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I'm looking for possible financing for a business. Any advice in this tough economy?

I'm 40 years old and work as an oilfield diver in the Gulf of Mexico. I've been looking for quite some time for a business that I can get into so I don't have to spend half my life offshore. I've found a couple of potential businesses but feel financing could be a problem....although I do have pretty good credit and a little cash. I just thought I would post and see if others in the same situatiion may have any advice.

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Answers (6)
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Hello!

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May 31, 2017
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americaloan company
loan offer

Do you need a Personal/Business loan without stress and quick approval today?americaloancompanny@gmail.com

May 16, 2017
Amanda Davis
Capital Partners
San Diego County, CA

We advance 80% to 90% on your invoices. The cost for invoice factoring can range from 1% to 4%. Many of our oil and gas clients, including oil and gas service providers and oil and gas haulers, use our invoice financing or receivable factoring services to increase their cash flow for daily expenses, especially since they are out in the a majority of the time. This allows them to eliminate the need to follow up on their invoices. Essentially, Capital Partners becomes your back-end office, helping you stay organized and on top of your invoices.

Let Capital Partners be your oil and gas factoring company, and get a head start on growing your business today! Our factoring oil and gas receivables services are second to none, and we put our years of oil and gas industry factoring experience to work for you!

If you'd like to know more please give me a call at 760 494 6463 I will be in the office fro 9am to 6pm EST.

Amanda Davis

Apr 5, 2012
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Gateway Franchising
Saint Louis County, MO

Chris - financing can really be rather difficult in this economy. If you're looking for an independent business and don't have a history of business management it can be especially difficult. If you're looking at pursuing a franchise (e.g. AAMCO), many of them offer in-house financing options and are SBA Fast-Track approved.

You may want to start by speaking with a few of your local banks and credit unions. Feel free to contact me if you have any questions.

Mar 21, 2012
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The BAF Group LLC
MD

I would NEVER use a 401k! The SBA is the best route.

Feb 14, 2012
Kevin Blank
........................................
PA
Premium Broker

If you have a 401k, you can possibly use that without penalties or paying taxes.

Your other options are to borrow money by refinancing your home or taking out a home equity loan but you better make sure the business is right and making enough for you to cover the loans plus provide a living wage. I don't recommend using your house but sometimes it is the only way.

Borrow from friends or family if you can. Let them be partners with a buyout plan.

Find an investor that will partner with you but have a buyout plan.

Feb 14, 2012

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