by BobsGirl 6 Replies latest jw friends
I remeber reading a thread not too long ago where many of you metioned having started and administrated your own businesses. I am on the brink of doing the same. Have any of you applied for and recieved business grants? I am needing to look at different funding sources. Any advice for me?? If you would prefer to respond in an email, my address is [email protected]. Thanks!!
BobsGirl
"May the work of your hands be a sign of gratitude and reverence to the human condition." - Mahatma Gandhi
I did consider getting a grant when I first set up on my own, I decided not to pursue it when I realised how much justification I would need to make at a later time for all my expenditure.
Englishman
Bring on the dancing girls!
If you are in the US the time might be right for a loan from the SBA. I would look under government programs and go from there.
Best wishes,
Julie
You might want to talk to the commercial loan department of a bank. They have strict requirements, but the process would make you think carefully about your new enterprise. They would require a business plan, which is a good idea anyway, if you don't have one.
What kind of business is it, may I ask?
Thanks everyone,
I appreciate the advice, I have visited the SBA website and was thinking the same thing Julie.
Larc,
I am in the process of developing my business plan now. I understand that you are a businessman, would you mind emailing me your phone number. If you would prefer not to I understand, but I have a couple of specific questions that might not be appropriate for here.
Englishman,
Bob and I received your Xmas card today! Thanks so much! Yours is on its way.
Edited because I hit the enter key prematurely (blushing)
BobsGirl
"May the work of your hands be a sign of gratitude and reverence to the human condition." - Mahatma Gandhi
I run my own website for money. Didn't get a grant or anything. Spent $35 on the domain registration and everything that I've spent since then has come out of my prophets. Find a niche market, preferrably a rich niche, and cater directly to them. Worked for me. :)
I don't need to fight
To prove I'm right
I don't need to be forgiven.
Howdy,
Getting a loan from the SBA might work.....but be prepared for massive paperwork and justification as to where you spent the money they loaned you. The payback percentage in our case wasn't much better than a regular bank loan.
If you have a business plan on paper, make it look good. Even better than it is. Our banker said they always assume that new businesses are a *tad* high in their money earned expectations.
Be prepared to go to quite a few banks- lending officers are all different. If there's a new bank in town, try them. Sometimes, they're willing to be more chancy than the old established ones.
Good luck!
waiting
