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
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
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