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    7 Replies Latest reply on Mar 6, 2008 3:57 AM by carson

    Not sure? Need 65,000 for start up.

    mel01ziy Newbie
      I want a loan to start up a business, the thing is I'm not sure what I'm doing or how to. I want to start a company that sells feeder rats/mice, ball pythons, gecko ect. I need the loan to purchase a trailer (to live in on site), to build the foundation up on the lot, two building to house the animals for beeding/selling, and I have some credit cards that I would like to pay off and close. The property for all this is not mine. I am renting the lot. The total I have come up with is around 65,000. I have spoke to several places that will not do such a loan. The other problem is my partner has a 6 yr. old forclosure. If anyone could give an advise, or help. Thanks.
        • Re: Not sure? Need 65,000 for start up.
          diabeticdave Newbie
          I would like to obtain funding for a health food store. Who can I contact with the details and business plan? Thank you for your time. Sincerely, David W.
          • Re: Not sure? Need 65,000 for start up.
            Dangur Newbie
            What kind of capital investment are you planning to put in? Banks and lending institutions will usually only match your contributions but a detailed business plan with 5 years projections is required.

            In many cases an SBA loan requires 2 years proof of existence. As you are a start up, what kind of investment have you put in already, and how long can you sustain the company without a loan, if necessary?
              • Re: Not sure? Need 65,000 for start up.
                mel01ziy Newbie

                Not real sure how to answer. We have full time jobs and have been buying the cages and animals slowly over years, I can tell you how much my credit cards are. I'm tired of not really having a business and no money to show because of it. I would like to have all my dreams come true and the money be handed to me. But we live here on earth and everyone has to work hard. ;) I'm make monthly payments of 700.00 on cards alone. Right now I'm renting a house for 895.00 a month. Thats why I'm looking for any information on getting a loan for 65,000 to pay for building, home, animals (which will be on the same property), and all my cards. With that kind of loan and everything paid off and closed it would take me around/less than 5 yrs to pay back 65,000. The trouble is the loan.
                  • Re: Not sure? Need 65,000 for start up.
                    Dangur Newbie
                    the most important thing is an accurate and detailed business plan. I only recently started my own business after reseaerching and writing a business plan over 6 months. I put down projections for 5 years, including estimated costs and revenues. As such, the plan shows the business will be in profit inside 3 years. I inquired about a startup loan with BOA but they were only prepared to offer a line of credit. My credit rating is excellent and I'm virtually completely set up. The loan was going to be for marketing activities in the first 12 months. As such, I am supporting the business with private capital and some savings from my wifes salary.

                    The toughest part is paying the advertising marketing fees, which are largely always putting you behind. In the current economic period, you really want to be careful with loans and make sure you pay off your credit cards in full each month (if you can).

                    Somebody explained to me something about all these credit card deals that come out all the time. Many of them offer interest free cards for 12-15 months. This can be exactly like a 12 month loan, except you pay no interest....pay it off in full before the 12 months....you will have used other peoples money to support/start your business, paid no interest, built a respectable credit rating and be 12 months of the way into the 2 year minimum period most lending institutions want in order to assess for a loan.
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                    • Re: Not sure? Need 65,000 for start up.
                      carson Newbie
                      I have gone through your statements and think we should reach for a discussion,can you give me details about the business,as i wish to make investment into the business. do send informations to doncarson7@gmail.com
                      1 of 1 people found this helpful
                  • Re: Not sure? Need 65,000 for start up.
                    carson Newbie
                    All i need is just you convince me to make an investment in your company,also provide me with detailed business plan,i do want to make investment in an healthy circle.send mail to doncarson7@gmail.com