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    3 Replies Latest reply on Aug 21, 2010 6:12 PM by burk04

    This business forum is NO help

    burk04 Newbie

       

      I'm reading the same answers as I did 4 months ago when I was looking for advise and help. There's no one on here that has realistic answers, its just people beating around the bush.

      For new business out there trying to secure financing, forget banks, SBA, or free money. It's like a dog chasing their tail, and then eventually you'll be out of breath. In today's economy the only way your going to be able to start a new business is on your own dollar. So you have to raise it yourself, take out personal loans, look into your retirement,ect Pulling your own resources.

      Yes SBA is a great organization, but their not a bank. The most they can do is help with business plans, personal experiences, and point you to SBA loan approved banks. The banks still have to approve you according to their policies, and they don't care that SBA will back the loan 90%, 85%, or 75%, if you can get approved on your own, then the backing doesn't matter, that's just there for insurance if you default when they thought you were a good risk.

      Investors, well if a bank isn't going to put money up front, what makes you think an individual risking his own money will. I was once told, best thing I ever heard. If you're not willing to risk your own money, why would anyone else.

      This is just my own personal experiences when I was in the same place as a lot of others on here. If you want something in the small business world, it's all comes from YOU!
        • Re: This business forum is NO help
          amspcs Ranger
          Burke--you make some points, but I cannot totally agree with you. I've seen a lot of knowledgable folks give some pretty sound advise to people with reasonable needs and questions posted on thie forum.
          .
          On the other hand, there are some who seek to turn this forum into a "I have poor credit but need a loan anyway" fest---yes, it's pretty much a waste of time for all involved. And the spammers can be very
          annoying as well.

          But to make blanket statement that "this forum is NO help" is just untrue in my view.
            • Re: This business forum is NO help
              KathleenF Scout
              Hi Burke,

              I totally understand your frustration with funding. The economy is what it is so we have learn to manage within its boundaries. This forum is here to provide guidance on the process of starting, owning and operating a small business. We don't allow investor, loan or capital requests, so if you need help with the _process _of finding an investoror applying for a business loan, we'd all be more than happy to help educate you on the process.

              Do you have particular information you are looking for? I'm sure we can gather the troops to continue the discussion.

              @amspcs, the spammers ARE annoying! We try hard to keep them out of the community! Please do use the "report as inappropriate" to report any spam type posts. Moderators will process them as soon as possible.

              Kathleen
                • Re: This business forum is NO help
                  burk04 Newbie

                  No I don't need a loan, or any kind of financial info. When I first started out researching to open my business I learned a lot of what I've mentioned on the thread. I learned that to start a small business you either have the money on your own, or just don't open the door because there's no bank, credit card, SBA, or any other institution out there that are helping small business owners open a new business. So that's just what I did, open my small business on my money and the rest is history.

                  Yes you may be able to get information here, but finding a good tip to actually lead you to getting money in your hands for your business, not going to happen because everyone's in the same boat, great ideas, but funding them is the problem.

                  .