[nabentre] financial info

[Brad Dunsé]

The Small Business Administration does loans, but 
there are quite a few hoops to jump through from 
what I understand. I've not applied for one myself.

I will say unless things have changed, generally 
to secure a loan, unless your mom is going to be 
your partner and likely the primary loan holder, 
a financial institution of any kind will likely 
want to see "your own personal assets." The idea 
is your personal investment/sacrifice into the 
endeavor, not your ability to risk someone else's revenue.

You could check with the Foundation Center and do 
some research  to see if there are any 
foundations out there which help in such 
situations, but foundations deal mostly with NFP 
organizations rather than individuals or for 
profit endeavors, but  there are some out there from my understanding.

In either case, they will want to see a business 
plan showing the step by step process, goals, 
perhaps competition in the area, and etc.  so 
that is a great place to start. I believe there 
are resources on SBA's site on how to write one if you've not done so.

Also the Foundation Center, in conjunction with 
what use to be RFB&D. created an audio book on 
grant writing which has a lot of the same 
information as business plans, plus gives you 
insight in the tone and style how to write grant 
applications. It is a pretty hefty read though, downloadable in MP3 format.

I would suggest perhaps checking with BookShare 
and BARD to see if there are any books on 
creative financing for ideas. If the assets are 
low, which is the case with many of us these 
days; it may require a partner or limited 
liability partner, someone who has enough faith 
in your ability who is willing to be a capital 
venturist. Of course payment terms or percentage 
of profits would be worked out and such.

Pizza pizza :)

Brad

On 3/14/2012  01:13 AM gary lemberg said...

Hello everyone My name is gary Lemberg.  I live 
in Maywood NJ.  I am interested in opening a 
Little Caesars Franchise in my area.  My question 
is the initial amount that I need is about 
$200,000 .  I have to have a net worth of 
$150,000 excluding $50,000 in liquid. I was 
wondering if I could use my mom’s 401k for 
collateral for a business loan?  Does anybody 
know of any places that offer loans for business 
to people that are blind or visually impaired?  I 
hope that someone can help answer my questions. 
Sincerely Gary Lemberg 
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Brad Dunsé

"Either make a plan for your life, or settle for 
being part of another's." --American Proverb

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