I am in the process of starting a small general trades/drywall company that caters to large construction management companies in the northeast. Over the past six months we have built realationships with these companies and have successfully been awarded work by these firms for a total of + million. But there is a problem – money.
I am told by many banks " …to get money, you need to already have it.". So, how do I get either a line of credit or a loan of some sorts?
I have met with banks, private investors, and factoring companies. They have reviewed the business plan, backlog of work (costs & profit), and investment to date. The common reply has been "this is a no brainer", but no bites!
HELP!
Try SBC, they will give you loan when banks don’t give. You may have to put a business plan together and convince them that you have a valid reason to borrow.
Other option is to borrow money from http://www.prosper.com.