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Forum nameFinancial Feast
Topic subjectUnsecured Loan for biz expansion
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=105&topic_id=14
14, Unsecured Loan for biz expansion
Posted by Bloomtastic, Fri Aug-11-06 10:10 AM
I am looking to expand my business by aquiring another retail flower shop. I am looking for unsecured business loan for around $45K. Does anyone know where I can go? My credit is good but I am maxed, so not sure how taht will way on things....Thanks!
16, RE: Unsecured Loan for biz expansion
Posted by ciliciafunding, Sun Aug-13-06 07:42 AM
We have an usecured product available, but I must admit it is not easy to qualify for. It is for established businesses that have above 700 fico. We also provide equipment leasing for expanding small busineeses that is much easier to qalify for. You can include all your furniture, fixtures, and equipment, plus some of the soft cost, in the lease. If you are interested in knowing more, please call me at 818-674-2602, or e-mail at robert@ciliciafunding.com
70, RE: Unsecured Loan for biz expansion
Posted by wjtopp, Wed Oct-25-06 09:41 AM
Still looking? I have a contact who probably can help thru creative financing. There is some qualifications needed, but not that extensive.

Regards,
Bill
79, RE: Unsecured Loan for biz expansion
Posted by Phanntom, Sat Oct-28-06 07:23 AM
The amount you're seeking isn't unreasonable but you'll have better success with anyone if you develop a business/acquisition plan that shows how the new business will be able to repay the loan. Something else that should be addressed is any effect that the new business will have on your existing one. i.e. Will it draw business away from your existing business, will both businesses benefit from an economy of scale..like buying power etc. These are questions you should want answered for yourself more so than for a lender.
Good luck
Denny
81, RE: Unsecured Loan for biz expansion
Posted by Strategist, Sun Oct-29-06 07:49 PM
I recently met with someone from Wells Fargo. They have a special loan if you have good credit. Loans are for under 50K.

However, I would talk to someone at SCORE or SBA. I would not get more into debt without some counseling.