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    6 Replies Latest reply on Dec 25, 2011 3:31 PM by Mr_Peerless

    Need help regarding funding

    Mr_Peerless Wayfarer

      I've been trying to get a loan for a venue, but I have had no luck. Is there any other way that I could get the initial funds?

        • Re: Need help regarding funding
          LUCKIEST Guide

          Welcome nick, YES there are ways to get funds.

          Tell us more. Who and where are you?? What is your background??

          Where and what kind of venue?? How large a loan?? (Secured??)

          How and when do you plan on paying back this loan??

          The more info you supply, the better our help and answers.

            • Re: Need help regarding funding
              Mr_Peerless Wayfarer

              I'm in East Texas, and the venue that I'm trying to purchase is in the downtown area of the city. (Its a small city).

              As for my background, I don't have much to speak of. I've used my business model a couple of times, and each time its worked out great.

              I need a loan of $80,000. That's enough to get the venue and pay for repairs and equipment etc.

              The loan would be paid back through the business on a monthly payment plan.

            • Re: Need help regarding funding
              Mr_Peerless Wayfarer

              The times that I used it in the past don't have any paper trail, so I don't know how to show evidence of it to banks. Also, the last bank that I spoke with said that I have to be able to pay back the loan by methods other than the business itself (I guess in case the business fails).

                • Re: Need help regarding funding
                  Mr_Peerless Wayfarer

                  Sorry, allow me to me sore specific.

                   

                  What I've been doing is basically operating a night club in a small college town.

                  Since the city has had a lot of issues with my operation we've had to find different means of operation (private parties, etc.)

                  We've hosted a few events in the past that have turned out great; we had a huge turnout, made apx 80-90% maximum profit possible, and no violence.

                  The trouble with this is that since we had to go through different avenues of handling business, there is no documentation of how much money we made each time, so as far as the bank is concerned, we havn't done anything.

                   

                  The venue that I was using before was of decent size, but wouldn't work for what I'm trying to accomplish, plus it would cost more than I could afford. With the new venue, the price would be cut in almost half, leaving all profits for the business.

                  The new venue wouldn't necessarily be a night club, because during the day it would be used as something else (art gallery, learning center for local kids etc.) and individuals would be able to rent out the venue for their own private events (similar to a community events center or auditorium).