Government grants

[Bitter Jeweler]

I have enough equipment to do small shoots but I'm not fully comfortable using what I have....unless I'm outside, lol.

Don't give this bit to the loan officer...:er:

What do you need a loan for?

 

[wannabephotog]

Should I be considering other financial options?

The only real option to obtain financing for a business is your own savings or borrowing from friends and family. You will most likely not qualify for a bank or SBA loan. I have extensive experience with this subject matter.

To qualify for a small business loan you need to come to the table with 30% of the required funding already on hand (cash), plus experience in the industry (management experience), plus strong collateral plus excellent credit score/history. Even for a micro loan the requirements are basically the same.

One other option is prosper.com. Peer to peer funding. But even that is not as easy as it looks.

Bootstrap funding is about the most realistic approach.

 

[mishele]

The Gov. is going to make you jump through hoops to get money. The process is also very long. I wasn't looking for a grant but a small biz loan. It took 2 weeks just to get someone to talk to me. He also told me that I shouldn't expect any kinda answer from them for 6-8 months from the point I got all my paperwork in. That still didn't mean that I was getting any help. I was better off doing directly through a bank w/ a higher interest rate.

I can't even imagine what they would have you do for FREE money.

If you do it......let us know how it all works out.......=)