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Prosperity - Welcome to the forum. Can you please provide a bit more detail about your business?
The first thing I learned in credit training is that the 2 biggest questions that you'll need to be able to answer are "what are you doing with the money?" and "how are you going to pay it back?". Along those lines, it would helpful if you could share what exactly you'll be doing like buying inventory, leasehold improvements etc. Also, do you know what your historical cash flows look like? How about existing personal and business debt obligations? Having a handle on something like cash flow and debt service coverage will give you insight into how lenders are going to view any request for a loan.
The devil is always in the details, so the more you feel comfortable providing, the better the chance that you'll get some useful information from the experts on this forum.
I would like to expand my retail Pro shop as well as add an online retail catalog as the main part of my business is seasonal (the batting cages). I would also use the money for marketing purposes, possibly hire help to take some load off of myslef doing everything. My credit is "Good" but I do have personal debt that I need to get transferred to the business since I that is what has financed the business thus far. I have had people contact me regarding credit card sales cash advances, but I can't seem to qualify for enough, well it is a catch 22 - if I could get funding I could bring more retail in, add the online catalog and credit card sales would go up.
Is it safe to assume you've already been turned down for bank financing? That seems to be the case when people turn to this forum for alternatives. How much are you looking for? How much of it would be new money vs refinancing existing personal debt? Do you have any idea what your cash flows are over the last 12 months? What other business business debt obligations do you have?
Sorry for all the questions....It's hard to give you any useful advice without having knowledge of all your business and personal fact. I'd be happy to look over your situation as a whole and give you my opinion as to what your options are (free of charge). My contact info is in my profile.
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I read over the information that you posted and I have a couple of questions in regards to lines of credit and loans for your training facility. I am an independant rep with www.fastmerchantadvance.com. I believe that if you have the simple requirements for the program that I can get you the funding you are looking for in as little as five business days.
If you have the opportunity to contact me directly please feel free to give me a call. If you are more prone to emailing that is fine as well. I look forward to assisting you in any way I can.
Indoor Training Facility in need of help!! Welcome
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Do you have an Accountant?? Did you have a Business Plan when you open??
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