I am in the routine of starting the tiny ubiquitous trades/drywall association which caters to vast building the whole government companies in the northeast. Over the past 6 months we have built realationships with these companies as well as have successfully been awarded work by these firms for the sum of $5+ million. But there is the complaint – money.
I am told by most banks ” …to get money, we need to already have it.”. So, how do I get possibly the line of credit or the loan of the little sorts?
I have met with banks, in isolation investors, as well as factoring companies. They have reviewed the commercial operation plan, reserve of work (costs & profit), as well as investment to date. The usual reply has been “this is the no brainer”, though no bites!
HELP!
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Try SBC, they will give you loan when banks don’t give. You may have to put a business plan together and convince them that you have a valid reason to borrow.
Other option is to borrow money from http://www.prosper.com.