by alijo, Window Shopper
- Created: August 20, 2013, 5:39 pm
- Updated: March 23, 2015, 9:13 am
Hello. I intend to open a business in Kansas which I estimate necessary startup capital of $150,000 to pay for renovations to a warehouse, payroll, and other general improvements and essential infrastructure. I currently have an income of approximately $36,000 per year, cash. Approximately $20,000 in liquid assets (savings). When I return to Kansas, I will be earning less, approximately $28,800 per year. I intend to have a detailed business plan to outline the potential of my endeavor, however, I cannot forsee this being enough to merit an unsecured $150,000 line of credit for a business with no sales. My question is, *can* a business plan be sufficient to secure such a loan? Or, is venture capital my only method for obtaining such a sum? Thank you for your input, ~ali.
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