We are getting really frustrated in trying to find financing for our startup. We did not think an SBA loan would be so difficult. We have about 50% owner contribution and an excellent credit score, but we are still being asked to have a guarantor. They love our plan and our targeted market, but startups are just too risky, apparently. Even a guy that collects a fee to help with SBA loans said there is very little money for startups this year and to wait until 2009. He said with the Mortgage mess and the uncertain economy, no one is lending unless you have proven cash flow.
Plan B is to finance the remainder from credit cards and any other money we can get our hands on. We sill still need the POS, oven and some other equipment to be leased, which also looks gloomy at this point.
Plan C is to scrap our plans for this market and just try to find any going-out-of-business or owner-sick-of-working place.
Plan D is to pimp our wives.
I am beginning to feel beaten down like canucklady! :lol:
Just wanted to vent a little. Not sure if there are any ideas out there we haven’t already pursued.
Plan B is to finance the remainder from credit cards and any other money we can get our hands on. We sill still need the POS, oven and some other equipment to be leased, which also looks gloomy at this point.
Plan C is to scrap our plans for this market and just try to find any going-out-of-business or owner-sick-of-working place.
Plan D is to pimp our wives.
I am beginning to feel beaten down like canucklady! :lol:
Just wanted to vent a little. Not sure if there are any ideas out there we haven’t already pursued.
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