Business Loans?
My husband and I have been discussing the possibility of opening up a ranch/resort here in Colorado. We basically have two options – look into existing properties for sale, or start from the ground up with a place of our own. Are there differences in the types of grants/loans that we’d be able to qualify for, based on existing vs. new property?
This would be a totally new venture for us. Neither of us have ever had a business, nor attempted to take out a business loan, so we’re a little lost in the dark here.
Anyone out there who’s gone through the process care to offer some advice, insight? Any info on loans, grants, etc. would be greatly appreciated. Thanks!
Go to http://www.grants.gov for a list of government grants and how you can apply for them. However, there are no grants for a for profit business unless you are opening a daycare and then it is a minimal amount. If you need money, you will need to apply for a loan. No lender will talk to you unless you provide them with a valid business plan. Go to http://www.sba.gov , http://www.score.org or http://www.bplan.com for sample business plans and instructions on how to write a business plan.
Then, go to http://www.score.org/ and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor to review your business plan and discuss various loan options available to you.
SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).
SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.
