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How can I get a loan for a 16 year old business with assets, but not cash?

by RENASANZAZ, Performer

  • Created: March 23, 2010, 12:02 pm
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4 comments

I have been running a small business for the past 16 years. I have a record label that reissues classic rock albums on CD. My website is www.renaissancerecordsus.com . I have been trying to get an expansion loan but I cannot find any banks who will do it without me putting up a house, a piece of land or some other tangible asset. I am also looking for a partner to provide some operating capital. Any ideas are appreciated.

John W. Edwards

Message Edited by ChristineL on 11-12-2009 03:20 PM
Tags: Discuss Popular Topics, Loans & Grants
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phanio | Contributor | 3/23/2010 - 12:02 pm

Lots of options for your business - you just have to know where to look.  When the banks say no - you have to get creative.
Professional Web Site: http://www.businessmoneytoday.com/

akespass | Creator | 3/23/2010 - 12:02 pm

John, if you have a studio and you own all of part of the equipment outright used in the busines, there may be sufficient equity in that equipment to get you the cash that you need.  It is called a Sale-Leaseback.  The funder (actually a lease-financing company) will buy your equipment and then lease it back to you.  Hence, it is called a Sale-Lease back transaction. You get the cash that you need and get to retain the equipment to use in your business.   Kind regards,   Robert Jacobs
Professional Web Site: http://www.smartcapitaladvance.com/jacobs

phanio | Contributor | 3/22/2009 - 10:32 pm

Lots of options for your business - you just have to know where to look.  When the banks say no - you have to get creative.

akespass | Creator | 3/19/2009 - 5:25 pm

John, if you have a studio and you own all of part of the equipment outright used in the busines, there may be sufficient equity in that equipment to get you the cash that you need.  It is called a Sale-Leaseback.  The funder (actually a lease-financing company) will buy your equipment and then lease it back to you.  Hence, it is called a Sale-Lease back transaction. You get the cash that you need and get to retain the equipment to use in your business.   Kind regards,   Robert Jacobs