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Capital

  • 08-05-2009 12:47pm
    #1
    islay
    Closed Accounts Posts: 48 ✭


    Hi,
    I am looking for a little advice I am just putting the finishing touches to my business plan. A model that works elsewhere in the world. (It is a retail model)
    I know the risks involved but am willing to take them. But I have a problem I have very little to invest. My first trip to the bank yeilded little help I was basically told they would be willing to loan me money but not until say 3 mths down the line but I need investment for start up costs? I need approx 15,000My sales forecasts and cashflows are based on the worst possible outcome and I still break even pay wages and can repay the bank. Is their any options I am missing? I know I am not elgible for grants etc as its retail but it does have a community aspect to it.

    Any comments gratefully received.

    Thanks


Comments

  • #2
    515
    Closed Accounts Posts: 150 ✭✭515


    Have you thought of finding an investor / partner?


  • #3
    patftrears
    Closed Accounts Posts: 174 ✭✭patftrears


    islay wrote: »
    Hi,
    I am looking for a little advice I am just putting the finishing touches to my business plan. A model that works elsewhere in the world. (It is a retail model)
    I know the risks involved but am willing to take them. But I have a problem I have very little to invest. My first trip to the bank yeilded little help I was basically told they would be willing to loan me money but not until say 3 mths down the line but I need investment for start up costs? I need approx 15,000My sales forecasts and cashflows are based on the worst possible outcome and I still break even pay wages and can repay the bank. Is their any options I am missing? I know I am not elgible for grants etc as its retail but it does have a community aspect to it.

    Any comments gratefully received.

    Thanks
    15k is either get it from friends family or get a second job to fund the venture via a personal loan.


  • #4
    newman10
    Registered Users, Registered Users 2 Posts: 975 ✭✭✭newman10


    What type of retail ?


  • #5
    byrne0f56789
    Closed Accounts Posts: 201 ✭✭byrne0f56789


    I think you are going to have to save and invest the money yourself. However, I would not believe the bank when they say that they will give you money after three months. They are not lending right now and they are especially not lending to new businesses. But after three months you won't need any money from the banks if your business is successful.


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