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    6 Replies Latest reply on Apr 16, 2012 3:42 PM by dannowhite

    Where do I find funding for a new business

    crafts man Adventurer

      I have created a new retail store and would like to know where I might find funding to help me with start up costs. I have read that SBA might help but I have been to 3 banks who do not want to seem to use it.

       

      Thanks

       

      Dean

        • Re: Where do I find funding for a new business
          LUCKIEST Guide

          Dean, Start by Googling "Funding", "Loans and Grants" See if any apply to you

           

          There is always the S B A, the Government, there are loans and grants for women, research, health, handicapped and MORE.

           

          Think outside the box.

           

          LUCKIEST

            • Re: Where do I find funding for a new business
              crafts man Adventurer

              Thanks Luckiest, I have been thinking outside the box. I have spent many hours on Google. I do not fit into any of the minorities that seem eligible for grants. I have also been to 3 banks in an attempt to work through SBA, much like other people I have found the banks are not interested. It is very frustrating, I have a property with tons of equity, a decent credit score, a good venture, and I am matching the amount I am looking for with my own funds. I have a business plan (which a bank manager told me looks very good, but then could do nothing), and cash flow and income reports for the next 2 years.

               

              It seems the country does not want to help new start up businesses, it would be fine if I had been in business for two years, then they seem happy to go to SBA, but not for start ups.

               

              I will find a way to make this work.

               

              Thanks

               

              Dean

            • Re: Where do I find funding for a new business
              boonodoh Adventurer

              I agree, SBA doesn't help that much when you are just starting out in terms of funding. Depending on how much money you are looking to raise, you can try a combination of angel investors, friends/family/fools.  If you own a property, you might want to see if you can tap into the credit line.  Check out various business plan competitions, many of them have cash prizes.  Or you can try one of the crowd funding sites.

               

              I feel you.  It's indeed very tough to get a business off the ground.

               

              Best of Luck.

               

              Rita