I have been in the retail craft business for over 17 years. I run my own online shop since 2005. Right now I am looking to expand into a small gift shop. In my area the shop runs about $400-650 a month rent which is not bad compared to some other places I have researched.
Right now I am looking for a grant or place to obtain funding for the shop. I have obtain most of my inventory so I am saving some money there. I look for funding of $10,000 to get me started.
#1. "RE: Funding for Gift Shop" In response to Reply # 0
First of all forget about grants. You will be wasting valuable time and effort in search of non existent free money. There are no free rides folks.
While $10,000 doesn't sound like a lot of money, a bank or any lender for that matter, will still expect you to meet the same requirements as someone asking for $100,000. You will need excellent credit, at least 20% of the required capital coming from you (cash), experience in the industry and collateral.
The same criteria will be required even for a micro loan.
Considering the economic conditions we are living under today, getting a loan is a long shot. Your best bet is to write your business plan and then start approaching family and friends for personal loans or investors. If your formal business plan can substantiate your assumptions (profitability) and you can get others excited about your business idea, then you might be able to raise that $10,000.
Have you considered finding other crafters and creating a co-op? Maybe with a group effort you can come up with the capital and share the space and the expenses?