Raising capital

Discussion in 'Starting a Business' started by Stephen78, Aug 11, 2014.

  1. Stephen78

    Stephen78
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    Hi , my name is Stephen and I've been in the machining industry for almost 20 years. I have existing customers that are very loyal to me. I am currently outsourcing the work to other machine shops but would like to buy machines of my own. My credit isn't the greatest and I have no friends or family with the capital. Any suggestions would be greatly appreciated.
     
  2. Joseph.Shivell

    Joseph.Shivell
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    Since your credit is not great, you may have to put some money aside until you can buy one or more machines. Once you have money saved, and can show a bank or finance company that you have the money and income to pay back a loan, they will be more amenable to giving you credit. Unfortunately, rebuilding credit is not as easy as getting it in the first place.
     
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  3. Stephen78

    Stephen78
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    I'm actually meeting someone for lunch that has a machine shop and is interested in a partnership . It may work out after all.
     
  4. MikePeterson

    MikePeterson
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    As your are saying that your credit is not greatest and you have no friends and family with the capital, find out the financing which is best for your business, build on leasing up on business equipment, to raise capital is important part of the business of the financial structure, for business startup you need to calculate the amount of income earned or invest.
     

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