I'm in the process of starting up a socially responsible business, but am running into major trouble trying to get start-up funding. Does anyone have a recommendation for where to look? I'm not a non-profit, so most of the grants I've looked at don't apply to me, and my credit isn't good enough to get a loan with no collateral.
Any help is appreciated!
Any help is appreciated!
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Re: Help!
Thu, June 23, 2005 - 3:31 PMSince you are female, there may loan programs available to you through state or federal government programs. Years back when I was running my own business, there were a variety of programs available for small business start-up and development. Several of those were specifically targeted toward women owned businesses. Start with the Small business Administration and organizations similar to them and see what they can do to help.
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Re: Help!
Mon, June 27, 2005 - 2:16 PMCall a wealthy family member.
No grants for those with bad credit.
Sorry,
Andrew -
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Re: Help!
Mon, June 27, 2005 - 5:03 PMSo basically I'm screwed, since I have no wealthy family members (or even ones who are in a position to refinance their house), and bad credit due to things that happened and were cleared up 5 years ago.
There's *got* to be funding somewhere... I just need 40% to take to the SBA to get a loan for the rest of it. You'd think that wouldn't be so difficult!
I'm feeling discouraged because I had a potential angel investor but she's been stringing me along for months and I can't afford to sit around and wait for her any longer.
Very frustrating. How do any small businesses being run by broke women ever get started with this kind of thing happening, anyway? -
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Re: Help!
Wed, June 29, 2005 - 4:20 PMI suggest you get a very well paying day job, and as you save funds you can develope a solid plan that an angel would not waver on. It may take over a year, can you work on that kind of time line? If not, I would take a huge step back, and gaze upon yourself.
Andrew -
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Re: Help!
Wed, June 29, 2005 - 4:52 PMAndrew, I have a solid plan. The investor changed her mind due to pressure in her personal life, it had nothing to do with the proposal.
And if you have any leads on a very well paying day job, let me know :) They seem to be in rather short supply these days. -
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Re: Help!
Wed, June 29, 2005 - 5:50 PMWell,
If the plan is solid, I suggest you make a list of 25 possiable investors. This will take a few days on the internet, and some phone calls.
Then, get the plan to them and follow up.
A well paying day job is not too hard to find if you are qualified for the area of work you are looking in. Simply find 100 places you would like to work, send a resume with a very specific title that you want to have. Then follow up. Forget the idea that a company in not hiring. Things change everyday, everywhere.
Following up on your resume is your golden ticked.
In my experiances, at 30 hours a week, for 30 days, you will find the job you want.
Just gotta go "balls to the wall" all the way.
Indeed,
Andrew -
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Re: Help!
Wed, June 29, 2005 - 6:12 PMI don't know of 25 possible investors. My family and friends have already been asked, and none of them are in a position to do such a thing... and I'm not in a line of work that is conducive to finding investors either. I did recently join an organization that tries to line up angels with entrepeneurs, so we'll see if that pans out: I've already contacted several people there and am waiting for responses. So far I have one person (out of 40 contacted) who has responded back to me and is interested in seeing a full presentation, so I guess we'll see where that goes.
As for high paying jobs, I'm afraid I don't qualify for much more above what I'm already making: please keep in mind that I am 25 and have a degree in cultural anthropology as opposed to, say, IT or other higher-pay-for-less-experience professions. That's not to say that I can't live on what I currently make, I certainly can... there's just no possible way for me to save enough in the next 5 years at my current salary to get the starting collateral I need to secure a loan through SBA unless I start living out of my car. And no, I don't own a house so I can't leverage collateral out of that either.
I would be more than happy to go "balls to the wall" if I had a better idea of where the heck the wall is. We all have to start at the beginning, and that's why I am looking for advice on where to potentially go next. -
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Re: Help!
Wed, June 29, 2005 - 7:59 PMOk.
Here is a quote that hit me in the deepest part of my soul, forever changing the way thought, and showing me exactly where the wall is.
"Whether you say to yourself that you can't, or you can, you are correct either way."
Good Luck.
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