ideas on funding a new retail business

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ideas on funding a new retail business
dragndime avatar
dragndime
+1y
any of you guys start your own business, or know someone that has? im stuck on getting any financial help. anyone have any ideas?
95s10onair avatar
95s10onair
+1y
I would look to family/close friends for loans. That way, you don't have to pay interest on the loans. If that doesn't work, go to a bank. Be prepared with a very good business plan because they will ask for it. They want to know how you plan to pay the money back and the better the plan is, the more secure they feel about giving you money. Good luck.
dragndime avatar
dragndime
+1y
i have a very detailed, and secure business plan, but im finding it hard for banks to give me the time of day. i dont know if its because im young or what.
no1lowr avatar
no1lowr
+1y
depends on what you are trying to do, the sba wont help fund a business if its not going to better the area its in, as well as themselves, i you have to look at it from there shoes, why would i give you money to und a business that potentiallly may not make my money, plus interest back, i guess it depoends on what you are trying ot do, i started my biz for about 10k and most of it was buy ins and shit. good luck.
KEG Media avatar
KEG Media
+1y
yea its not easy and takes a decent investment outa pocket to start up.
TEEBAGGINNN avatar
TEEBAGGINNN
+1y
How much of a loan do you need to start?
dragndime avatar
dragndime
+1y
ive saved up right at 10k, and im looking at getting 50k.
TEEBAGGINNN avatar
TEEBAGGINNN
+1y
I'd say sell your truck but you already did that.