Home Forums Starting your journey Financing advice for New Pet Boarding business? Reply To: Financing advice for New Pet Boarding business?

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Paul – FS Concierge
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Hi And Welcome to Flying Solo [USER=99849]@nc098[/USER]. It is great to have you!

Thank you for joining our community and posting today.

Finance is so often tough for Soloers. The old saying is that finance comes from Family, Friends, or Fools.

I think you are on the wrong track with using your savings to repay your existing loan. From what [USER=34822]@Johny[/USER] has said, the structure of your pitch would have a better chance if you could present it maintaining your existing employment for the purpose of the loan – even if you were later to quit your job assuming the business did well.

I wonder also, if their is a way of designing the facilities in stages so to reduce your initial ask eg, Stage 1 could facilitate 1/3 of your projected kennels and cost $50K to complete.

A very helpful staffer at my bank advised me to apply for a home improvement/renovation loan instead of a business loan – this helped her bank say yes – I am sure I would have been declined otherwise.

I hope you find a solution that works for you.

Cheers