http://www.sba.gov/community/discussion-boards/rss/13591/feed en Opening a small business as a veteran http://www.sba.gov/community/discussion-boards/opening-small-business-veteran Just looking for some advice on the benefits available to Veterans interested in starting a small business. Specifically in Oklahoma http://www.sba.gov/community/discussion-boards/opening-small-business-veteran#comments http://www.sba.gov/crss/node/829521 Loans & Grants Fri, 25 Apr 2014 05:43:54 +0000 Benhuge.bp@gmail.com 829521 at http://www.sba.gov Started Investing In Real Estate, Now I'm Stuck http://www.sba.gov/community/discussion-boards/started-investing-real-estate-now-im-stuck My story is this, I have invested all my money in a property(purchase and renovate) that is currently on the market . Its not in the worst neighborhood but its not in the best and it's not moving. I have had lookers but no takers yet. I want to get started on another property but I'm having troubles with finding money. Is it likely to pull my money out of this house and rent it and start on another one? Or does anyone have any other suggestions on what I might do? I feel like I'm stuck and not getting anywhere. Any help is greatly appreciated. Thank You http://www.sba.gov/community/discussion-boards/started-investing-real-estate-now-im-stuck#comments http://www.sba.gov/crss/node/813641 Loans & Grants Thu, 03 Apr 2014 03:31:15 +0000 nerealestateinvesting 813641 at http://www.sba.gov Looking for help with a loan http://www.sba.gov/community/discussion-boards/looking-help-with-loan I am searching for a loan to purchase an existing laundromat.. asking 85K any suggestions.. http://www.sba.gov/community/discussion-boards/looking-help-with-loan#comments http://www.sba.gov/crss/node/632561 Loans & Grants Tue, 21 May 2013 04:05:57 +0000 nbucket 632561 at http://www.sba.gov Patriot Express Loan Collateral http://www.sba.gov/community/discussion-boards/patriot-express-loan-collateral I am a disability retired Veteran looking to get about $50,000 - $100,000 loan to start up a Pizza shop, but was wondering what type of collateral would I be required to put up? http://www.sba.gov/community/discussion-boards/patriot-express-loan-collateral#comments http://www.sba.gov/crss/node/691551 Loans & Grants Thu, 27 Jun 2013 04:04:34 +0000 darnellwalker 691551 at http://www.sba.gov Opening a Gym, how to find funding? http://www.sba.gov/community/discussion-boards/opening-gym-how-find-funding My business partners and I have been working on opening our own gym for a while now and have a full business plan and everything worked out but are stuck with the funding. Where should we begin/ any tips? All help is appreciated. Thank you. http://www.sba.gov/community/discussion-boards/opening-gym-how-find-funding#comments http://www.sba.gov/crss/node/827331 Loans & Grants Tue, 22 Apr 2014 01:37:54 +0000 AndrewHur 827331 at http://www.sba.gov Business partnership buyout loan http://www.sba.gov/community/discussion-boards/business-partnership-buyout-loan I have an llc partnership with 2 other individuals. We all are equal in ownership and I am interested in buying them out. Neither of them are interested in staying in the market that we are in and just want to get out. We are profitable with no debt and have minimal overhead since we are a tech company. Our customer base is stable (we don't do any advertising because the other partners just want to collect a paycheck and let it go) and have little turnover. We've been in business for 5 years and have always had net profits without any losses. From a business standpoint, it is a strong and low risk opportunity. My question to the community is that I am looking to buy out the other 2/3rds share from my partners. I am looking at as a long term investment and see potential in its growth. I am not financially dependent on its cash flow as I have another well paying job that more than covers all my bills. I would like in the next 5-7 years for my business investments to be my primary focus and income but that's not the case right now. I want to take its profits and invest them into itself. The problem is that I was really stupid a couple of years ago and tanked my credit. It is really bad and I have been working hard for the past year trying to improve it. My car died about a month ago and I had a difficult time getting financing for a new car even though I had a down payment and proof of enough cash flow from my job to afford it. I finally got a car even though it wasn't near the rate I would've been happy with. My point is that I am worried I won't be able to get financing because of my poor past decisions even though the business is very stable and in good financial position. It would also be less than 10k to buy out the other partners so it wouldn't be a big loan. The cash flow from the business covers this in 6-9 months but I feel this is all moot because of the credit situation. Am I correct? Is there any chance that I may still get financing? Thanks everyone http://www.sba.gov/community/discussion-boards/business-partnership-buyout-loan#comments http://www.sba.gov/crss/node/826511 Loans & Grants Sat, 19 Apr 2014 15:07:57 +0000 Miracles83 826511 at http://www.sba.gov Elderly Adult Daycare http://www.sba.gov/community/discussion-boards/discuss-popular-topics/loans-grants/elderly-adult-daycare Elderly Adult Daycare opening from 6am-6pm daily, For Elderly who need supervised care in the daytime.Is there any loans or grants available to assist with this business venture? http://www.sba.gov/community/discussion-boards/discuss-popular-topics/loans-grants/elderly-adult-daycare#comments http://www.sba.gov/crss/node/827361 Loans & Grants Tue, 22 Apr 2014 03:59:01 +0000 angels 4 the Elderly 827361 at http://www.sba.gov Grants to Educate/Improve Self Awarness http://www.sba.gov/community/discussion-boards/grants-educateimprove-self-awarness I am thinking of starting a business that would allow me a unique opportunity. I would like to give back to the Deaf community, but would need assistance in structuring that part of the business finances. Paying for an interpreter and some modifications to the facility would be the primary focus of the grant, but help with the day to day would not hurt either. Does anybody know if there are any grants that would lend themselves to this activity? Thank you for your help. http://www.sba.gov/community/discussion-boards/grants-educateimprove-self-awarness#comments http://www.sba.gov/crss/node/827271 Loans & Grants Mon, 21 Apr 2014 20:17:06 +0000 jearrel.webb 827271 at http://www.sba.gov Now what http://www.sba.gov/community/discussion-boards/now-what My loan took longer than i anticipated it was recently approved but: The business i was trying to acquire is sold. I have found a similar business for sale. Do i have to start from scratch? http://www.sba.gov/community/discussion-boards/now-what#comments http://www.sba.gov/crss/node/793151 Loans & Grants Tue, 04 Feb 2014 04:49:40 +0000 immortal 793151 at http://www.sba.gov how long http://www.sba.gov/community/discussion-boards/how-long-0 Has anyone been recently approved for a loan and if so how long did it take? http://www.sba.gov/community/discussion-boards/how-long-0#comments http://www.sba.gov/crss/node/791561 Loans & Grants Tue, 28 Jan 2014 23:13:59 +0000 immortal 791561 at http://www.sba.gov trying to apply for a loan http://www.sba.gov/community/discussion-boards/trying-apply-loan i have a daycare just started it about a mo ago ...need a loan but don't know which one to apply for http://www.sba.gov/community/discussion-boards/trying-apply-loan#comments http://www.sba.gov/crss/node/783171 Loans & Grants Mon, 30 Dec 2013 04:03:01 +0000 Mrs. Jackie's 783171 at http://www.sba.gov How To Meet The Right People For Grants Funding? http://www.sba.gov/community/discussion-boards/discuss-popular-topics/small-business-events/how-meet-right-people-grants-funding Grants For Minority Women Owned Business http://www.sba.gov/community/discussion-boards/discuss-popular-topics/small-business-events/how-meet-right-people-grants-funding#comments http://www.sba.gov/crss/node/810841 Loans & Grants Thu, 27 Mar 2014 05:13:30 +0000 noraberry 810841 at http://www.sba.gov I am lost-startup http://www.sba.gov/community/discussion-boards/i-am-lost-startup I am lost! I am not sure if I qualify. First off I am a female in a rural community and I am a minority. Is there anything out there to help me with financing my start up? I want to supply housing for Section 8 and low income. I am working on my business plan now. What should my next step be. I have done my LLC, and I have my ein http://www.sba.gov/community/discussion-boards/i-am-lost-startup#comments http://www.sba.gov/crss/node/819251 Loans & Grants Thu, 10 Apr 2014 20:52:15 +0000 mrsrunpeter 819251 at http://www.sba.gov Keith Gilabert, "How to Obtain a Business Loan" http://www.sba.gov/community/discussion-boards/keith-gilabert-how-obtain-business-loan-0 First you need to create a business profile with Duns and Bradstreet and give them a minimum of 4 business references, this will create a credibility report with an estimated line of credit which all lenders require. Banks will also review your ability to pay which is commonly known as the “5 Cs” to determine if your business is credit worthy: Capacity: Do you have adequate working capital to cover your short-term obligations? Typically they want to see 6 months of working capital, which includes rent and payroll. Character: Will you pay your obligations? This is where business credibility and business credit has a large impact on loan approval. Your past business references are key for this. Collateral: What assets or guarantees can you provide to collateralize the debt? Try not to use your home or automobile as collateral, use business equipment or even better receivables. Capital: How much additional equity or financial risk will you have in the company once it is financed? Typically a bank wants to see 30% investment from the business owner. Conditions: What are the loan proceeds to be used for? Usually a bank will loan money in order to make more money. You cannot ask for a loan to stay in business, it needs to be for a project to finish with a higher appraised value. If you have any questions, please post below. Thanks, Keith Gilabert http://www.sba.gov/community/discussion-boards/keith-gilabert-how-obtain-business-loan-0#comments http://www.sba.gov/crss/node/819451 Loans & Grants Fri, 11 Apr 2014 15:09:30 +0000 keithgilabert 819451 at http://www.sba.gov Microloans http://www.sba.gov/community/discussion-boards/microloans-1 Is common-capital.org an approved microloan organization with the SBA? http://www.sba.gov/community/discussion-boards/microloans-1#comments http://www.sba.gov/crss/node/819971 Loans & Grants Fri, 11 Apr 2014 23:37:39 +0000 Milkjuice 819971 at http://www.sba.gov Taxes and Grants http://www.sba.gov/community/discussion-boards/taxes-and-grants I received a grant for $1000 from a national girls organization for workshops, for girls STEM education. I also, own a franchise, how do I report the $1000 when it is not to pay royalty fees and marketing, They want to look at our taxes at the end of the year too. I need to know the tax category. I am only getting a small stipend for the workshops. Thanks, http://www.sba.gov/community/discussion-boards/taxes-and-grants#comments http://www.sba.gov/crss/node/821111 Loans & Grants Tue, 15 Apr 2014 22:39:05 +0000 robinfrazier 821111 at http://www.sba.gov How can the SBA Protect What it Projects? http://www.sba.gov/community/discussion-boards/how-can-sba-protect-what-it-projects 0 votes Welcome aboard! How will he SBA protect what it projects? My 20 years as a small business, I've never been able to get lending, although I was pre-qualified for SBA and VA Patriot loans, as a minority and disabled Veteran owned business. I had a line of credit from Michigan Commerce community bank for many years with a high interest rate and backed by income. I publish automotive magazines and one year prior to the crisis on Wall Street and the auto industry, I prequalifed with the SBA and applied to the bank to convert the line into a long term SBA backed loan, which would have prevented default on the loan, because most auto companies stopped advertising. The bank , which was certified for Patriot and SBA lending, refused along with many other banks. They all required 100% collateral. I researched the number of SMALL business and Patriot loans by states and only two in the Washington, D.C., about 3 in Maryland, etc. If banks require 100% collateral, what is the propose of the government securing loans, if banks don't consider. I'm currently in settlement with the bank over a problem that it created. My credit is ruined and I couldn't get any assistance from the SBA. What are the obligation of SBA certified lenders if they are not respecting the SBA requirements for certification. My bank had not approved one SBA loan and was certified. In fact, I also learned the majority of bank approved loans go to foreigners, because many are secured by large mob organizations or countries. If the banks are not cooperating, why doesn't the government protect the promise it makes to small business and provide direct funding, which it projects? http://www.sba.gov/community/discussion-boards/how-can-sba-protect-what-it-projects#comments http://www.sba.gov/crss/node/820381 Loans & Grants Mon, 14 Apr 2014 04:06:18 +0000 Rpayton1215 820381 at http://www.sba.gov Where should I visit for grants from the US government for semiconductor study http://www.sba.gov/community/discussion-boards/where-should-i-visit-grants-us-government-semiconductor-study Please teach me about where should I visit for grants from the US government for semiconductor study. I would like to use ANT (Albany Nano Tech) facility, if I have US$300K, working with a professor of a state university. I would like to share the results on yield, reliability, via resistance and leakage reduction by using my technology having patent protection. Government agencies, please teach me. http://www.sba.gov/community/discussion-boards/where-should-i-visit-grants-us-government-semiconductor-study#comments http://www.sba.gov/crss/node/820451 Loans & Grants Mon, 14 Apr 2014 07:43:34 +0000 byungchunyang 820451 at http://www.sba.gov Home-Based Business Start-Up Support Options http://www.sba.gov/community/discussion-boards/home-based-business-start-support-options Disability Support for Loans and grants available http://www.sba.gov/community/discussion-boards/home-based-business-start-support-options#comments http://www.sba.gov/crss/node/806701 Loans & Grants Sun, 16 Mar 2014 17:42:08 +0000 Kat34 806701 at http://www.sba.gov I have disabilities relating to a tragedy from years ago and suffer from ADHD, does anyone offer assistance for that? http://www.sba.gov/community/discussion-boards/i-have-disabilities-relating-tragedy-years-ago-and-suffer-adhd-does-anyone-offer-assistance is taking me a long time to get where I am today, a business owner. I just got my LLC registered two days ago, and now I'm struggling because it's a lot more work than I realized. I've dug quite a hole for myself dealing with mental illness. Financially mainly. I was wondering if anybody can point me in the right direction to get assistance. I appreciate any help thank you. http://www.sba.gov/community/discussion-boards/i-have-disabilities-relating-tragedy-years-ago-and-suffer-adhd-does-anyone-offer-assistance#comments http://www.sba.gov/crss/node/806641 Loans & Grants Sat, 15 Mar 2014 00:44:55 +0000 Jaybeez 806641 at http://www.sba.gov Question regarding the veracity of lender's statements in SBA application http://www.sba.gov/community/discussion-boards/question-regarding-veracity-lenders-statements-sba-application I apologize in advance for the lengthiness. In February 2009, I was one of six shareholders (all equal shares) in a closely held corporation. The corporation had been formed in late 2007 and acquired a line of credit from a local lender. The line of credit was not to exceed $150k and in February 2009 the line of credit was $129,500. A falling out occurred between the shareholders and the most fiscally prominent of the shareholders (also guarantors' on the line of credit)notified the lender that they were no longer standing behind their personal guarantee. This caused the lender to immediately invoke their insecurity clause and cease all distributions from the line of credit; specifically due to the other shareholders' lack of fiscal ability to satisfy the debt. After lengthy discussions/negotiations between the shareholders, in which the lender's attorney acted as mediator (crazy, I know), an agreement was reached whereby the fiscally prominent shareholders would divest their interest in the corporation in return for a $50k certificate of deposit as collateral against the existing debt. The lender, still worried about their precarious position of possibly sustaining a loss, approached the remaining shareholders with the demand that the line of credit loan be refinanced into an SBA backed loan. The lender was very clear that their main desire was to deflect all risk away from themselves. In the application for SBA approval, the lender intentionally omitted the fact that the loan was simply a refinance of existing debt. In fact, the lender expressly stated in the application that the proceeds were, in large part, to purchase equipment ($109k) and the remaining proceeds were for operating expenses ($20.5k). This obviously could not be further from the truth. The bank acted in their own self-interest insomuch as they intentionally misled the SBA in an attempt to avoid risk. My question is: What, if any, are the ramifications a lender faces in the event of such a wilful misrepresentation? (I am only recently aware of this misrepresentation; The misrepresentations are on instruments the bank submitted without signature requirements from the shareholders/officers) http://www.sba.gov/community/discussion-boards/question-regarding-veracity-lenders-statements-sba-application#comments http://www.sba.gov/crss/node/806831 Loans & Grants Mon, 17 Mar 2014 17:33:55 +0000 veedub63 806831 at http://www.sba.gov I am starting an online fashion apparel boutique and I have too many questions about credit and where do I start? http://www.sba.gov/community/discussion-boards/discuss-popular-topics/loans-grants/i-am-starting-online-fashion-apparel-boutique-and-i-have-too-many-questions-about-credit-and-where-do-i-start I am starting my own online website and I need to know what type of license I need and I already have my EIN #, is there anything else I need or is that the # I use to apply for credit? I am on disability but I receive both SSI and SSDI and I don't have the best credit at all. Can I get a loan or grant based on my poor credit either using my business ein or my social security? Thanks, Kristalee http://www.sba.gov/community/discussion-boards/discuss-popular-topics/loans-grants/i-am-starting-online-fashion-apparel-boutique-and-i-have-too-many-questions-about-credit-and-where-do-i-start#comments http://www.sba.gov/crss/node/549921 Loans & Grants Sun, 24 Mar 2013 22:12:15 +0000 KristaleeAnn 549921 at http://www.sba.gov Keith Gilabert, "How to Obtain a Business Loan" http://www.sba.gov/community/discussion-boards/keith-gilabert-how-obtain-business-loan First you need to create a business profile with Duns and Bradstreet and give them a minimum of 4 business references, this will create a credibility report with an estimated line of credit which all lenders require. Banks will also review your ability to pay which is commonly known as the “5 Cs” to determine if your business is credit worthy: Capacity: Do you have adequate working capital to cover your short-term obligations? Typically they want to see 6 months of working capital, which includes rent and payroll. Character: Will you pay your obligations? This is where business credibility and business credit has a large impact on loan approval. Your past business references are key for this. Collateral: What assets or guarantees can you provide to collateralize the debt? Try not to use your home or automobile as collateral, use business equipment or even better receivables. Capital: How much additional equity or financial risk will you have in the company once it is financed? Typically a bank wants to see 30% investment from the business owner. Conditions: What are the loan proceeds to be used for? Usually a bank will loan money in order to make more money. You cannot ask for a loan to stay in business, it needs to be for a project to finish with a higher appraised value. If you have any questions, please post below. Thanks, Keith Gilabert http://www.sba.gov/community/discussion-boards/keith-gilabert-how-obtain-business-loan#comments http://www.sba.gov/crss/node/819441 Loans & Grants Fri, 11 Apr 2014 15:09:23 +0000 keithgilabert 819441 at http://www.sba.gov Financing http://www.sba.gov/community/discussion-boards/financing-8 To whom can help, What are some first time approaches to researching and finding financing and avenues of. Any info about finding this would be appreciated. Thanks, Bill http://www.sba.gov/community/discussion-boards/financing-8#comments http://www.sba.gov/crss/node/753939 Loans & Grants Mon, 23 Sep 2013 15:05:53 +0000 William1476 753939 at http://www.sba.gov When Do you start paying back a loan http://www.sba.gov/community/discussion-boards/when-do-you-start-paying-back-loan Hi, I have looked over this site and done a general search about SBA loans but have not found an answer to one of my questions. When do you start paying back on the loan? Like a mortgage, does it start the next month after funding or do you have a period to get your business opened? Is it something that is figured out in the general set up of the loan through the lender? Thanks for any help. http://www.sba.gov/community/discussion-boards/when-do-you-start-paying-back-loan#comments http://www.sba.gov/crss/node/811191 Loans & Grants Thu, 27 Mar 2014 18:14:59 +0000 AstroBrian 811191 at http://www.sba.gov How to Start a Tour Business http://www.sba.gov/community/discussion-boards/how-start-tour-business I am starting a Tour Company, an need to talk to others about that kind of business. http://www.sba.gov/community/discussion-boards/how-start-tour-business#comments http://www.sba.gov/crss/node/815451 Loans & Grants Sun, 06 Apr 2014 13:32:51 +0000 EichbaumC 815451 at http://www.sba.gov Green energy concerved Livery Service http://www.sba.gov/community/discussion-boards/green-energy-concerved-livery-service I am looking to see if my goal meets the criteria to be eligible for a grant to start a business. http://www.sba.gov/community/discussion-boards/green-energy-concerved-livery-service#comments http://www.sba.gov/crss/node/815501 Loans & Grants Mon, 07 Apr 2014 00:57:25 +0000 GALLOWAY4 815501 at http://www.sba.gov Is this grant Legit- Leadership Grants Organization for Small Business http://www.sba.gov/community/discussion-boards/discuss-popular-topics/loans-grants/grant-legit-leadership-grants-organization-small-business <p><strong>Leadership Grants Organization</strong> <em>leadershipgrants.com</em><br />USA: 55 Madison Avenue, 4th Floor, Morristown, NJ 07960 - Tel: +1.973.285.3370</p> <p>I filled out their application are they legit?</p> <p>---<br /><small><em>This post was edited to remove a commercial link. Read our <a rel='nofollow' href='http://community2.business.gov/t5/Welcome-to-Your-Community/Community-Best-Practices/m-p/13855' target='_blank'>discussion policies</a> for more Community best practices.</em></small></p> http://www.sba.gov/community/discussion-boards/discuss-popular-topics/loans-grants/grant-legit-leadership-grants-organization-small-business#comments http://www.sba.gov/crss/node/84021 Loans & Grants Mon, 08 Nov 2010 12:01:26 +0000 ddavid 84021 at http://www.sba.gov SBA Loans/Grants for real estate investment http://www.sba.gov/community/discussion-boards/sba-loansgrants-real-estate-investment Hi, I'm trying to get some information or folks experience in trying to get a loan from the SBU to start a property management company. Basically, I want to get a capital loan from the SBA, combine with some savings I have and purchase a number of multifamily housing units in order to generate monthly income, incur expenses and hopefully become very profitable. Does anyone have any information, links, advice or experiences on this type of business and loan qualifications/application process? Thanks in advance. http://www.sba.gov/community/discussion-boards/sba-loansgrants-real-estate-investment#comments http://www.sba.gov/crss/node/615691 Loans & Grants Wed, 08 May 2013 19:27:51 +0000 Steveeb99 615691 at http://www.sba.gov FUNDING http://www.sba.gov/community/discussion-boards/funding-3 Hello I am a new business owner in Altadena and need some assistance on how to find the proper funding. I want to give back to the community and abroad to help those who find themselves in a tight and compromising situations because of their past. Drugs alcohol relationship or whatever the cause...I form a mentorship and renew their minds to do and be better regardless of the issues at hand. http://www.sba.gov/community/discussion-boards/funding-3#comments http://www.sba.gov/crss/node/814731 Loans & Grants Fri, 04 Apr 2014 06:41:50 +0000 iamrenewed 814731 at http://www.sba.gov