help with finding funds

Discussion in 'Starting a Lawn Care Business' started by firehunter85, Feb 17, 2013.

  1. firehunter85

    firehunter85 LawnSite Member
    Posts: 2

    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? :hammerhead:
     
  2. When I read your company name and then you say your having funding problems, well you guess the rest.
     
  3. sildoc

    sildoc LawnSite Silver Member
    Posts: 2,925

    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.
     
  4. 205mx

    205mx LawnSite Silver Member
    Posts: 2,345

    Just keep mowing for less. Eventually you'll have so many clients you won't need to borrow any more!

    :) cheers
    Posted via Mobile Device
     
  5. ToddH

    ToddH LawnSite Silver Member
    Posts: 2,184

    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.
     
  6. grandview (2006)

    grandview (2006) LawnSite Gold Member
    Posts: 3,466

    You have a local bank or credit union you can join? they are helpful .
     
  7. jonniebud

    jonniebud LawnSite Member
    Posts: 32

    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
     
  8. sildoc

    sildoc LawnSite Silver Member
    Posts: 2,925

    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.
     
  9. Vanderhoff Landscaping

    Vanderhoff Landscaping LawnSite Senior Member
    Posts: 383

    That's what went through my mind as well!
    Posted via Mobile Device
     
  10. Vanderhoff Landscaping

    Vanderhoff Landscaping LawnSite Senior Member
    Posts: 383

    If you are having problems with funding do you think adding more debt in the form of a loan would be wise?
    Posted via Mobile Device
     

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