Savage Beatings Posted March 11, 2007 Share Posted March 11, 2007 So if I come up with a sure-fire hit of an idea for a small business, put together a killer business plan, etc., as an individual, is my only funding option pretty much to put my house up as collateral for a small business loan? Any other creative ways to come up with enough capital to start things off without risking a home? Quote Link to comment Share on other sites More sharing options...
wiegie Posted March 11, 2007 Share Posted March 11, 2007 Contact the Small Business Administration office near you to see what they say. Quote Link to comment Share on other sites More sharing options...
Savage Beatings Posted March 11, 2007 Author Share Posted March 11, 2007 Contact the Small Business Administration office near you to see what they say. Can't you do it for me? Quote Link to comment Share on other sites More sharing options...
ts Posted March 11, 2007 Share Posted March 11, 2007 My experience has been that the SBA only offers funding to those that no longer need it to get started ... only to expand after you have become a bit of a going concern. Still, may be worth a phone call. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted March 11, 2007 Share Posted March 11, 2007 Can't you do it for me? You shouldn't take that money - it's just welfare by another name and Republicans wouldn't take state handouts. Quote Link to comment Share on other sites More sharing options...
muck Posted March 11, 2007 Share Posted March 11, 2007 Sell a portion of your business to a private investor. Quote Link to comment Share on other sites More sharing options...
Savage Beatings Posted March 11, 2007 Author Share Posted March 11, 2007 You shouldn't take that money - it's just welfare by another name and Republicans wouldn't take state handouts. Good thing I'm no longer a Republican. It's been over a year now. Quote Link to comment Share on other sites More sharing options...
Savage Beatings Posted March 11, 2007 Author Share Posted March 11, 2007 Sell a portion of your business to a private investor. Yep, I think rounding up investors is going to have to be the way to go. Thanks guys. Quote Link to comment Share on other sites More sharing options...
spain Posted March 11, 2007 Share Posted March 11, 2007 Whats your idea for the business? Quote Link to comment Share on other sites More sharing options...
nuke'em ttg Posted March 11, 2007 Share Posted March 11, 2007 Whats your idea for the business? .........Damn .......i was just gonna type........ Spain.......... Quote Link to comment Share on other sites More sharing options...
Apathy Posted March 11, 2007 Share Posted March 11, 2007 So if I come up with a sure-fire hit of an idea for a small business, put together a killer business plan, etc., as an individual, is my only funding option pretty much to put my house up as collateral for a small business loan? Any other creative ways to come up with enough capital to start things off without risking a home? Shoot a PM to keg and solicit his opinions since he has some recent experience with small business capital raising issues, including SBA. Quote Link to comment Share on other sites More sharing options...
wiegie Posted March 11, 2007 Share Posted March 11, 2007 what's your business idea--if it is any good we can fund you and if it is stupid, we can mock you either way, it's good for all of us Quote Link to comment Share on other sites More sharing options...
Savage Beatings Posted March 11, 2007 Author Share Posted March 11, 2007 what's your business idea--if it is any good we can fund you and if it is stupid, we can mock you either way, it's good for all of us I'd rather not say... not for fear of being ridiculed... that will happen anyway... but I don't want to allow anyone to get the jump on me (at least not here in the Twin Cities). Besides 'm not trying to solicit investors here, I'm just kind of thinking out loud more than anything else. Well, not really out loud (since I am writing my thoughts instead of speaking them) but you get the gist. Quote Link to comment Share on other sites More sharing options...
Hitman Posted March 11, 2007 Share Posted March 11, 2007 "New and improved" cover-sheets for TPS reports? Quote Link to comment Share on other sites More sharing options...
keggerz Posted March 12, 2007 Share Posted March 12, 2007 Shoot a PM to keg and solicit his opinions since he has some recent experience with small business capital raising issues, including SBA. you know how to find me when you want to talk. Quote Link to comment Share on other sites More sharing options...
keggerz Posted March 12, 2007 Share Posted March 12, 2007 also fwiw the AMOUNT needed will open and close some doors Quote Link to comment Share on other sites More sharing options...
spain Posted March 12, 2007 Share Posted March 12, 2007 you know how to find me when you want to talk. A public restroom on I-95? Quote Link to comment Share on other sites More sharing options...
keggerz Posted March 12, 2007 Share Posted March 12, 2007 A public restroom on I-95? I'll be the one with the D cell batteries Quote Link to comment Share on other sites More sharing options...
skins Posted March 12, 2007 Share Posted March 12, 2007 If yer idea is manpons, I already own that idea. Quote Link to comment Share on other sites More sharing options...
evil_gop_liars Posted March 12, 2007 Share Posted March 12, 2007 My bank put it to me this way. "If your not willing to risk something then we sure in the hell aren't." Made sense to me. Quote Link to comment Share on other sites More sharing options...
Savage Beatings Posted March 12, 2007 Author Share Posted March 12, 2007 My bank put it to me this way. "If your not willing to risk something then we sure in the hell aren't." Made sense to me. I kind of figured that was the reality of it... but just thought I'd see if anyone else found another way. Since there's pretty much no way that I will ever convince my wife to risk our house, I guess I will have to start knocking on some doors and seek out investors. Or maybe I'll just scrap the whole thing. Quote Link to comment Share on other sites More sharing options...
wiegie Posted March 12, 2007 Share Posted March 12, 2007 Just for the record, let me point out that this is an example of a market failure.** **Actually, I should say that this is a likely example since perhaps Savage's idea is stupid and he really doesn't deserve funding. Quote Link to comment Share on other sites More sharing options...
Puddy Posted March 12, 2007 Share Posted March 12, 2007 One of the local radio stations has a show called "StartupNation". I've linked to the area of the stations website that has "10 Practical Steps" to starting your own business. One of the topics is funding. It may be helpful. I listen to the show from time to time and it is pretty interesting. Link Quote Link to comment Share on other sites More sharing options...
Puddy Posted March 12, 2007 Share Posted March 12, 2007 The guys who own startup nation (the Sloan brothers), came to one of my MBA classes to talk. Very smart and energetic people. They put us through an exercise that pretty much gives you 60 seconds to sell your idea to investors. The idea being that you have an investors attention during an elevator ride which may average 60 seconds. Forces you to be concise in your presentation. Quote Link to comment Share on other sites More sharing options...
twiley Posted March 12, 2007 Share Posted March 12, 2007 My bank put it to me this way. "If your not willing to risk something then we sure in the hell aren't." Yeah, that pretty much sums it up. Quote Link to comment Share on other sites More sharing options...
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