Startup Funding for New Business

ryanhereryanhere Posts: 1subscriber
edited May 2008 in Startup Funding
Hello I am trying to find out where I can find startup loan for a new business.  I have poor credit due to a recent bankruptcy.  I do have a great paying job and currently cleaning up my credit.  I am working on opening a Discount Grocery Store.  I know of one in a near by city who is making alot of money with this business.  My wife has worked at the store and was a manger there. 
 
I have over 15 years of experience in management in retail and other businesses.  I have already put togeather a business plan and a projection on profits.
 
I need about $25,000.00 to start up and run for about three months this would be all costs needed to start.
 
If anyone can help or know where I can get this start up please let me know thanks.

Comments

  • RunItByDebRunItByDeb Posts: 0subscriber
    it seems that your best bet is going to be OPM..other people`s money..you say you have a biz plan, great! do you feel it is rock solid? Imagine this- if you were presented with this business plan and you had $10k making small amounts of money in a CD account, would you lend it to that person that to start the discount grocery store? if not, then figure out why and go from there.  OPM is definitely going to be the way for you!
  • ryanhereryanhere Posts: 1subscriber
    Thanks and yes I feel pretty good about it.   Is there a place to post for feedback concerning my biz plan?  Also you say OPM is there a site with this info?
     
    Thanks again
  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member

    Thanks and yes I feel pretty good about it.   Is there a place to post for feedback concerning my biz plan?  Also you say OPM is there a site with this info?
     
    Thanks again

    The "business planning" forum is intended to be used for questions - rather than a "full" review of the plan.
    If you want someone to read your plan and give comments , I`d start with your local SCORE location. They might offer that as a free service.
    If you want a full review there are several companies that offer such a service - for a modest price.
  • LizhrdtLizhrdt Posts: 0subscriber
    You can get a lease even if you just filed.
    You are not looking for a lot...you can go to Prosper.com (I think that is the name), or email me and I can give you a list of start-up leasing companies (expensive) [email protected]
  • ryanhereryanhere Posts: 1subscriber
    well I checked prosper and with the bk they would not do anything but with leasing is that for equipment only or is that start up funds if so I am interested in more info
     
     

    [email protected]
  • ConsultnowConsultnow Posts: 1subscriber
    Ryan
    While it is true you will likely need OPM, it is unlikely that you will be able to raise 25k from any investors.  You are much more likely to raise the capital as a part of a private debt solution.  In this instance a private note-holder may provide you the funds for a piece of equity and structure repayment terms.  In many cases you will have to make quarterly or monthly payments and you may pay a larger than normal interest rate, but the timeline will be much  shorter.  In addition, you really need to provide more info on your business to really get a determination of your options as my first question would be how you will get operations underway with such a small investment.
    More info regarding the funding process can be found at www.developmentstyles.com, as the writer there is very knowledgeable about this.
     
  • sportsguy7sportsguy7 Posts: 2subscriber
    I purchased the Fundraiser 1.0. I am not sure what happened. I applied to a couple of the sites and then it disappeared. I was wondering if anyone would be able to advise me on what to do. Or how to find it again. I did not get enough time to look at more lender sites.
    Thanks
  • deezinerdeeziner Posts: 0subscriber
    Do you have an SBA development center in your area?  If so, they will be a huge help with your biz plan (the one in my area offers free consultation and will review my biz plan for free.) They are also going to be able to give you advice on getting local money for your startup.
    SCORE is a good idea too. They have lots of info on their website about how to write a good plan, and you may get a low-cost or free review.
    Best of luck to you. It would be great if you post here later about your progress
  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member

    well I checked prosper and with the bk they would not do anything but with leasing is that for equipment only or is that start up funds if so I am interested in more info
     
     
    [email protected]</A>

    Ryan,
    Acquiring capital for a startup is not always easy - but it`s not impossible either. Your personal credit situation may eliminate the more common sources (banks)  - but there are several other possibilities. In fact, you may need to use more than one to satisfy your funding needs.
    Developing your optimum capital strategy based upon your business plan is a good place to start. The strategy (plan) will clarify what you need to be Capital Ready- which is the next step.
  • caribcarib Posts: 0subscriber


    Funding Available For Any Business!
     



    After trying numerous websites for angel investors, funding, etc., I’ve not gotten a single offer, but I did find Fundraiser 1.0 and wanted to share it with you. 


    If you’re tired of looking for capital for your business, do what I did to start my business; you can do it online.  Bedzzz Inn Retail raised $92,867 in capital online in 90 Days with No Banks, No Investors, and No Monthly Commitments.  Now, you can learn what they know about generating capital for yourself.  




    Many entrepreneurs are doing this right now, and it’s working!
     





    http://g2url.com/KGAOD/
     

  • centerprisecenterprise Posts: 0subscriber
    I would suggest that you contact angel investors. Check out www.breadstreet.com .
  • bereal1975bereal1975 Posts: 0subscriber
    All is Ok when 25000 is all you need. Have you ventured as far as a loan consulting company? Funds are available up to as much as 145,000 and the money is completely unsecured! This means no house, property or any assets at all are needed to qualify for the funds. Not only that but the funda can be available within two days. Simply "google" unsecured personal loans for a loan consulting company.
     
     

    www.FirstAmerigo.com

     Good Luck!!!
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