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    3 Replies Latest reply on Mar 20, 2014 10:41 AM by pauljoachim

    start up

    kay4 Wayfarer


      what can a new business owner get help such as loan or other wise. Car business to be specific and how can you get your credit fix to get to where you want to be be

        • Re: start up
          Guide

          Welcome to our forum, kay4. Could you please introducing yourself to the community and tell us a little bit more about your business so that we may better guide you in a positive direction. Ex: What stage of your business are you in? Do you have a business plan? Where are you located? What avenues have you already taken to procure a loan?

           

          In the mean time, please peruse our forum and offer us your business opinions so that we may gain direction and guidance from each others experiences. I am sure that many of our community members will appreciate your expertise and value what ever information you can offer us. Please peruse our forum and offer us your business opinions so that we may gain direction and guidance from each others experiences. I am sure that many of our community members will appreciate your expertise and value what ever information you can offer us.

           

          My advice to you is speak with your accountant to find out what exactly you need to do to begin the process of fixing your credit. Not every credit fix is the same. It all depends on why and how your credit was ruined.

           

          I look forward to reading your posts.

           

          Melinda

            • Re: start up
              kay4 Wayfarer

              Thank you I don't have business plan in writing but I know how I will be running the business. I have the business set up I am located in Highpoint NC The status of the business is that everything has set up as in all the licenses and the approval has been received.  I am ready but the money for the inventory is the problem as you know this is the season for the Used car sale. I have consulted my bank and some other financial fund, nobody to loan because the business is new. Thank you

                • Re: start up
                  Guide

                  That's great that you are ahead of the game. I asked about a business plan because many financial institutions and private lenders ask for it when applying for a loan. Again, you're one step ahead and know how you would like to run your business. It might be helpful to put it on paper. To help you out we have a great business module that can assist you. Take a look and see what you think. Building Your Business Plan

                   

                  When you approached your bank, did they specifically tell you why you wouldn't be a good loan candidate? Get specific with them and ask what it is you need to do. Sometimes a bank is not the right place to receive funding. There are many ways to skin a cat, so to speak. We have another great business module you could view to help you decide where you might consider getting funding for your business. How to Raise Capital

                   

                  Keep us posted on your progress. We have many forum members that are brilliant business people and can offer many different avenues if you should get stuck.

                   

                  Melinda

                  • Re: start up
                    pauljoachim Scout

                    If you sell directly to the consumer you are pretty limited in the funds you can get.  If you sell to companies you could look into purchase order and invoice factoring as a line of credit or funding as a start-up as well.