I am seeking funding for a start up Business and was offered for a small ,000.00 fee a loan/line of equity credit. I would like to decline in a sort of smart A** way but respectful way at the same time and I’m sort of stuck as to how to do that? Can someone HELP because I am not willing to pay for Funding at all My original request was for Angel funding or Venture capital funding and of course I was offered the above and for the above mentioned fee. I DON’T THINK SO. ~ Anyway any help would be appreciated. Thanks.
The only thing you really should have to pay for in funding is the interest fee and a small application fee. Anything else is gouging.
Well, there are proper ways to be a smarta** and say it in such a way that folks have to review 2 or 3 times what you said to them and then figure out you were actually being a smarta**. There are 2 books I usually rely on:
1. Verbal Judo by George J. Thompson
2. The Gentle Art of Verbal Self-Defense by Suzette Haden Elgin
Maybe you can write something like:
Thank you for the opportunity to take a loan with your company. In this day and age of modern businesses assuming that a woman’s financial intellect is inferior, it is refreshing to know that your company doesn’t abide by those financial misconceptions.
While it is probably in my best interest to consider your loan, I will continue to search for one that fits my financial needs closer to where my budget lies which does not include a fee, which I personally feel is unnecessary to the financial structure of any loan with reasonable terms.
Once again, thank you for the opportunity and good luck to your future business.
Sincerely,
(Your Name)
I wouldn’t include a phone number unless you feel comfortable with getting a return call and can continue to insult them without them knowing it by your tone or your words. It takes practice but, honey, it’s well worth it when you can put it back at them and leave them shaking their heads.
OK, YOU HAVE BEEN OFFERED A LINE OF CREDIT FOR YOUR BUSINESS IN THE AMOUNT OF $4000.00. CAN YOU NOT USE THIS AS A PORTION OF THE START UP FUNDS AND CONTACT SMALL BUSINESS ADMINISTRATION OR YOUR BANK, MENTION YOU HAVE BEEN OFFERED THIS LINE OF CREDIT. IF YOU STILL WANT TO DENY THIS LINE OF CREDIT SIMPLY DO SO. I DON’T BELIEVE THEY MEANT TO INSULT YOU.
Professionals do not put a lot of time into these things so if that is how you want to come off then make it either very short, or very generic.
IE. I want to thank you for taking the time to respond to my request. I was very impressed with the proposal I received, however at this time I do not feel our companies are suited for one another. Please feel free to check back with me at some future date.
I am interested to know what type of business your looking to fund and how much your asking for. I might be able to assist.