I own a little diner in a small town in Oscoda Mi, I was a waitress for about 22 years then when my boss decided to close or sell out i bought him out, He didnt own the building its leased. Anyways i didnt now just what a mess i was headed for, repairs for things he never took time to keep maintance on anyways make a long story short its been almost two years and i cant seem to get ahead. Im paying two payments a month to the state because i got behind . I keep getting more behind because im making so many double payments. I've tried getting a loan but i have no collateral i lease and my credit is not the best. I cant loose my diner i've brought business up since the changes, Ive been looking for grants but i dont know what im looking for. We are in a small town and im worried about my employees if i cant keep the diner open where will they go jobs are hard to find up here. Any help on what to do would be great.

Lolajean,

Also check with the nearest SBA, SCORE offices as well as local, State, regional business associations. There are a variety of organizaitons who help small business owners with various problems. They may be able to help you come up with a plan to repay what is owed and keep up with current bills.

Have you thought about tapping into community leaders for assistance with back bills. Maybe they can steer you in the right direction in who to speak with about setting up affordable payment plans.

Is there anyone in your town who may want to invest in the diner? Family and friends who may be able to help out financially, or as staff in order to cut costs? Every little bit helps.

Thanks for the tips. But ive tried that already, But they say there is nothing out there for the business im in . I guess to them i need to be a big corp not a little diner, and i dont have 50 employees that would be losing there jobs i only have 6 so to them its no biggy. But to me its alot being in a small town. I have put my heart and soul into this diner so have my employees there honest hard working people, that need there jobs. I a not going to give up . Somewhere out there has to be help.
Thanks again
Lola

> I guess to
>them i need to be a big corp not a little diner


Same problem. Companies act like I am too small to be a small business. There needs to be programs for "Micro" Businesses.

Try www.countmein.org they do micro loans and have other programs and advisors for micro to small businesses. Also try Accion USA they also do micro loans and such.

The internet is full of organizations and companies that can help. Just do not be so desparate that you fall for a scam. Check with other business owners, governmetn agencies and other busienss forums to see if they are legit.

This will take time and research to find solutions. HAve you asked your employees about partnering with you in the diner.

Maybe a couple of them will be interested in coming aboard as a partner and for a percentage of the company help pay some of the back bills. This way it is just all on you but now a a group of you.

Talk to a lawyer first before presenting this idea to the employees.

Hi Lolajean,
A Merchant cash advance is a great way to get working capital for your business fast and without the hassle of dealing with the SBA. There is no collateral required, and your credit is not an issue. As long as your business processes $3k to $4k a month in credit card sales you can qualify for funding and receive it within 10 days. I have the info for you if you need it. Feel free to send me an email.
Thanks
Rich LaMonica
rlamonica@hsfgloans.com