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    0 Replies Latest reply on Jun 12, 2008 6:31 PM by sodaman

    Existing business seeking financing

    sodaman Newbie
      I've posted once before, but am interested in anyone that knows of
      sources for financing for a 3 1/2 year old business. The situation is
      slightly strange and best explained in person, but I have tax records
      for 2005 and 2006, but not 2007. In 2007 I sold my company on a
      provisional basis with a clause allowing me to take it back within 12
      months if things didn't work out. At the end of the term, I withdrew
      the business. Since the purchasing company did all of the billing in
      2007, I don't have any financial records or tax filings for 2007. I
      have, however, started to compile my records again for 2008. I have a
      business plan written (although I'm not sure if it is complete enough)
      and am ready to try to get some financing.

      I would love to get a
      Line of Credit instead of a loan, because the business is profitable
      already and can pay its bills. I need the financing as a back up
      because I am about to purchase equipment and licenses to expand my
      operations into 4 new areas. I have a loan posted on Prosper
      (http://www.prosper.com/lend/listing.aspx?listingID=348531) just to see
      what type of interest there is, but I am noticing how tight the credit
      community has gotten!

      I am interested in any opinions, constructive criticism, and advice.
      To learn about my company, go to www.sodaauctions.com and click on the
      Company Overview tab. It is a brief video of a Powerpoint that I put
      together about where we've been and where we're going.

      Thanks in advance for all of your help!
      Josh