Everything you need to know about getting money

fundinghelpfundinghelp Posts: 1subscriber
edited January 2016 in Startup Funding
I work with start-ups all day and help them get money. Lots in real estate, which is extra tough. I think people have their head in the clouds. 99.5% of start-ups never run into some venture capital/angel investor and if they do they don't get anything. (just google 99.5% +forbes)

If your idea has a .5% chance of even getting out of the starting block, your idea is not good.

Why? Trust me when I say I have private investors with lots of money, why don't they invest? BECAUSE THEY ARE RICH!

They don't care small amounts of money or doubling 100k. They don't have TIME to figure out if your idea is good. Outside of someone in your warm market, forget about it or you'll be like the 199/200 entrepreneurs, "a professional dreamer". Smart entrepreneurs pic something in which the moons of Venus don't have to be in a certain alignment to work.

When rubber hits the road, if you want money you need one of the THREE C's. Credit, Cash Flow or Collateral. If you don't have that, internalize that, be honest with yourself about that, and then go GET that. Here is the deal on those 3 things:


Credit-
Need 680+ scores
Can state your income but always apply before you quit your day job. Banks trust people with pay-stubs.
Get over credit cards being bad. The cheapest money on planet comes from credit cards and I use them consistently under 5%

Cash Flow-
If you have a business doing 10k/mth in sales, Thats an asset.
With a 600+ score and tax returns that don't show losses, you can borrow at under 10%
Without that you can still get money, just cost more. Sometimes it gets dumb like 50%+ called MCA's. If it doesn't have a interest rate, its expensive.

Collateral-
While there are all kinds of weird title/inventory options here when its all said and done, you need paid off real estate. People want to be in first lien position now.
Here still you need good credit and verifiable income to get the cheap money (sub 5%)
If you dont you might be able to mess with a hard money guy but, risky and some want default or a huge payday.

There is no magical bank on the top of a hill lending money because you're smart or have a good idea. Good entrepreneurs get realistic.

Comments

  • ReneePhillipsReneePhillips Posts: 0subscriber Member
    Good everyone.
    My name Mrs, Renee Phillips, i am from USA CA , i am married, i have been searching for a genuine loan company for the past 2 years and all i got was bunch of scams who made me to trust them and at the end of the day, the took all my money and left me moneyless, all my hope was lost, i got confused and frustrated, i lost my job and find it very difficult to feed my family, i never wanted to do anything will loan companies on net anymore, so went to borrow some money from a friend, i told her all that happened and she said that she can help me, that she knows a loan company that can help me, that she just got a loan from them, he directed me on how to apply for the loan, i did as he told me, i applied, i never believed but i tried and to my surprise i got the loan in 24 hours, i could not believe my eyes, i am happy and rich today and i am thanking God that such loan companies like this still exist upon this fraud stars all over the places, please i advise everyone out there who are in need of loan to go for Mr. Robert .M. Clark Email via ; ( [email protected] ). he did not know am doing this for him,but i just have to do it because a lost of people are out there who are in need for a loan., they will never fails, your life shall change as mine did.

    Thanks and Good Luck.
  • blairjvaldezblairjvaldez Posts: 0subscriber
    Getting money for your small company or startup has become more flexible. 5 creative ways that fund your small business are:
    1. online landing
    2. Factoring
    3. Look for SBA loans
    4. Look for landing sources
    5. community banks

    More at: http://www.practicalbusinessideas.com/2 ... ncing.html
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