My business ownership dreams have been crushed. Unless I have some rich relative that will help me out with $10,000.... I can't get any loan without any investment myself. They want me to show that I am willing to put something into it, and apparently blood, sweat and tears isn't enough.
But I am currently looking for a new job. Things at my current job are changing quite alot and I don't want to be a part of it. Thay have made alot of changes that I think we will lose clients over. But I don't want to go into it here. If you are dying to know the details email me and I will email you back.
Comments (4)
Ooo, what a major bummer! Have Erik cash in his 401k for the "down payment."
Posted by Scott | February 19, 2004 9:05 AM
Posted on February 19, 2004 09:05
That is the worst news I have heard in a while. Did you speak to the folks at the SBDC? They couldn't offer any ideas as to financing? You might try hitting the library for some books about finding financing, I know they have a lot of books about it. Something I don't have a clear understanding of is an "angel investor" and there are books on how to find and court someone to be that role for you. Also, if you are pretty comfortable with the expected income you will get from that place and your efforts, there are possibilities like talking to the seller, offer him MORE than he is asking for the place if he will directly finance you. If he is not burning for the cash now, this can mean more $ for him in the long run, and can see you into the place in the first place. Or if you know anyone who might have that kind of money (I know you do, but I don't know about your relationship with the party) get your financials together and your business plan and offer them better interest on the money that the bank, or a percentage of the partnership, or what have you. I would think the SBDC would have a handle on the current rates you should offer to make it interesting to them. Don't give up on your dream... there has to be a way!
Posted by Gwynn | February 19, 2004 9:43 AM
Posted on February 19, 2004 09:43
Its the SBDC that basicly told me that I should "forget it if I didn't have anything to put into it." I'm not very happy with them. I'm just sorta bummed about the whole thing and haven't done anything to work towards my little dream here since.
Posted by Me | February 20, 2004 10:47 AM
Posted on February 20, 2004 10:47
Don't give up! That is the worst thing you can do. Look at this as a small setback, put it in the back burner while you think about it somemore and keep planning. Prove the bastards wrong!!!
Posted by Herb | February 22, 2004 11:44 PM
Posted on February 22, 2004 23:44