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    6 Replies Latest reply on Jul 19, 2010 12:38 PM by phanio

    help with securing funds for small business

    lilnervous Newbie

      Is there anybody out there who can assist or give suggestions where we can secure funds to keep our business going? Our problem is we dont have the best credit anymore and we have almost drained our funds we used to start up the business? So we are in need of funds to help us with our daily living expenses.
        • Re: help with securing funds for small business
          LUCKIEST Guide
          help with securing funds for small business

          YES, Who r u?? Have you developed a business plan??
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            • Re: help with securing funds for small business
              lilnervous Newbie

              Luckiest,

              Thank you for your response. The business name is MVP Sport Images & Collectibles. We offer Personalized photo sports balls that are a perfect addition to any awards ceremony or as a coach's gift at the end of a hard fought season. We use a patented thermal process to adhere the image directly to our specially coated sports balls. This process allows us to permanently place the image on the ball. The photo becomes permanently adhered to a high quality, durable synthetic leather sports ball and not one of cheap rubber or plastic. The photo imprint is not a sticker, decal or insert. These Sports Balls can provide the adult and youth sport markets with an alternative to traditional trophies and other personalized gifts to memorialize great sporting moments and accomplishments. I run this from home and have a website, I have found myself as a vendor at different travel ball tournaments with parents flocking to the table purchasing these items and asking me for T-shirts as well. I dont sell T-shirts right now because of the cost. So while I have all the necessary equipment and software to create and design. I am running low on funds and being able to pay the monthly bills. I have marketed to several other trophy shops and print shops locally and they are willing to offer my product out to there customers which will eventually help. But I need to secure funds for working capital now. I have heard there are loans out there for minority women who own there own business? But as I stated before credit is not the best and so I fall into the catch 22. I have not developed a business plan for reasons of questioning whether I should continue down this road?

               


              With that in mind, we are most interested in receiving capital from these types of funding sources:

               

              -Equity Funding (Venture Capital, Angel, Private Equity, etc.)
              -Alternative or Loan Funding
                • Re: help with securing funds for small business
                  LUCKIEST Guide
                  help with securing funds for small business

                  Thanks for sharing. If you are looking for capital, One of the first things the lender or investor wants to see
                  is a business plan.

                  The business plan forces you to think through every aspect of your business (like a road map)

                  SCORE can help. SCORE is FREE
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                  • Re: help with securing funds for small business
                    KathleenF Scout
                    Lilnervous this link might help you find an office close to you:
                    http://www.score.org/findscore/index.html

                    Kathleen
                    • Re: help with securing funds for small business
                      phanio Pioneer

                      Forget about private equity - your business does not fit that model - you might though be able to seek out a local investor in your area - you just have to get out and network. You can simply create your own PPM and sales shares in your company - up to $5 million with registering with the SEC.

                      There are several alternative loan options - even if your credit is bad (but, having bad credit does limit your options). If you are currently earning revenue, you might be able to factor invoices or credit card receipts for working capital.

                      Another option is to find a partner that does not have the credit issues you do.

                      And, lastly, try to tap your friends and family - those who will invest in you and not your credit score. Even if your friends and family can't invest - they may of others who can - you just have to ask.

                      Business Money Today
                      www.businessmoneytoday.com
                  • Re: help with securing funds for small business
                    habika Newbie
                    This process allows us to permanently place the image on the ball. The photo becomes permanently adhered to a high quality, durable synthetic leather sports ball and not one of cheap rubber or plastic. The photo imprint is not a sticker, decal or insert. These Sports Balls can provide the adult and youth sport markets with an alternative to traditional trophies and other personalized gifts to memorialize great sporting moments and accomplishments. I run this from home and have a website, I have found myself as a vendor at different travel ball tournaments with parents flocking to the table purchasing these items and asking me for T-shirts as well. I dont sell T-shirts right now because of the cost. So while I have all the necessary equipment and software to create and design. I am running low on funds and being able to pay the monthly bills.
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