How to secure funding???

[gattim]

So, in another post I read that banks will need collateral, stocks, bonds, houses, etc. What percentage of the total loan will they need? I''m assuming not the full amount.

I''m currently working on my Masters, and my thesis is going to actually be the business plan for my dream drive thru shop (s). I want this to be more than just a way to graduate from school, I actually want this to be what I use when I go out and do this on my own.

So, what are the true, real life steps involved. I know the textbook version, but I also know life is not lived by the book.

I''m assuming, 1- find location. Do I need to secure a lease before I trademark my companies name? I would like to register the name now, but when I went through the application they required a business location. 2-present business plan to banks.

Here''s where I''m stuck. Do you guys actually go after banks? or investors? Or how do you find the funding to start up?? HELP!!

Thanks

 

[jdandtracy]

We thought about getting an SBA loan, but then my wife's parents offered to loan us all the money we needed. Try calling your Mom, or your Mother-in-Law. They are more into it than Fathers or Father-in-Laws.

This is actually how we are doing it, but try contacting a mortgage broker instead of a bank. They often have special programs that banks don't have.

If all else fails, try calling my Mother-in-Law...

Here is a blog of our start up efforts:

www.nemoscoffeeshop.blogspot.com

Good luck and take care,
JD Anderson

 

[AJPRATT]

The SBA has a lot of great info on their site. You can also check your local Small Business Development Center. There are a number of different programs, with different types of requirments.