous amount of work required to get this type of business open.
You are correct that you will need a business plan. If you need help with that, I have a page on my site that details the different sections and what to consider for each.
Here's the link:
Regarding guidance on funding, I recommend that you seek out a community member here that goes by the screen name "phanio". He offers excellent insight into how to break down loans into their appropriate categories (instead of finding one jumbo cover everything loan) and sources for those funds.
If you need more specific help, please let me know.
All the Best,
Usually SBA loans require you to come up with 10% of your required start up costs. Bare that in mind while you proceed. I am in the process of trying to acquire SBA financing and I've realized that their focus is more on your personal financial history and credit ratings than what the business is about or how much it is expected to pull in. So at 21 (I'm 22) your probably going to need a cosigner.
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I am 20 years old soon to be 21 years old. I am very interested in starting a small local business. I do not have much guidance in this field, but I am looking for as much as advice as possible.The business will be a baked goods as well as a boutique. I have a lot of ideas and I am going to continue planning. I just need to know the first steps to take to get financial help. I know I need to create a business plan first, but how do i become more eligable for financial help.