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Forum nameFinancial Feast
Topic subjectRE: Need help and guidance
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74, RE: Need help and guidance
Posted by Roseb441702, Wed Oct-25-06 09:57 PM
>I have been trying to start up an internet business for the
>last week or so. It is really more of an internet service
>then it is business. That comes to my first question, does
>that still count as a business? I will be making money from
>the advertisments, and I am providing a service for people.
>If you would like to know more about it, feel free to email
>Question number 2. Do the SBA provide and loans or grants for
>that type of business? And if so, does your credit score have
>anything to do with the decision?
>I've been trying to get in contact with the Small Business
>Administration but it seems like they are alway out for lunch.
> A few years ago I lost my job and fell behind on alot of my
>credit cards. My credit went from being good to bad ;(
>My plan is to try to get some investors to go along with this
>project and avoid the whole loan deal. How hard is it to get
>an angel investor and where can I find them? Is there a
>website where people like me can put our ideas on a
>"auction" and try to gain potential investors'
>attention? If not, someone should start one :+
>This is my first post, hope it don't suck
>Thank you,

Providing a service is a business - yes indeed! Just think about all the other websites out there that provide advertising - they are a business - no more and no less.

Your experience with the SBA isn't the same experience that I have had with them because they have phone #'s, regular snail mail address and even an email address. I can identify with trying to contact someone and not getting an answer right away but my solution to that was to keep on trying.

The SBA isn't the only source of grants (and loans) and what it really comes down to is the type of business you are operating. Grants are awarded to meet a need and if you can tie in your business with that need then you can apply for a grant (or loan). Another problem is that you are being vague about your business. You're not going to get financial backing by being vague. Remember you are convincing people to finance you and isn't it only sensible that they would want to know what they are financing?

Yes there are still angel investors around but here again be aware of what you are getting yourself into. Basically speaking investors will want to know "what's in it for them" - in other words you're going to have to show them why they should be investing in your business. A good place to start looking for investors of any type is with the internet itself - but again you have to be careful. Now I have seen sites where investors and investees advertise but there is no one set website for this because they are scattered around.