I'm wondering if anyone has any recommendations on getting a business loan for business expansion. I'm probably looking at needing $500k - $1M. Any insight / recommendations would be appreciated!

 

IndyMac!

 

^^ Good idea!!

 

a bank

 

I'll PM you

 

Visilli, there is a Venture Capital Breakfast meeting but I just can't remember the name of the group. YOu might google it for Seattle and see what you can find.

 

Residential construction?

js

 

Maybe Greta is talking about NWEN? I was there recently. Northwest Entrepreuer Network.

I'd also offer that the OP look into the long term plan financially. Specifically, liquidation clauses. Be very careful with VC's and Angels. They do give you money, but at the expense of dilluting your equity. Lawyers will work for free, just ask them. You want one that specializes in this stuff. I am sure a couple of the successful serial Entrepreneuers here can help you if you have some questions. Unfortunately, I'm more of a markets kind of guy.

 

biz expansion needs some security for backing. if you have assets to collateralize I can talk to you. no guarantees.

 

Not looking for construction finance, I'm looking to expand our showroom into stocking granite slab & more cabinetry etc. Remodeling will increase as new home construction decreases.

 

What type of assets are we talking about? Also, I'm not really interested in VC's, I was thinking more along the lines of a bank specializing in business financing.

 

CY: I'm not going to do (more of) a public forum on this. You know how to reach me by phone. If you want to look at finance arrangements we can talk on the phone. No VC wants to get into the cabinetry business or granite business at this point in the cycle so it's not anything you should worry about. If we can't help you no big deal. I have people who can if I can't. Most people wouldn't pay their price. Depends on how large you think the near term opportunity is. SY

 

Just sell a few cars maybe???
Seriously, any given bank will ask for as much collateral from you as possible. Things like real estates are the best tangible assets the bank likes to put liens on. Owning your own building and all the equipments that you are operating on are also a plus. Lots of cash flows and account receivables are also a plus..

 

Ruskie.... I Serbian. We are brotherz from the motherland. Let me ask old friend Mihalo for money, he help you in business. He ask in return a American woman. We make deal.. yes?

 

Thanks for all the info, SY I'll be in touch.