Starting a manufacturing business from scratch
by email@example.com, Window Shopper
- Created: September 17, 2013, 1:59 am
I am a service-connected disabled veteran. I was discharged earlier this year, and right away I went to vocational training to learn to make bicycle frames. I finished the training and now I would like to start my own framebuilding business, but I have recently been exposed to some confusing information that contradicts what I assumed was true. In order to qualify for a loan, I have to already have a business plan, which I understand, but I need to also be able to show my product line. However, If I do not already own the machinery and facility I need to produce the product, how can I possibly have product to show? I assumed I could take out a loan to buy this machinery. What comes first, the chicken or the egg? I have a workshop in the garage of the house I rent. I just need about $15,000 worth of machinery, from a TIG welder to frame jig to vertical mill and fixtures. Other than these expensive items, I can probably use my savings and credit cards to obtain what I need. I have always assumed there would be a horde of patriotic institutions waiting in line for me when I got out of the Army to get me set up to go into business for myself and produce American products and succeed. Now that I'm out I'm finding that I have to already be rich or have generous rich family members in order to qualify for any kind of financing to start my business. I am seriously dumbfounded. The british have a word for this: gobsmacked! I probably do not need a penny from anybody after the initial equipment purchases, so I have no intention of begging for grants ever. I just need a vertical mill, welder, jig and fixtures so I can get to work. Isn't that what the SBA is for?
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