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Old 11-25-2008, 01:50 PM   #1
BigKahuna
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Default $75,000 Help?

I'm going to keep this simple, please try and keep any answers simple....I need simplicity in my life...>THANKS!

The wife and I are looking to buy a business.
We would like to have $75K down.
We have the loan secured for the purchase price, and colatteral, but it uses most all of our resources!
If you were trying to raise $75K cash in a creative manner, how would you do it? We are in Rural Colorado, if that gives anyone any ideas.

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Old 11-25-2008, 01:56 PM   #2
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I wouldnt do it, but that is me.

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Old 11-25-2008, 02:07 PM   #3
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bake sale, prostitution, selling stuff on ebay...
you might also try asking for "donations" from people you've given homebrew to in the past.

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Old 11-25-2008, 02:13 PM   #4
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Wouldn't we all like to be able to raise an extra $75k.

Sorry no help here.

Craig

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Old 11-25-2008, 02:15 PM   #5
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Partner?

Not me... Wish I had it...

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Old 11-25-2008, 02:17 PM   #6
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Sell shares to friends and family in a private offering.

Make the buy in not too high but not too low $5k/minimum seems right. That means you need 12 people (see reason below for incongruous math). Be specific about how and when they will be cashed out, ie you'll pay a yearly dividend from profits of say 5% ($250/share) and buyback their shares after 5years, underwrite the $3,750/year as a business expense, and on top of that make sure you sock away at least enough every year to do the buyback. Make sure you keep at least 3-5 shares and re-invest your dividend in the business (ie you don't get paid the div). Most people will want you to have some skin in the game (other than the loan debt) and I don't know what was put up for collateral.

The above situation may have to be disclosed in your loan agreement.

If you sniff around the universities a lot of them now have "angel investor" programs that can help you set up a situation like that, or propose other alternatives.

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Old 11-25-2008, 02:19 PM   #7
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If l had ideas on how to raise $75k, I woud be doing it

Sorry, no help here other than look for a partner/investor

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Old 11-25-2008, 02:30 PM   #8
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Small Business?

Talk to your local Small Business Association. It means more debt but, they have a program that offers a revoving line of low interest credit, maximum $25K for working capital, with very relaxed terms.

Meant to stimulate small business growth.

I suggest this simply as an optional way to offset capital should you choose to sink the $75K into the business purchase.

It's exciting and frightening. It may flop but, you never know til you try right heck, you might be the next fortune 500 guy too. I wish you the best of luck.

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Old 11-25-2008, 02:44 PM   #9
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My biggest problem is not the ABILITY to raise the cash, it's that I'm having an issue with figuring out the smartest, lowest cost way to do while risking the least amount of my hard assets to do it.

SBA is an Option. Thanks.

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Old 11-25-2008, 02:51 PM   #10
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Quote:
Originally Posted by BigKahuna View Post
My biggest problem is not the ABILITY to raise the cash, it's that I'm having an issue with figuring out the smartest, lowest cost way to do while risking the least amount of my hard assets to do it.

SBA is an Option. Thanks.
It is pretty much a cash market right now with the current economic downturn. What is your time-frame?
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