en Getting a solid loan to purchase an existing business I have an excellent credit score, solid down payment and in the past I've made good money but for the past few months I've been researching possible businesses to purchase. I think I have a good one but I am unsure what a reasonable loan amount I could get? I am a veteran and female but I am unsure how that would help or not help. I'm located in Los Angeles which is expensive so I would need a good amount to attain a successful business. Can anyone give me any advice... I'm doing a lot of research and taking every business course I can find but I haven't found anything on loans. Thanks Loans & Grants Sun, 27 Jul 2014 00:41:27 +0000 Drell79 1100501 at Refinance Question Guys currently paying $2300 loan on a building originally was $230,000 an have paid $2300 month since 2007. Trying to re finance it for my inlaw its her business. The current payoff is $165,000 refinance would cut the payment to $1400 for 15 years. Bank says credit issues and cash flow problem. I ran the credit report I didn't see anything on it. She basically lives off her SSI and the business account is used to pay the business bills and she has $45,000-$80,000 profit on the books for the last 3 years. Profits above are with her paying $2300 a month also, and she has never looked at a profit loss statement since owning the business in the 1990's Im working on that with her now she is 68 years old. What other options do we have to refinance are there any other options? Loans & Grants Wed, 23 Jul 2014 01:22:49 +0000 Hot Pockets 1099821 at Felons find Employment I am trying to help Felons find jobs and get them back to a somewhat normal life. However I don't know where to begin to look. Can they get grants to further there education? For those of you that do not know the state/government makes a fortune off of families, because there child, brother, sister, mom or dad is in prison. Felons really don't have a chance and because of the money they make off each 1, that's why they turn them loose with no job, etc; hoping they mess up and get sent back. This is one sick system. Loans & Grants Fri, 05 Jul 2013 02:07:53 +0000 apbeasley 703851 at Seeking Loan for Life Improvement & Clothing startup Hello, I'm starting a company intended to promote and influence growth in the lives of men by providing expert information regarding fitness, nutrition, life skills (i.e. business, relationships, etc.), and spirituality. Along with this information that will be hosted on a website I'm creating a clothing line that is based around athletic males. The clothing will range from casual to black-tie but will be customized to fit the niche market of males with athletic body types. The final service I'm providing is the ability to have a fitness/diet plan customized for someone seeking to improve their current state. The website will be published within the next month and I'm currently speaking with fashion designers now to find the best one. I'm looking for a loan around $50,000 to cover the cost of the website, research and development, clothing design and production, and hiring experts to create content for the website. I have $3,000 of my own. I have an extensive business plan, which includes the startup costs. I'm currently still in school so going to a bank is out of the question. Does anyone know where I can get this loan from? Or advice to where I should go? Loans & Grants Fri, 18 Jul 2014 20:28:35 +0000 MaxLife 1098961 at 7a loan question second time around When we opened our first business location in 2008 we tried to get a SBA7a loan but were turned down or would get approved and then turned down again when it came for the loan to be funded. Two of the banks that backed out of funding us closed a year later. We funded our business through credit cards before the economy tanked and were lucky enough to get good interest rates. Our business has thrived over the years and now we need to open a 2nd location. My question is that since our business has proven itself and been around almost 6 years, will it be easier to get a 7a loan this time around? We have paid down 55% of our business debt previous debt and have never been in default of any of our business or personal loans. Loans & Grants Mon, 21 Jul 2014 01:06:07 +0000 lemurs2 1099381 at Loan Types What are all the loan type and a brief summary of each type of loan Loans & Grants Sun, 10 Nov 2013 18:04:39 +0000 brunerg 757655 at Small business loans for expansion I'm looking to secure a small business loan to help expand a small painting company that offers a variety of other skilled services. My plans of trying to get recognized by as many contractors as possible in order to stay busy has started to come together after a relentless campaign. I've currently been picked by a big box store with a promising opportunity of starting multitude crews, and expanding the company with a stable source of income, even in the slow season. Starting off I'm in the position to secure assets to slowly start expanding, but if I can secure a larger truck and trailor or box truck my plans will come together easier and will be able to gross a larger income to fund my business. I'm looking into a SBA 7(a) loan in hopes to secure funds for "machinery/equipment" My line of thought is a work truck would be considered machinery/equipment for business purposes. I'm well invested in the company and the company has grossed more in a few months than I invested in it with a year of planning and purchases. I seem to meet the qualifications, except for the possibility of proper collateral. Even though it says I can't be can't denied a 7(a) for the lack of proper collateral, I feel like this possibility of securing this loan is just right out of my reach without sufficent collateral. Does anyone know of any other avenues I could take, or has anyone secured a 7(a) loan with little collateral, or a similar loan I haven't came across yet in my research? Loans & Grants Mon, 03 Feb 2014 07:19:10 +0000 Michael Murphy 792801 at 7(a) loan question I am considering applying for a 7(a) loan for starting a new business. The checklist states that I need the following information: Business Financial Statements • Profit and Loss (P&L) Statement Ownership and Affiliations Business Certificate/License Business Overview and History Business Lease My question is: If I don't have a business yet because I'm seeking a loan for start-up, how could I possibly have this information? Or does one just need this information if they are seeking a loan to expand their business? Does anyone know? Please someone help me. Loans & Grants Tue, 24 Jun 2014 14:30:27 +0000 JcourtneyW 1092141 at Need small loan to start a clothing line Hi I am an emerging designer and want to start my own fashion line. I have done some research about the industrial apparel business such as how the production run and have been researching the market. My clothing line is contemporary women fashion. I want to start my business small and slow and have a general business plan. My first season will be 2015 spring/summer which include about 3-4 looks (5 - 6 items in total). I will sell to local boutiques to start off. I have 5k my own (saving + family support). But a small production as my plan still needs a start up capital like 20k (sample cost, website, accountant, attorney possibly, sales reps, marketing, production cost, shipment) So I want to know about what kind of load is the best for me. I have no collateral as I am still young and fresh. Any advise? Loans & Grants Thu, 23 Jan 2014 20:05:50 +0000 Kimby Sweeney 790631 at Business Loan I would like to know more about the microloan for an existing business who needs to expand to see it's full potential I have financed my General contracting company for almost a year and it has put me in debt and I would like to clear that debt and apply for a loan Loans & Grants Wed, 04 Dec 2013 15:01:48 +0000 Class2013 771851 at Looking for Realistic Places that will guranteed approve me for a loan up to $75,000.00 $100,000.00 Hello lookng for a loan from $75,000.000 up tp $100,000.00 to open and create attached programs for children and youth,,,,do anyone have any input where i can go to receive a loan for programs for children/youth? Loans & Grants Tue, 23 Jul 2013 12:56:19 +0000 Ms.Brooks 737021 at I'm in desperate need of financial help! My name is Steve. I own a barbershop in Massachusetts. And I need help! No Bank or microlender will Give me a loan. I've been in business for just over a year now. I have struggled to keep my shop open for this long. Every Bank I go to every micro lender I Apply with, Denies me a loan because of the amount of money that I'm making right now. As a barbershop I have a really low overhead. No more than $1800 a month. I'm in desperate need of a loan to keep my business open. Unfortunately every single financial institution is asking for a minimum of $5000 a monthly gross sales. If I was making that much money I would not need a loan. Unfortunately the entire barbershop industry is being overlooked by the financial institutions. Barbershop owners cannot get a loan because of the amount of money we make. Barbershops go out of business every single day because we make too little money to qualify for any kind of loan. For example; my overhead is $1800 a month, If I could just bring in $3000 a month I would not need a loan. I have resorted to payday loans to try to keep my business afloat. And that hurt me more than it helped me. I'm in desperate need for help! I just need one Bank one financial institution to let me borrow $15,000-$20,000. I could definitely afford two $250-$300 a month in repayment. My situation is... I open the barbershop June 1, 2012. I was doing fine in there paying the bills by myself up until January 2013. January February and March 2013 the state of Massachusetts got hit with major snowstorms. Some was so bad that the antistate was shut down, as a state of emergency. At that time, I made absolutely zero dollars. I've been trying so hard since then to catch up with my bills and just keep my business afloat. I resorted to payday loans to help pay some bills, but these malicious payday loan companies stole more money then I borrowed. I just hired two new barbers. I'm finally seeing the potential that my shop has. But unfortunately I'm in a situation where if I cannot come up with a loan I have to file for bankruptcy and lose everything. I just need one person one Bank one financial institution to take a chance on me and please help me! I'm desperate! Loans & Grants Mon, 16 Sep 2013 16:22:44 +0000 Bgoshop 753495 at Looking for a Short term loan? Hello, I am a small business owner, that just started about a year ago,and have a contract with the City, which I am trying to work on, so I am looking for a very short term loan to buy materials for the work. Loans & Grants Sun, 19 May 2013 17:53:23 +0000 solatagab 631131 at Took out Persi Retirement to Start Business This is all new to me. My husband and I decided to start a produce business here in our town. I took out my retirement to do so. We are just shy about 8,000. I am not sure if there is a SBA loan that could help me. We are almost finished constructing the store, we just need the loan for the purchase of equipment. I have good credit my husband not so good. Loans & Grants Mon, 16 Jun 2014 22:02:26 +0000 lcorbus 1089331 at sba qualification I tried to get a loan for a restaurant thru my bank and they want me to have 50% down. I told they I have 10% thats why i need a loan. I was told that a coffee shop, a restaurant, and a tow truck business does not qualify for a sba loan. Now Im confused, what would qualify under sba as a small business? Loans & Grants Sun, 22 Jun 2014 13:16:38 +0000 acornpjs 1091171 at Starting a hair weave business! help!!! I am trying to start a online hair weave business. I need to know should I try to find a grant and if there are none avaliable what type of loan should I apply for. I already have a business plan and the whole image of how and what ibwant mu business to become. Being that the hair industy is a billion dollar industy I know that there is money out there to be made. The only problem I have is the start up capital. I would estimate the start up cost to be about 10 to 20 thousand but I will take what I can get! Thanks for all of your advice! Loans & Grants Thu, 10 Oct 2013 18:55:17 +0000 keisha313 754531 at Are all SBA Lenders Created Equal? I am in the process of submitting SBA loan applications to several participating community banks. I am curious if all participating SBA lenders are created equal? Assuming I am applying for common SBA loan programs, and assuming I am granted a loan by multiple banks, I would like to know if there are any pros or cons in securing a loan from one bank or another? Thanks. Loans & Grants Tue, 24 Jun 2014 15:53:13 +0000 ProjectBBGreen 1092171 at Purchasing Rental Property I have been in the military for over 16 years and am interested in purchasing a local apartment complex. The asking prive is $1.4 million. I am curious to find out the likelihood of acquiring a business loan for this type of investment. The apartment rental(with a great rental history) income on the low side would bring $17,950 per month. After a little research I expect the loan payment to be around $8,000 per month. I have a BA in Business Management and 16 years experience in Human Resources. Any suggestions? Loans & Grants Wed, 28 Aug 2013 07:20:30 +0000 MrElkins 752088 at Legal marijuana businesses <p>When will the SBA start doing loans for legal marijuana businesses in states where it is legal?</p> <p><em>(This post was edited to remove a link. Please review our <a href="" title="best practices">Community Best Practices</a> for more information</em><em> about how best to participate in our online discussions. Thank you.</em>)</p> Loans & Grants Sat, 28 Jun 2014 00:26:19 +0000 dcomeau 1092851 at The HHWW- Heavy Haul Wilderness Wagon My name is Allen Farque, I am a retired railroad engineer, veteran and a inventor of a unique Trailer, that has endless capabilities that one may use in the wilderness for hunting, work or fun. This trailer has the ability to carry a capacity of 500 lbs. It is a hunting blind easily used by amputees, crippled, and has jump seats made for the unit and are easily set into place into pre made slots that are covered with heavy rubber protectors and can be removed. The trailer is completely covered with camouflage canvas and has shooting ports with zippers all around the unit or just animal or bird watchers. The camouflage canvas can be removed easily and used for riding and fun or a work trailer. The unit has a large wheel base for stability and be used as a sleeper whenever it is needed, that will keep an individual from the outside elements. The trailer is built for strength, with front wheel brakes, and overloads springs. This trailer can be pulled by any ATV or any vehicle with a trailer hitch. Loans & Grants Sat, 07 Dec 2013 15:24:09 +0000 farquea123 774741 at Start Up Loans for bad credit hi everyone! I am a small business owner in Kanas City. I have tried to acquire funding from several options such as funding from friends and family, referrals, bank loans, payday loans, title loans, and VC's. I am wondering where can I get a small business loan for $15K to help get my business off the ground. Please help this is my last resort. Loans & Grants Thu, 06 Mar 2014 23:00:12 +0000 sassysheparties 804391 at Basic 7(a) Loan for a Video Game Store Franchise Purchase <p>Hello All Who Can Help:</p> <p> </p> <p>I currently own and operate a small local Residential and Commercial Inspection Company so I know a lot about operating a business. With that said, I'm currently interested in starting a Video Game store. The store is a Franchise that would require $100,000 to buy into and get underway. I have read all of the info about a Basic 7(a) loan and it sounds like a possible positive thing for me. Before I get all of the paper work rolling and all of the necessary documents ready do you think this program is right for me and do you think this program would consider such a loan? I plan on hiring approx. 3-4 employees.</p> <p>Thanks in advance!</p> <p>jim</p> <p> </p> Loans & Grants Mon, 15 Mar 2010 17:20:14 +0000 JIM1967 82801 at I need a start up/equipment purchase loan I'm trying to find a lending institute to get a loan for 25K for a new business I'm starting up. I don't have collateral, do have a business plan, expenses needed, layout, the workers team. Anyone got a loan of that amount without collateral, only a business plan & estimate on expenses? Loans & Grants Sun, 11 Aug 2013 02:29:00 +0000 rockin utopia 751052 at Help Starting an At-Home Design Business I am a single mother trying to start a business at home. I specialize in architecture, engineering and prototyping design but I mainly do prototyping. I have been completing designs for people for quite some time now but just recently invested in my business license in Tallahassee, FL. I would like to find out what kind of financial assistance there is available for me out there. Can anyone help me with this venture? Loans & Grants Sat, 21 Sep 2013 06:33:46 +0000 AmberReams 753913 at Small business loans to former prisoners? Hi, I am new to this site and my best friend is incarcerated and she has asked me to do some research on the following question. Does the Federal Government offer small business loans to former inmates/prisoners through each state department of rehabilitation? I would appreciate any information you may have to share. She will be living with me upon release and is a very intelligent, well educated, 40yr old woman who is serving 10 months at a federal prison for a something she did in the past while battling an addiction. She has been in recovery for 5 plus years and has really turned her life around, however, trying to get a job with a felony on record can be difficult. Thanks Alice Loans & Grants Mon, 28 Oct 2013 22:24:37 +0000 sportyal 755969 at I Need Help with Microloan for a Mobile Detailing Business! I'm currently a father of 2 and desire to finally own a business (it's been a long-time desire) so I can build a business to leave for my kids. I'm currently involved in a lot of other activities (church, run a non-profit organization, musician) and need to be in charge of my own schedule. I've determined that starting a small Mobile Detailing Business will fit my lifestyle due to the low overhead and personnel costs. I can't continue to work shifts at my EMS job. I need help getting a micro-loan to get this started. My wife and I have bad credit due to defaulted college loan accounts in the past. I'm looking for $16,000 to get this off the ground. I know I'd be rejected from banks or other traditional lenders. Any advice? will SBA be a good option for me? I have done a ton of research on this market in my area and have concluded that the market is open. There is no other business like this here and I live in a demographic where there are a lot of high salary political officials, physicians, and corporate executives. I have a detailed business plan already laid out. Please help..! Loans & Grants Mon, 05 Aug 2013 23:08:02 +0000 JDom619 750377 at Bad Credit, no collateral and unable to get funded by banks Hey everyone, My name is Dave and i work with a company who specializes in providing businesses with alternate lending options. You should always attempt to get funding from banks or other sources before taking out any loans with alternate lending companies. Banks will always provide the best rates. Sometimes saving up may be your best option as well. Loans & Grants Wed, 14 May 2014 12:59:46 +0000 dave hunter 842421 at Low Credit Score Greetings everyone is the anyone out there that can advise on how I can get a Small Business Loan that offers a second chance program to people with poor credit history. Please advise I am trying to open up a business. Loans & Grants Sat, 10 May 2014 15:44:32 +0000 savagem 839141 at trying to apply for a loan i have a daycare just started it about a mo ago ...need a loan but don't know which one to apply for Loans & Grants Mon, 30 Dec 2013 04:03:01 +0000 Mrs. Jackie's 783171 at Looking for help with a loan I am searching for a loan to purchase an existing laundromat.. asking 85K any suggestions.. Loans & Grants Tue, 21 May 2013 04:05:57 +0000 nbucket 632561 at