I am have just completed a first draft of my business plan. I have an appointment with a SCORE counselor next week to go over the plan. My objective it to get an SBA backed loan from a bank. What has your experience been with the SBA and their loan process. Where the advisers helpful? What was the loan paperwork like? Did you get the loan amount you were looking for?
SBA as an Advisor/Money Source
echeandia
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It's only bad if you take more than you gave. They are waaaay ahead at this point.
Don't think for a second that the government feels bad about sticking a hand out.
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ok, I gotta say something..... He has NO idea what the federal government gives business grants for. I work with grants, everyday. In a nut shell they will not cut you a check because your an ex con, druggy or recovering alcoholic. I have worked with federal programs for the past 8 years and YES there is free money out there, but you need to qualify by opening your business in a targeted area established by the government and or hire the amount of employees they see fit. Also, when it comes to grant programs, like I already said, they dont cut checks.... they will give you tax credit subsidies, training relief programs, possibly a discount on advertising etc etc. It's not as easy as checking yourself into rehab falsly and then go get your check, that is really not an option or a persons opinion I would even consider validating as a possibility. Use your brain, put together a business plan and let that get you your funding.
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124 Posts
Sorry your wrong you qualify for vesid in ny state if you complete a rehab program and no Im not sugesting fraud you go to a rehab tell them you drink one beer a week and they will tell you your an alcholic guaranteed sign you up and after completing rehab you qualify for funding for starting your own business this is a fact I know as Im doing it right now federal program all straight up $ 10,000 grants you think you know it all you dont ps I also qualify being bipolar ssi but all you need for vesid is completing a rehad ''fact''
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Your post says it all...... Congratulations on your funding. I have been corrected by a bi polar alcholic in this field.
You're kidding right?
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416 Posts
Now there's the business I want doing my lawn:laugh: :laugh: :laugh:
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124 Posts
atleast I know what Im talking about yes you do get funding for completing a rehab yes Im bipolar smarter than you I bet completed high school 1 yr early etc etc etc the truth will set you free! Your an ass!
In Philly a black woman, over 50, recently unemployeed got 250k to open a super market store in a less then favorable area.
There is free money out there both Federal and State but when I looked to see if I quaified for any, all i could find was higher x amount of people in certain areas, be a minority, an even the industry was selective.
I will state my orginial post. There are many better ways to get funding then an SBA or a bank business loan.
I started my company up in 2006, got financing from dealers, no problems getting a 15k business credit card, homedepot card, credit at local suppliers.
I put out less then 2000 of my own money. Now you need to have good credit to do this but again an SBA or bank loan will need you to have good credit too and with a start business I seriously doubt you will get a loan without putting up collateral (the equipment purchased will not count).
There is free money out there both Federal and State but when I looked to see if I quaified for any, all i could find was higher x amount of people in certain areas, be a minority, an even the industry was selective.
I will state my orginial post. There are many better ways to get funding then an SBA or a bank business loan.
I started my company up in 2006, got financing from dealers, no problems getting a 15k business credit card, homedepot card, credit at local suppliers.
I put out less then 2000 of my own money. Now you need to have good credit to do this but again an SBA or bank loan will need you to have good credit too and with a start business I seriously doubt you will get a loan without putting up collateral (the equipment purchased will not count).
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124 Posts
Lets hear what you know about horticulture ,wetting agents polymers ,whats the stokeometric ratio fuel air ratio optim performance etc etc etc 30 years of growing pot Ive forgoten more than you will ever know about working hard ,stress, plant sciences ps Im retired I was outstanding in my field Ill have no problem showing your work up ps thanks for the money .
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1,401 Posts
Here is the way I started my business. I took the winter months before the mowing season and researched mowers, trimmers, blowers, etc. I have a neighbor who had already had an established lawncare co. I talked to him and asked alot of questions. I also know a few other people who cut part-time. Again I asked them on their experiences also. Started looking at mowers and how you could finance them. Found out I could go to my local dealer buy a mower (scag 52 wildcat) trimmers (2 redmax 2600) push mower (honda ) trailer(6x12 w5ft gate) extra blades (3 sets) trimmer line,gas cans, tie downs, air filters, plugs, blower (redmax), racks(junglejims) etc. All of this was purchased on 12 months same as cash. All I had to do was apply for the total amount. was approved in about 10 minutes and dealer told me to start loading it up! Started mowing and advertising the next month. It took me a few months and I was mowing 20 yards. When the bill came due 12 months later I walked in and wrote a check to pay it all off before the interest was tacked on. Now I have added a turf tiger and i will pay it off before the interest comes due. :usflag:
Which work will you show us up on? Hopefully not the Pot or for some probably.:laugh:
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3,095 Posts
First off, it's spelled stoichiometric.
Second, a stoich mixture will generally not give optimum perfomance in most applications.
So maybe you better hit the bong a little harder next time.
Now back to the OP's questions.
To me, this is a no-brainer, or this is what I'd do anyhow.
You have 20K capital, and you estimate it will cost approximately 15K to get going. I see you have a pretty good chunk reserved for advertising, which is good.
Why not just use that capital to start up? Or, use half of it(10K) and put the remaining 5K(a very small amount considering your credit card's limit) on the plastic?
I dunno, this is what I'd do. The less I have to deal with the government, the better. But JMO
Now, some here will say to use someone else's money to start up. I won't argue with that. Some who have given that advice most likely have far more business experience than I do. But I don't think I'd know how to do it properly. I guess in essence, I AM using someone else's money, at least for my truck.
Either way, you're in pretty good shape, being that the only debt you have is your mortgage. I WISH that was my only financial obligation at this time
Mountain, you consistently make grammatical and spelling errors in your posts. Not the traits of a scholar.
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124 Posts
atleast you know how to spell try 14.7 to 1 and no Im retired and yes I need a bong hit and dont go straight go foward.# 1 cash crop in every state 20 million smokers if Bush had inhaled we would'nt be in the mess were in.or admitted inhaling he would have an excuse .too many cold ones not enough rolled ones likely the problem .
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3,095 Posts
I'm aware of the number.
Just because it's running stoich doesn't mean it's making the most power.
A nitrous motor running 14.7:1 will end up with 8 melted pistons in a big hurry.
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124 Posts
any idiot can use spell correction and pretend there somthing there not Ive been out of school for 30 years lighten up take a bong hit for me, you need it more than me !
I do want to make one thing clear. An SBA loan is NOT a goverment loan. It is a bank loan funded and guaranteed to the bank by the gov't. If you default, the bank will go after your possesions not the gov't.
They are not as easy to get as people think. There is a lot of paperwork and fees. You will need to put up collateral and not just the equipment purchased. The equip depreciates and do to the fact it is a breakable, easy to sell without paperwork and easily hidden, they will want your home.
A bank loan again will NOT give you company any more creditablity. It WILL put you more into debt. Interest rates are high and adjustable. If your attorney or acccountant is recommending this. i would seriously look at hiring another.
PS: This thread has gone to the dump. This is for the lawn guys and i don't see what arguing about growing dope has to do with anything. it is an illegal substanse and I'm sure there other sites to debate this subject.
God Bless America:usflag:
They are not as easy to get as people think. There is a lot of paperwork and fees. You will need to put up collateral and not just the equipment purchased. The equip depreciates and do to the fact it is a breakable, easy to sell without paperwork and easily hidden, they will want your home.
A bank loan again will NOT give you company any more creditablity. It WILL put you more into debt. Interest rates are high and adjustable. If your attorney or acccountant is recommending this. i would seriously look at hiring another.
PS: This thread has gone to the dump. This is for the lawn guys and i don't see what arguing about growing dope has to do with anything. it is an illegal substanse and I'm sure there other sites to debate this subject.
God Bless America:usflag:
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652 Posts
This guys right. I'm running a 30 grand rig tip to tail. 15 from the truck dealer and 15 from the mower shop. Scores a joke In my eyes as of last week. If your looking for a loan to start up make It big enough to buy some one out or make sure you have some work lined up or you'll be out of job and credit
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