Expert: Marina Lando - 8/17/2003

Question
I've been selling my handmade jewelry out of the antique/coffee shop that I currently work in.  Eventually I'd love to expand and open a funky kind of retro store, I have lots of ideas for it, but I don't have good credit, much money, or much merchandise at the moment.  Basically, I'm willing to take my time, but I have no clue where to get started to make it to my long term goal?  Could you help me out?

Answer
Dear Rhiannon:

To learn how to start business go to: http://www.blquest.biz/start_business.htm

You also can try to rebuild your credit by yourself. To read more about this subject go to: http://www.blquest.biz/serv04.htm and click on “Credit Education” link.

Where and how to get money?

1) You can apply for Microloan. The federal government introduced a special loan program called the “Microloan Program” which is designed to help applicants who cannot qualify for a traditional business loan because of poor, or lack of credit, and little, or no collateral. These loans range from $100 to $25,000 and can be used for the purchase of furniture, fixtures, machinery, equipment, inventory and working capital. (http://www.blquest.biz/microloan.htm)

2) You can take another approach. Find a partner with very good credit (680+) and open corporation together (http://www.blquest.biz/serv02.htm) In this case you will have a chance to apply for start-up loan up to $50,000 (http://www.blquest.biz/serv01.htm).

Marina Lando
Commercial Loan Broker, CFC
888-469-1505
www.blquest.biz