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Home: Video University Forums: Marketing & Business:
Financing Business

 

 


X-Robin
Imported Account

Feb 6, 2003, 4:38 PM

Post #1 of 2 (504 views)
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Financing Business Can't Post

I am a 22 year old female in Louisville KY. I have been in business since 1998. I have never received a loan for my business and have around $35000.00 in equipment. I am now seeing the benefits that my business could have with some money backing it. The problem is I have built my business on credit cards. I have quite a few, which all have been paid well, but are near limit. I have been looking at the SBA application and it talks about having good credit. I have good credit, except my credit score is low from have no available credit. Right now I am at the point that I have a great idea and with a little financial backing, I could make quite a bit of money. What can I do to get the small amount of money and would I be accepted for a small business loan. Thanks for your help.


X-Peggy
Imported Account

Feb 13, 2003, 3:50 PM

Post #2 of 2 (503 views)
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Re: Financing Business Can't Post

First of all, what do you need the loan for? How will you pay it
back if you are already maxxed out with credit card debt? It sounds
like you have quite a bit of equipment already. We all want the newer
and better and more exciting technology as it comes out, but maybe you
could make enough money to pay off your debt with what you have.
Options other than a loan - rent equipment or hire assistant
videographers with their own equipment.
Did the SBA turn you down? SBA loans are generally the easiest to get,
especially if you are female or a minority. If that's the case,
maybe you should rethink your debt situation.