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Wish me luck


Rusty

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Well today is the day im going to go talk to the bank about getting an SBA Loan to startup my Asphalt Sealcoating Business so I know how well prayer works in this group so instead of praying everyone just wish me luck and maybe it will work just the same :) .

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Well bank didnt seem overly willing or overly denying so if they cant personally accept the loan then they'll see if sba will approve so im still praying that i can get it.

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*slips out of the darkness*

First of all, good luck. Second of all, a little advice.

If the gods are willing in 11/04 Dallas will have a new Martini Bar, myself and some friends its propriaters. Capitol is a very big deal in starting a buisness, and the most important river to cross. We decided to forgo an sba, and instead go with government loans and grants. There is of course some catches to this route. First off, to get the loans you still have to already have some capitol. 10% to be exact. So as we speak im spending every weekend shmoosing investors for every penny I can, and so far its going well. The advantage to borrowing from the government is that you get a very low interest rate that in our case wont even kick in for the first 10 years, and additionally your ceiling is much higher then a private bank can offer, depending upon your feild. Grants are absolutly wonderful (you dont have to give the money back!!!) but they are a VERY VERY VERY big pain to obtain. Were actually having more luck finding private investors then we are with grants. (stimulate the economy my arse.)

My final word of advice is this, and any buisness man will agree. Do not go ahead and begin production until you have enough capitol to run for an entire year without making a penny. There are no sure things in buisness, but at least this way you will be able to get through the trials and tribulations of the first year without the creditors or partners driving you insane.

One question though, what kind of buisness is it. General partnership, LLC, LLP, ect... Some buisness forms have it much easier when it comes to raising capitol. Either way, once again good luck.

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Rusty... best of luck to you in getting your business going! Trison.. I saw that Dallas there! Where at in Dallas are you looking? I used to live there many yeas ago... well in the surround areas anyway.

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