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XP - Small Business Grants and Loans - Options Available?

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  • Ned Barnett
    As a favor to a client, I m working with an individual who is working on an SBA Express Grant program grant (I ll be writing the grant application and
    Message 1 of 2 , Oct 21, 2009
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      As a favor to a client, I'm working with an individual who is working on an
      SBA Express Grant program grant (I'll be writing the grant application and
      mini-business plan)



      The program has financial caps that are lower than this individual's
      financial needs, so I'm looking for ideas as to other small business loans
      and grants that this individual might qualify for.



      A few facts:



      . He is a minority small business owner with good credit.



      . He has a landscape business that has a fast-track for some
      municipal contracts in his area of Florida.



      . He needs the loan to purchase the equipment (trucks, etc.) needed
      to fulfill these contracts



      Needs to be done before the end of 2009 to maintain his fast-track status
      for these contracts.



      Any suggestions or ideas on programs I can tap into? I'd be glad to look at
      Federal/State programs, Foundation programs (this is both a minority-owned
      business and, as a landscaper, this probably qualifies as a "green"
      business, as he'll be planting trees and shrubs and other living things).



      Suggestions? Ideas?


      Ned



      Ned Barnett, APR

      Marketing/PR Fellow, American Hospital Association



      Barnett Marketing Communications

      420 N. Nellis Blvd. A3-276

      Las Vegas NV 89110



      702-696-1200 - ned@...

      http://www.barnettmarcom.com





      [Non-text portions of this message have been removed]
    • Sam Waltz
      Ned, re: your query on Options to Small Business Grants / Loans. I usually rank Investment Capital sources this way. a) Entrepreneur s, e.g., savings,
      Message 2 of 2 , Oct 21, 2009
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        Ned, re: your query on Options to Small Business Grants / Loans.



        I usually rank Investment Capital sources this way.

        a) Entrepreneur's, e.g., savings, credit cards, personally-guaranteed
        loans;

        b) F&F, Friends & Family;

        c) Investment Capital



        No one gives away money, except maybe the Gov'mint. And it's not giving
        away its own money, but rather it's giving away taxpayers' money that it
        forcibly extracts.



        Pardon that, but, moving to problem-solving your query then.



        You referenced purchases to "fulfill contracts," which suggests that he has
        secure commitments for work which will bring in revenue.



        Banks may lend him money on Contracts, although they'll likely want a UCC
        statement / agreement.



        Certainly, though, a group of lenders called "Factors" make their livings
        lending on ARs, including this kind of thing. Their interest and fees run a
        bit higher than banks, but it's lower than loan sharks. And they don't
        break your legs. Basically, the borrower "sells" them the contract, the AR
        (Account Receivable), typically for about 80% of its face value, and then,
        when your client's customers pay her / him, that check goes directly to the
        factor, who rebates to your client any of the unused "hold back."



        Frankly, it's a good system that has its roots in the old NY garment
        industry. A garment-maker would receive order, and he'd need to be lots of
        material, and other things, so he'd in effect sell the AR on which the order
        was based to a factor who gave him the payment up front which allowed him to
        finance his COGS (cost of goods sold).



        So, indeed, if your statement is accurate, that he has orders in hand as he
        claims, then he ought to be able to find a factor who could help him finance
        his COGS.



        Sam

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        From: SmallShopNetwork@yahoogroups.com
        [mailto:SmallShopNetwork@yahoogroups.com] On Behalf Of Ned Barnett
        Sent: Wednesday, October 21, 2009 10:06 PM
        To: PRMindshare@yahoogroups.com; prbytes@yahoogroups.com;
        prquorum@yahoogroups.com; SmallShopNetwork@yahoogroups.com
        Subject: [SmallShopNetwork] XP - Small Business Grants and Loans - Options
        Available?





        As a favor to a client, I'm working with an individual who is working on an
        SBA Express Grant program grant (I'll be writing the grant application and
        mini-business plan)

        The program has financial caps that are lower than this individual's
        financial needs, so I'm looking for ideas as to other small business loans
        and grants that this individual might qualify for.

        A few facts:

        . He is a minority small business owner with good credit.

        . He has a landscape business that has a fast-track for some
        municipal contracts in his area of Florida.

        . He needs the loan to purchase the equipment (trucks, etc.) needed
        to fulfill these contracts

        Needs to be done before the end of 2009 to maintain his fast-track status
        for these contracts.

        Any suggestions or ideas on programs I can tap into? I'd be glad to look at
        Federal/State programs, Foundation programs (this is both a minority-owned
        business and, as a landscaper, this probably qualifies as a "green"
        business, as he'll be planting trees and shrubs and other living things).

        Suggestions? Ideas?

        Ned

        Ned Barnett, APR

        Marketing/PR Fellow, American Hospital Association

        Barnett Marketing Communications

        420 N. Nellis Blvd. A3-276

        Las Vegas NV 89110

        702-696-1200 - ned@... <mailto:ned%40barnettmarcom.com>

        http://www.barnettmarcom.com

        [Non-text portions of this message have been removed]





        [Non-text portions of this message have been removed]
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