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  #1  
Old 02-17-2013, 10:28 PM
firehunter85 firehunter85 is offline
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Join Date: Feb 2013
Location: Derby,CT
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help with finding funds

My companies name is mow4lessLLC, and we keep hitting bumps in the road as afar as finding funds, any ideas, or advice y'all can give me, i really appricate, i have been trying to get to the SBA for a business loan, but i found out from a buddy of mine that the SBA does not support our line of work, is this correct information?
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Old 02-17-2013, 10:34 PM
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JB1 JB1 is online now
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When I read your company name and then you say your having funding problems, well you guess the rest.
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Old 02-17-2013, 11:09 PM
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sildoc sildoc is offline
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Sba is not going to really look at you unless you are legit and looking for a major upgrade in you 1-2 mil company. I would suggest you do a budget and try to grow slowly till you know what you can really do. Don't forget about real costs and unforeseen costs. Cutting for less draws down what the real worth is and can bite you later. Just a thought. Work on quality rather than cheap.
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Old 02-18-2013, 01:07 AM
205mx 205mx is offline
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Just keep mowing for less. Eventually you'll have so many clients you won't need to borrow any more!

:-) cheers
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  #5  
Old 02-18-2013, 06:25 AM
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ELS Landscape ELS Landscape is offline
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I don't know if the SBA looks down at the industry but they are like other banks. They look at what is the market value of the business should it become defunted. For this reason they do like franchises because a Franchise is easier to sell because the Franchisor has a brand, proven business model and system.

You should have a business plan at some level of sophistication. You can meet with SCORE and have them coach and review the business plan. They likely will have you work on it,revise it and repeat then add more to it. Once that is done, they will likely look at your potential and needs then hook you up with a banker. Expect a small loan if any.
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  #6  
Old 02-18-2013, 06:55 PM
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grandview (2006) grandview (2006) is online now
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You have a local bank or credit union you can join? they are helpful .
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  #7  
Old 02-20-2013, 09:55 PM
jonniebud jonniebud is offline
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monie

ask for credit where u get ur equipment.its all credit so build urs up the better credit u get the more likely u can get cash else wear
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  #8  
Old 02-20-2013, 10:10 PM
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sildoc sildoc is offline
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Credit is over rated, and a detriment to a company. Look up Dave Ramsey and listen a few times. If you really want to succeed in life and business you have to sacrifice. Getting all new equipment and stuff now doesn't get you any where faster than you would have buying used as you go. The biggest key is Advertisement and quality work, regardless of your equipment you will succeed.
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Old 02-21-2013, 12:36 AM
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Vanderhoff Landscaping Vanderhoff Landscaping is offline
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Quote:
Originally Posted by JB1 View Post
When I read your company name and then you say your having funding problems, well you guess the rest.
That's what went through my mind as well!
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  #10  
Old 02-21-2013, 12:41 AM
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Vanderhoff Landscaping Vanderhoff Landscaping is offline
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If you are having problems with funding do you think adding more debt in the form of a loan would be wise?
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