If you had a small business you've been running out of your home, but it's grown and you want to open a store front, what route would you go loan or assistance wise? I know nothing about small business loans etc.
OT: Question for business/finance folks
- Thread starter The Cooterpoot
- Start date
How much are you needing to get started? If you can say, what type of business is it?
Shouldn’t need much. Find an empty lot and offer to rent it. The landlord might ask that you put a few thousand down in advance.
If you want to buy it, I would do it through a separate LLC than the car business. One LLC will pay the other each month.
If you want to buy it, I would do it through a separate LLC than the car business. One LLC will pay the other each month.
What type of business? Where are you looking? Also, how much space do you need?
It's a glass business located in S. MS. Not mine but it's blown up to where he's looking for a place and to hire a person or two. I helped get him started but I'm out of the investor business right now after some health related expenses a couple years ago.
Don't go getting a loan on a bootstrapped business. Bringing on extra liabilities is too risky if you don't have the cash flow to rent a facility/lease equipment. Moving out of the garage into a rented space is no reason to get a loan. If you can't afford that without a loan, you're not ready.
Loans are for when you have cash flow rolling and you want to buy property instead of rent, own equipment vs lease, or buyout a competitor or something.
For this scenario, if you cannot afford to lease/rent to take the next step, the business is not ready for the next step.
Loans are for when you have cash flow rolling and you want to buy property instead of rent, own equipment vs lease, or buyout a competitor or something.
For this scenario, if you cannot afford to lease/rent to take the next step, the business is not ready for the next step.
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