financing a new business

[LuvsRetro]

Hi, EddieX:

I just searched Ebay, they have it - just type in free money lasko in the search

[Anonymous]

Well I do have the book here somewhere...would have just typed up the coffee house info and given it to the person who asked. Just don't know where I put it. Big book but nothing that really helped me.

[Red1Blue]

Hi dede26, first thing in the biz credit, never never never give PG to any of the biz accounts. Second thing if your personal credit is hurting, it is the best time to improve your personal credit while you are building your biz credit. As per the SBA loan, I am not sure how much you are looking for in loan.  If you are willing too wait 6 months and build biz credit, you can get upto 50K with out PG as LOC. Feel free to send a PM and I can help you get started with biz credit.

[uktaurusbulba]

Concorde, I started building business credit last summer around June. I opened Staples for $750, then made a $100 purchase through Gemplers and paid it off.Last month I opened an office depot account with a 2k limit. I just opened a Sunoco card for an $800 limit. I would really like to know what it would take to access the 50k you mentioned without a pg. Right now, my peronal credit is hurting and it will take a couple of years for it to get to the point where I can use it as an asset. 50k would be great for me to keep my business growing strong. Are there any business credit cards that can offer me a high limit after time? Im looking to tap the bigger lines. I dont see alot of info on that here in the threads. Thanks.

[Anonymous]

Eddie,

I don't know about the regulations in your state for LLC's but in SC an LLC can't be held  "personally" responsible for business tl's and that is why a lot of vendors don't like to issue loc to new llc's that won't give a PG. As for the grant's, grant's are issued based on the type of biz you are building as well as the location. Example in  dede's situation....  the only way she could qualify for a federal grant is if her coffee shop was a "non profit" biz. Other types of grants are for like clean energy biz's, biz's that are locating to area's that unemployment is very high and how many jobs you will create in that area. I took some biz classes a few months ago through sba/score and this is what the instructor told us. There was another student in the class that was opening a coffee shop that was operated by "autistic children" so she would qualify for the fed grant. Make sense? The instructor also made it clear that even "grants" had to be repaid something  Mathew Lesko has not written in his book. Good luck with everyone that's looking for biz financing & credit and if you find something that is sound I would also be interested to know what it is.

Message Edited by Bran9192 on 05-16-2008 06:15 AM

[RUSTY101]

What is pg?

[Anonymous]

Personal guarantee