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Forum nameFinancial Feast
Topic subjectRE: Are there any funding options for me?
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=105&topic_id=147&mesg_id=214
214, RE: Are there any funding options for me?
Posted by Roseb441702, Sun Mar-18-07 02:08 PM
>The very first thing you need to do is write the business
>plan. You need to have this worked out on paper before any
>bank or other lending institution is going to even talk to
>you.
>
>Make an appointment iwth the local Small Business Development
>Center asap.
>
>Tarnished credit isn't the only factor that is looked at. You
>have to be able to show in your Income/Expense Projections and
>Cash Flow Projections that you would be able to pay the loan
>and all other expenses and have positive cash flow.
>
>Of course, the above isn't everything! You ahve to show a
>marketplace need and want for your services.
>
>Your extensive experience in the field is also looked upon
>favorably. In your plan, discuss this extensively.
>
>Good Luck!
>
>

Very good advice to foolow!

And the one thing that should be emphasized is the fact that when you are seeking funding it is the funder that you have to convince

A question that I would like to ask though is why you want to start on such a large scale basis. Have you considered starting small or is starting with an outside business is the way you want to start?

Are they financing options? Sure there are but you have to remember that whether it be grants or loans or even both you have to show them why they should help fund you.