Small Business Startup Funding
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Terrance Said:
How can you start a business if you don't have enough collateral to get the loan approved?We Answered:
It appears that you have never been in business before, therefore, I would strongly recommend that you talk to a business counselor before you do anything especially spend money. You have to determine whether you'll start a web based business or one with a store front ands nail down all of the one time and ongoing costs. I'd call the local office of SCORE (go to the link below and input your zip code to find the chapter nearest you), the advice is FREE.The counselor at SCORE will most likely advise you to write a business plan which is very good advice because it will force you to dig out all of the start up details and the costs of starting your small business and force you to also understand all of the aspects of this business including the customers you'll concentrate on (your market) and how you'll go after them.
You'll need to register the business with your state controller's office and make sure that you check to see whether any city and county licenses are needed where you live. All of this will come out in a business plan.
Try linking to YCHANGE International and read some of the articles especially the ones about a business plan and getting a loan.
Ruben Said:
How do I use my 401k for startup funds, little taxes, and reinvesting?-unemployed?We Answered:
You might want to plan carefully. The amount taken out and not rolled over within 60 days is taxable. Some folks take some out in December and some out in January to spread the tax burden over two years. If you are not yet age 59 1/2 you may be subject to an additional 10% penalty.Your 60 (calendar) day count for the rollover started the day after you received the check from them.
Aaron Said:
Does Anyone Know Where Someone With Bad Credit Can Get A Small Buisness Loan Or Grant?We Answered:
Citifinancial may eat you alive with interest, but they are usually willing to give you money, especially if you have a business plan.Douglas Said:
I want to stay at home and work, help?!?We Answered:
I don't know where you live, but where I live, we have a community college that sponsors a special class that helps people like yourself get started in starting a small business, etc. Maybe you can look into colleges in your area to see if they have the same kind of thing there. Hope you get the help that you need and that you get to do this for you and your son...