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Boozer
09-08-2003, 05:18 PM
Any of you know anything about them?
I really need to get the wheels turning on starting this business and the only thing holding it up is the financial end. I was looking to hit the Feds up for some grants but considering that I'm white and actually work for a living the likeliness of me getting any type of grant money from the feds is slim to none not to mention I don't feel like waiting around forever to get the thing.
Any info you have would be greatly appreciated.
Thanks in Advance.

jlnorthrup122
09-08-2003, 06:39 PM
what type of business you planin on startin?

OutCole'd
09-08-2003, 06:46 PM
Check with who you do your banking with currently. There is usually a SBA person with each bank. They are the ones that could help you.
Good Luck

jlnorthrup122
09-08-2003, 06:52 PM
I would say if the business is something he knows well and already has some of the basic tools required to get started I would start the process without a loan and just reinvest his profits to the next job/product untill he can do it full time and quit his day job and not have the huge sba loans and interest. you know! I feel that a guy who can avoid all the loan dealios (witch I have not) could have more than interest paid to show for where his money goes You know!

VillainDave
09-08-2003, 06:54 PM
Boozer you can still get a gov grant but it is easier if you're not a U.S citizen :D . But away call the Colorado Small business association and they will send you a packet letting you know what's available!

totenhosen
09-08-2003, 07:40 PM
I'm in commercial banking as an underwriter and the SBA Underwriting Dept. works right next to me. Send me an IM for more specific info.

rvrkaosI
09-08-2003, 10:21 PM
Taking a small business class, its a bitch to get a SBA loan. You almost have to have the callateral to qualify, as the government knows, small businesses are shakey, therefore, they want a arm and a leg to qualify.
Good luck....

Hotcrusader76
09-08-2003, 10:53 PM
Depending on what it is you're starting, I wouldn't bother getting an SBA loan. Everybody's right in the fact they want an arm and a leg. Applying for an SBA loan is very time consuming and tedious.
It's best to start out of pocket if possible or through friends/family investments. Then once you start to make an upward trend the banks will be a little more willing to loan you small amounts as needed.
Good luck on your new venture.
~Ty

fat rat
09-09-2003, 03:04 AM
I looked at it some years ago......more time and paper work than it's worth! my .02 Have things changed any?

Boozer
09-09-2003, 06:51 AM
The Business is going to be a comedy club. I have everything I need to get the thing going "except" the finances for it. If I had the up front cash to get this going I would have it going already but start up costs will probably be around 200k give or take about 50k.
The business is going to be rock solid. Friends of mine own a comedy club now and a lot of their cliental travels from the region that I intend to start the new business so I already have the customer base and the comedians.
I may try to have my friends take out an SBA under their existing club name since it is a well established business but that is something I'd really rather not do. There's gotta be a way to get the financing for this beyotch.