109, RE: Protecting my equity|
Posted by wwcap1, Fri Dec-22-06 12:06 PM
Banks don't give anything.
No one can predict at this point because you haven't asked them for a loan yet. You need to show them what you need with your application and business plan. The amont of money you really need to do your business is the critical question at this point. If you do your plan properly, your projections should "solve for the cash" need of your business. Once you know that number, then your money comes into play, i.e. with an SBA loan you need to have 20% equity (funds) in the business.
Let me show you what I mean, go to my site at http://www.capenerconsulting.com and follow the business plan link. Download the .pdf file of the DocImager business plan you'll find there and look at the projections. They are done according to GAAP (Generally Accepted Accounting Principles).
Hope this helps.