Post a new topic
    19 Replies Latest reply on Aug 4, 2008 8:01 PM by WarrenD

    Need investors or loan

    djmandan2001 Newbie
      3 year old business needs to find investors and or loan to grow this company.
        • Re: Need investors or loan
          CorpCons08 Ranger
          dj,
          I would be interested in learning more about your situation.
          Please email me at d.skolnick@skolnick-associates.com.
          CC08
          • Re: Need investors or loan
            LUCKIEST Guide
            2001, Tell us more. What kind of business?? Is the business making money??
            Do you have a Business or Marketing Plan?? Do you have an Accountant??
            What are you bringing to the table for me to invest in??.
            LUCKIEST (almost 2008)
              • Re: Need investors or loan
                djmandan2001 Newbie
                My business is a comprehensive event/party rental business and disc jockey service. I have 15 years experience in the entertaining disc jockey, karaoke jockey business. My wife and I started out on a shoesting and reinvested every dime not needed for basic living expenses. We have grown it on our own capital until now. Our resources are exhausted. We have $250,000.00 of our own in at this point, and we are growing although we show a adjusted gross income of only $1,500 for the last two years consecutively. I have a manufactured home that banks and mortgage companies will not lend any more towards my equity. I need the capital to compete with the natonwide chains in our area. I need to do a tv ad campaign and billboards along with the yellow pages ads covering a 30 mile radius. We have had them since inception in 7/ 05'. All our equiptment is paid for. We rent canopies, tables, chairs, lighting, d.j. equiptment, ( with qualified d.j. only ) .We do weddings for up to 200 people now and nedd to increase equiptment to 300 people, which means more tables and chairs, trailers, trucks to deliver product to customers site of event. All our equiptment was ne when we started and added since. Any help tha is available to me, I am certainly open to evrything as I need this to get to the next level. Angel investor, small business stock offering under rule 504 Reg D something to obtain the capital needed to expand and compete.
                  • Re: Need investors or loan
                    LUCKIEST Guide
                    dj, Thanks for sharing so much in your answer. Two suggestions.
                    1) there is a new posting that might help you by M financial "GET FLEXIBLE LONG TERM LOAN AT MERIT FINANCIAL SERVICES @ 2% INTEREST RATE" Be careful!
                    2) There is SCORE. SCORE helps people in business FREE, in person or online. They can help you develop a Business and Marketing Plan as well as 26 other online courses.
                    Good luck, LUCKIEST
                    • Re: Need investors or loan
                      FCPainter Adventurer
                      I would just add this. When we started out our housepainting company, we got so frustrated that we could not get a loan. However, it turned into a good thing in the long run. For one, it forced us to get very clear on our plan and then we were able to get some very small loans from friends and family. The bigger thing was that a SCORE counselor worked with us to show us how we could do a lot more financing via customers, employees and vendors. A few examples,

                      1. We get 20-50% down payments on all work right away from customers. We jazz it up so that they can schedule the way they like or we guarantee the job will be done in a set number of days if they lock in. So, during our busiest season, we are often borrowing $10K to $20K from our customers since we can get them to pay a deposit anywhere from 20 weeks to 2 weeks in advance.

                      2. We get vendors to provide us with materials on very extended terms by offering weekly progress payments.

                      3. Our employees effectively lend to us because we pay them lower hourly wages and then have a bigger bonus pool that they earn up over the course of each quarter.

                      You'd be amazed at the way you can manage yoru cash flow by a) having a better story to convince the people you know that you are worth investing in or lending to and b) using your employees, customers and vendors to effectively lend to you. As a mentor once said - the banks figure that if you can't convince the 3 wealthiest people in your life to lend you some money, why should they. Report as inappropriate
                  • Re: Need investors or loan
                    moogrdotcom Wayfarer
                    Are you incorporated? Have you established business credit? Most of your options at year 3 will be balanced against your personal scores so the best advice i can give you is to focus on consolidating your business under your business and your personal under you personal if you haven't already done so. By that i mean can you move some of your business debt from personal loans/credit into business loans/credit and free up some of your personal capital and use that to leverage your business?

                    1500/year income in year 2 will scare off most bankers.. they won't invest in flat growth and may recommend that you liquidate some of your assets to cover your liablities and focus on your growth areas.

                    Have you ran a P&L report to see where you're making and or losing money? Have you worked with your accountant to streamline your costs? Have you been able to pre-sell some of your services as a discount to increase your immediate cashflow to lower your expenses/liabilities? Have you thought about expanding into corporate/small business events? Have you thought about self-service type events where people can just rent your chairs and equipment without a full event planning?
                      • Re: Need investors or loan
                        djmandan2001 Newbie
                        I am meeting with a local attorney to discuss incorporating and a possible internet Direct Public Offering in 08'. I have considered and done most of the suggestions that you gave. My profits are low because I have returned every dime back into the business that is not absolutely critical to basic needs. We have cut our prices to compete with the big boys, but we offer a unique service by doing everything thus eliminating the need to round up a truck, a bunch of people to load and unload and then set up and then tear down and reload and then, return all items to merchant rented from. I deliver with an enclosed trailer, and basically all they have to do is tell me what and where they want everything. All they have to do is decorate, cater or bring the food to the site and put it in my food serving equipment, light the sternos, and the entertain thier guests. Thus "Bring your food and your guests, let us do the rest" We discourage rental of items only because we do try to keep our brand new equipment looking as elegant as possible while offering a low affordable price, so we can compete with the big boys. P & L will come to light this week as tax info is being completed as we speak to turn into a newly acquired cpa as the last one did not impress me at all. I provide personal custom service, you would think that a company covering several county area would provide a personal, custom service also. I was wrong ! I love all the good conversation. I never realized there are so many people that can and will help at the drop of a hat. Hope to hear from you soon. Thank You so much for the suggestions . djmandan2001 Check our website : www.djmandan.com all descriptions of our services are there. I don't know if it is elegantly presented or not. Any suggestions would be appreciated.
                          • Re: Need investors or loan
                            moogrdotcom Wayfarer
                            Well, if you offer that good of a service, why not charge for it? Don't want to give away your goods for free. Do you figure in a tip/bonus option into your invoices as well?

                            The issue a bank will have is they will understand your needs but quesiton how more money will make you more money since technically if you returned all your profits to the business and were growing into the black you should have profited x% more. By that i mean you don't want to re-invest in your business if that investment isn't returning in the form of profits. HOWEVER if that investment is LONG term then reflect that in your business plan and show how that investment hasn't HURT your bottom line but an infusion of capital would allow you to appreciate that investment for the best return & growth.
                              • Re: Need investors or loan
                                djmandan2001 Newbie
                                Thanks for the quick response. I realize that i need to charge for the services. In the same token, Grand Rental Station, a local /ace hdwr. and many just tent,table,chair companies are everywhere in my area. I am trying to cut my share out of the areas slow economy, I do charitable donations, with non-profits by cutting the price enough to cover expenses and a little, profit to get us out in front of whole towns in the way of festivals, holiday celebrations ect. I do functions for corporations, moose lodges, vfw, american legion posts. I am trying to put us in front of as many people as possible at the least expense. I do believe with a little guidance, which I do have a SCORE advisor also, I can turn this into what I know it can be. I have two major cities, Grand Rapids, and Lansing Michigan which I am situated in the middle of ( 30 miles either direction alot of towns inbetween ). So far I have landed events in every town within a 30 mile radius. Now I need to go for the motherload. Metro areas that provide many, many, more customers which have more money than the people in the oulaying areas where I live.
                                  • Re: Need investors or loan
                                    moogrdotcom Wayfarer
                                    Metro areas will be more year round.. people tend to host events irregardles of the weather in metro areas ;)

                                    Good luck. There is bound to be lots of opportunity for networking, partnerships and growth by working with existing businesses, planners and groups to fill in where they can't as well as carve out your own market. I'd imagine the chambers of commerce in both cities would be a good place to visit & start from and then work on promoting your business through the best channels.
                                • Re: Need investors or loan
                                  JVCruz Adventurer
                                  I may not be well versed in the financial area; however, I did take a look at your site. Here's how I see it:

                                  The main page seems too cluttered. Although colors are creative, it can also be an eye-sore. I would stick to 1 or up to 2 colors. Green and Yellow tends to hurt the eyes. The Header graphic with the Red and Dark Grey (on the Karaoke & Event Rentals pages) makes it difficult to the eyes. I would use white or yellow for the font color of the header as you used in the Home page. You may want to use a CSS or use frames on your site. The changes from page to page is dizzying (?).

                                  On your pricing and packaging page, the large font size, different font colors and purple background is a bit of a turn-off. I would suggest to keep it simple, yet elegant. I would use smaller fonts and eliminate the background color -- keep it either white or black (like black tie affair). I would also put your packages listed side-by-side (like a comparison chart) in a table. All pages should fit a standard color, font size and background.

                                  These are just some of the things I've noticed. Good luck in finding the funding you need.

                                • Re: Need investors or loan see my licensed contractor needs
                                  santagata4u Newbie

                                  Hello fine sir could u give my forum subject a response when u have a moment I would greatly apreciate your wisdom thank u John T. Santagata III
                                • Re: Need investors or loan
                                  markbenson Newbie

                                  I am Dr Shyne, a Private Money Lender and a cooperate financial for real estate and any kinds of business financing. I also offer Loans to individuals, Firms and cooperate bodies at 3.5% interest rate per annum and 1.5% interest rate monthly base, loan terms determinant,Loan amount between the sum of $5,000.00 to $100,000,000.00 US Dollars, £5,000.00 to £800,000,000.00GB Pounds. Loan for developing businesses a competitive edge/ business expansion.We offer the following kinds of loans

                                  No matter where you are, our services extend worldwide. Please get back to us if you desire a fast loan. If you have any doubt or if you have the intention to apply for a loan.*
                                  please contact Dr. Mark benson, our foreign account manager via our*

                                  email address; *dr_shyne1965@yahoo.com**.*

                                  You shall well be atended to. You are a few step to obtain a foreign guaranteed loan.*
                                  Dr Shyne*
                                  • Re: Need investors or loan
                                    MaggieMagee Newbie
                                    Have you talked to Sweetex Loan. I noticed they posted on your question. I have been talking with them and
                                    just curious if anyone has been funded by them.
                                      • Re: Need investors or loan
                                        djmandan2001 Newbie
                                        thanks for the response Maggie, i have not replied to them. have youhad any luck getting a loan thru them ? reply with what you have found out. thanks again djmandan
                                          • Re: Need investors or loan
                                            SJCarpentry Wayfarer
                                            Had a suggestion that worked for us. Have you tried getting supplier financing. Our carpentry business struggled with cash flow as we added more employees, built out our advertising, bought equipment etc. We were surprised to find that both our lumber yard and equipment supplier were willing to provide us with some financing beyond typical invoicing terms. You may want to go to your top suppliers and see if they can work with you to help you borrow through times when you have planned to have cash flow dip.
                                              • Re: Need investors or loan
                                                FCPainter Adventurer
                                                I would just add this. When we started out our housepainting company, we got so frustrated that we could not get a loan. However, it turned into a good thing in the long run. For one, it forced us to get very clear on our plan and then we were able to get some very small loans from friends and family. The bigger thing was that a SCORE counselor worked with us to show us how we could do a lot more financing via customers, employees and vendors. A few examples,

                                                1. We get 20-50% down payments on all work right away from customers. We jazz it up so that they can schedule the way they like or we guarantee the job will be done in a set number of days if they lock in. So, during our busiest season, we are often borrowing $10K to $20K from our customers since we can get them to pay a deposit anywhere from 20 weeks to 2 weeks in advance.

                                                2. We get vendors to provide us with materials on very extended terms by offering weekly progress payments.

                                                3. Our employees effectively lend to us because we pay them lower hourly wages and then have a bigger bonus pool that they earn up over the course of each quarter.

                                                You'd be amazed at the way you can manage yoru cash flow by a) having a better story to convince the people you know that you are worth investing in or lending to and b) using your employees, customers and vendors to effectively lend to you. As a mentor once said - the banks figure that if you can't convince the 3 wealthiest people in your life to lend you some money, why should they.
                                            • Re: Need investors or loan
                                              WarrenD Adventurer
                                              Hello, did you have any luck with Sweetex Loan? In the same position looking for a loan, wonder if I should waste my time. Any info appreciated THANKS Warren