Funding for Startup
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  1. #1

    Funding for Startup

    Hi, We are looking for $100K funding for a startup. LOC preferred but Working Capital OK. The company was incorporated about 8 months ago and started its sales activity this month. They expect 25+ sales this month and about 40+ next month, each between $5K and $20K. The owner's FICO is very strong and he has extensive experience in the space. Thanks, A

  2. #2
    Senior Member Reputation points: 217974
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    Very strong FICO? This is DEFINITELY a business credit card deal. Send me an email, I'll make you the introduction.

    Down the line, you can do factoring and "normal" lines of credit, but as a startup with no revenue, business CCs are the way to go.

  3. #3
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    Do what Micah said. It’s probably your only option.

  4. #4
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    Agreed!

  5. #5
    Senior Member Reputation points: 34509 Jstarr's Avatar
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    SBA 10-15 day turnaround
    Jerry Starr
    Insource Funding
    433 Plaza Real,
    Boca Raton, Fl 33432
    P: 800-805-3391 Fx: 561-270-6895
    insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

    ◆ 50% LTV - No Fico Required
    ◆ 90% CLTV on Purchases
    ◆ Investment Residential / Commercial Properties



  6. #6
    Thank you, JStar, They would do this under the Express program?

  7. #7
    Quote Originally Posted by abfunders View Post
    Very strong FICO? This is DEFINITELY a business credit card deal. Send me an email, I'll make you the introduction.

    Down the line, you can do factoring and "normal" lines of credit, but as a startup with no revenue, business CCs are the way to go.
    Thank you, Micah.

  8. #8
    Quote Originally Posted by Jstarr View Post
    SBA 10-15 day turnaround
    Hi, Jerry, Can you recommend an SBA lender that offers this, please? Ours don't. Thank you, Anna

  9. #9
    Senior Member Reputation points: 67918 Olderguy's Avatar
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    SBA has a microloan program for start ups directly on the SBA website.

    Max is $50,000.

    https://www.sba.gov/funding-programs/loans/microloans
    Last edited by Olderguy; 07-22-2022 at 04:01 PM.
    Steve Benjamin
    Professional Business Loans

    1012 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
    @ Term loans from 3 years to 10 years at 9.5% and up
    @ Equipment financing up to 7 years
    @ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
    @ SBA loans - 7A and 504.
    @ Private money equity and debt for major investments
    @ Personal Loans up to gross income from personal tax return.

  10. #10
    Quote Originally Posted by Olderguy View Post
    SBA has a microloan program for start ups directly on the SBA website.

    Max is $50,000.

    https://www.sba.gov/funding-programs/loans/microloans
    Thank you, Steve. A

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