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funding requests
nwcw2001
subscriber Posts: 2
Hello All,I have a question about doing up business plans when looking for funding. When filling out your "request" do you tell everyone how much you need or do you personalize it to the person you are sending the BP to? Translation: do you put down your total funding needs or just what you think the recipent can give?The reason I ask is because most of my family and some of my friends would loose breath at reading something like $500,000 as a funding need.Thanks Guys and GirlsJohn
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Comments
You can always create a proposal letter to people that may partially fund you, but to be fair to them as well you. your goals and needs must be clearly stated.
If I was going to fund part of a business I would want to see some idea of how and where you would find the additional funding to proceed with the plan.
I am no saying lie...but if you need 500k , I would break it up. Unless you have a lot of cash, there is not one lender that will bite off that much for a startup.
Does your new buisness have hard assets? Is it a franchise? Do you own the building, land? There are a few ways to approach your funding request.