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Need help with start up capital for new business!

I am a beginner entrepeneur trying to start up a business with my business partner. The capital we are trying to raise is $20,000. This money will go to buying equipment and inventory expenses.

I began looking for a personal loan since I was also going to use this money to pay for my LLC, business licence, tax ID etc. I have a 733 credit score however my current fulltime job is a tipped position where I have not claimed all tips throughout the year. As a result my salary looks absolutely terrible on paper. Personal loans can't be more than 25% of your salary so thats out.

Now I've decided to purchase my LLC and get the ball rolling on getting the business started so I can try and get a small business loan instead. However I have found that many places wont give you a small business loan without being in business for quite sometime and already having a revenue stream. well I wouldnt need the loan if i had my business up and running with a steady revenue stream! haha

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Answers (2)
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YMCA a
CFO
Monmouth County, NJ

If still interested email on business information at spersaud5@aol.com

Dec 23, 2013
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I was searching this site looking to purchase more businesses, I recommend two companies www. Lendio.com and www.execbusinesssolutions.com 404-696-4110

Nov 27, 2013

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