Comments on: Any tips on how to finance startup cost for small business with no money down but excellent credit? http://www.mentorschools.biz/start-business/small-business-startup/any-tips-on-how-to-finance-startup-cost-for-small-business-with-no-money-down-but-excellent-credit New Product Launch | Marketing a Product | Guarantee Your "New Product Launch" Success Tue, 31 Jan 2012 21:01:45 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: simone@manifestsuccessguru.com http://www.mentorschools.biz/start-business/small-business-startup/any-tips-on-how-to-finance-startup-cost-for-small-business-with-no-money-down-but-excellent-credit/comment-page-1#comment-2402 simone@manifestsuccessguru.com Tue, 30 Jun 2009 13:34:59 +0000 http://www.mentorschools.biz/small-business-startup/any-tips-on-how-to-finance-startup-cost-for-small-business-with-no-money-down-but-excellent-credit#comment-2402 This is a free capital society ---- you are able to raise capital from private investors. "Friends and families" or someone that would really get how lucrative this could be. You don't need banks at this stage. SHORT SUMMARY---Put the numbers together, a short biz plan, talk to people about having them invest in you and offer your own interest terms using a promissory note or offer stock in your new company. You'll need the help of someone that has done it or a legal professional but it is VERY common...I've raised a million plus. Or get people to invest with their services for a piece of the pie. Any local auto dealers would be interested in your deal? Also, consider doing something smaller to start and scale it up so people will have confidence in investing.<br><b>References : </b><br> This is a free capital society —- you are able to raise capital from private investors. "Friends and families" or someone that would really get how lucrative this could be. You don't need banks at this stage. SHORT SUMMARY—Put the numbers together, a short biz plan, talk to people about having them invest in you and offer your own interest terms using a promissory note or offer stock in your new company. You'll need the help of someone that has done it or a legal professional but it is VERY common…I've raised a million plus. Or get people to invest with their services for a piece of the pie. Any local auto dealers would be interested in your deal? Also, consider doing something smaller to start and scale it up so people will have confidence in investing.
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]]> By: rlloydevans http://www.mentorschools.biz/start-business/small-business-startup/any-tips-on-how-to-finance-startup-cost-for-small-business-with-no-money-down-but-excellent-credit/comment-page-1#comment-2401 rlloydevans Tue, 30 Jun 2009 13:28:59 +0000 http://www.mentorschools.biz/small-business-startup/any-tips-on-how-to-finance-startup-cost-for-small-business-with-no-money-down-but-excellent-credit#comment-2401 If you need $25,000 or less you might try www.prosper.com. ANything more and I'm not sure.<br><b>References : </b><br> If you need $25,000 or less you might try http://www.prosper.com. ANything more and I'm not sure.
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]]> By: tlbs101 http://www.mentorschools.biz/start-business/small-business-startup/any-tips-on-how-to-finance-startup-cost-for-small-business-with-no-money-down-but-excellent-credit/comment-page-1#comment-2400 tlbs101 Tue, 30 Jun 2009 12:52:59 +0000 http://www.mentorschools.biz/small-business-startup/any-tips-on-how-to-finance-startup-cost-for-small-business-with-no-money-down-but-excellent-credit#comment-2400 When we bought a nail salon we were stupid to use a credit card at 9.9%. The interest rate went up, the business only lasted for 3 years, and we ended up paying increasing interest rates for about 3 years after the shop closed. Don't do that. Take out a home-equity line of credit (i.e. 2nd mortgage). The interest rate is much less (than typical credit-card rates), will be fixed for the long term, and is tax-deductible. .<br><b>References : </b><br> When we bought a nail salon we were stupid to use a credit card at 9.9%. The interest rate went up, the business only lasted for 3 years, and we ended up paying increasing interest rates for about 3 years after the shop closed.

Don't do that.

Take out a home-equity line of credit (i.e. 2nd mortgage). The interest rate is much less (than typical credit-card rates), will be fixed for the long term, and is tax-deductible.

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