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    1 Reply Latest reply on Sep 11, 2011 4:47 PM by Marcus A. Roman

    start up financing looking to get back into business

    falconsmith Wayfarer

      hello.  this is my first time on this forum so please be patient. 


      i am looking to open a produce / deli.  i have this information available immediately.  demographics. direct and indirect costs. rental agreement. floor plan.  equipment needed and costs. traffic study. "light" pro forma . operating costs.  location. business plan. marketing. iror. ebit.  matinee signage and advertising.  payroll costs, taxes, utilities, build out, maintenance program, payback plan. etc.


      here's the problem(s).  i was a real estate developer.  my last loan from la salle bank was for 108mm dollars.


      here are the obstacles.  i filed a bankruptcy on sept 30, 2009.  my credit scores went from upper 700's and 800's to a dismal 659 thru 695.  this is a start up. 


      to open the store the amount is $82,487.37.  i am looking to obtain financing in between 35 and 50 thousand.  which means i will have money in the game.  i have been involved in the food industry for the last 2 years with a friend on a wholesale level.  i am looking to go into retail. 


      i have a 2 part business plan.  one to open the store and upon growth, then go to chain store / franchise.  will remain ambiguios at this time as for 2nd phase. 


      can someone direct me to any lending source that will look at a "C player" with now weak credit?  i have multiple years in business and operations within these business'.  automotive scrap yards, automotive engine re-manufacturing, concrete (flat work), sewer and water infrastructure, house line, sub-divisions, land development. my companies combined a profitable cash flow in excess of 40mm annually.   my last real estate project had a gross value of 445mm dollars when the economy tanked as did i. 


      thank you for your time and consideration

        • Re: start up financing looking to get back into business
          Marcus A. Roman Newbie

          There's a book by Charles H. Green titled, The SBA Loan Book: Get A Small Business Loan--even With Poor Credit, Weak Collateral, And No Experience (SBA Loan Book: The Complete Guide to Getting Financial Help)


          He's a VP of a well-known bank in the area of small business lending. If anybody knows what it takes to get a bank to give you money when the deck is stacked against you - it's this guy. Hope this helps, keep me informed, thanks