Acquring unsecured finance for start-up

[Guy. E]

DJ_m,

Sorry if this sounds rude mate - but again, if I had a 'cure of cancer', I wouldn't be posting on here

At the moment, I am doing commision based work that earns me enough for the time being - but I need to jump on the boat quick to get in early enough before other providers do.

$20k in telstra shares, must be doing well. If you're wanting to know a little more on what we're trying to do - send me a PM

Cheers,
Guy

[DJ_m]

Originally Posted by GuyE

DJ_m,

Sorry if this sounds rude mate - but again, if I had a 'cure of cancer', I wouldn't be posting on here

At the moment, I am doing commision based work that earns me enough for the time being - but I need to jump on the boat quick to get in early enough before other providers do.

$20k in telstra shares, must be doing well. If you're wanting to know a little more on what we're trying to do - send me a PM

Cheers,
Guy

Sorry, I was being overly sarcastic. I'm just not sure about the recommendations to talk to banks and VCs are going to help you much.

A bank won't lend you without collateral and I don't know a VC firm that looks at anything much under $100k.

For $20k you really do need to earn it or look to friends and family if the former is not possible. If you had a unique invention or something then you could offer up a private share issue in your business.

Good luck.

DJ_m

[PrimerGroup]

For a start up you can ask only about 20K to maximum 50K without security. Funding is done in rounds, your 1st round has to be 20K, if you want 250K that has to be the 2nd round after you are bringing in sales and making profit. You cannot ask for more than 100K without track record. Banks want real estate security or commercial security, so basically it is buildings they want!

[Guy. E]

Hi guys,

After speaking with many banks - you're all right.

However, because the business has only been in operation since November of '09 and has no 'track record' of sales yet (as i've been busy trying to establish everything else), banks are looking at me and shaking their heads and pointing down the road.

At the moment, $250k is the total figure I will be needing, so I would only be looking at between $20k-$30k to get the ball rolling to start making the sales to show what the product is capable of bringing in.

Cheers,
Guy

[PrimerGroup]

Now you are on the right path.

I would be happy to have a look at your business but our rounds for this year don't start until August. We take in businesses every year during these rounds.

Also make sure you have a good business plan along with all the documents needed.

These are the documents required:

Business Overview
▪ SWOT Analysis
▪ Marketing Plan
o Market Analysis
o Competitors Analysis.
o Pricing Policy.
o Promotions Strategy.
▪ Sales Forecast.
▪ Establishment Costs Forecast.
▪ Financial Analysis – cash flow and income projection

Any bank or financial group would request these