Your Questions About Business Funding Options

Mandy asks…

Are there any funding options available for small business owners, other than traditional loans?

My store is badly in need of some cosmetic upgrades, but I need some funding to do them. However, I am leery about getting a bank loan, because I have heard that they are a huge hassle and take a lot of time to receive. I do not want to wait!

admin answers:

More options is available.
Business Cash Advance:
You are advanced up to $1,000,000 based on your current sales receipts. A small percentage is deducted from your ongoing Visa/Master Card/AMEX & DISCOVER receipts. There are no fixed payments and no fixed term time frame
for more info

Robert asks…

Need Options for Start-up Business Funding?


I’m trying to acquire funding to start up a new kind of technical training institute (for experienced IT professionals only and not a franchise). I’ve received negative responses from two banks and venture capitalists because of lack of collateral. I have 12 years experience in real-world IT in organizations and training, have done my homework and written a great business plan, and have great credit. I’m wondering what other options may be available, if any, to continue pursuing my idea.

Thank you all for your help.

admin answers:

It is your approach.

Where are you located?

I will help you ………as much as i can.
What do you plan on charging? What will you teach –or what will be your “offering” that
is different from private and public colleges? That difference is essential for your success.

Sandra asks…

What are my funding options for start up business?

I just got my DBA today but I still need funding to get my business going.
I have some money, but I still need about $2,000.
I talked to my bank (bank of america) and they don’t do small business loans for start up businesses, and it seems like I’m running into that everywhere I look.
I have a business plan and cash flow projections, I have a location I can rent for my business and the owner is currently holding it for me.
I have connections within my line of work (window tinting and vehicle wraps) and over a year of experience working closely with the owner of another shop.
I just need to know where to go or who to talk to so that I can get information on how to go about getting my loan.
I don’t have the best of credit, but over the last year it has been improving (I’ve been making regular payments and have paid off all previously owned debt).
Can anyone give me some advice or anything?
I live in Texas, near Dallas.

admin answers:

If you only need $2,000 more, why don’t you just get a job and wait until you’re ready, because if you think that you only need $2,000 more, then you have a long way to go. Have you considered the cost of the lease, utilities, marketing, insurance, etc? I hope you didn’t just plan on opening the doors without insurance and other issues. If someone tripped on your property, that’s your butt.

Like I said, $2,000 isn’t a lot, and you should really get your credit up and ZERO debt before you try to open a business. Credit is essential. I’m just shocked that you’re talking about $2,000. Really? Three months work at McDonalds will get you that.

I’m curious, how much have you saved up for this?

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