About Professional Planning Associates Expertise Questions relating to business plan preparation, contents, approach and how to prepare plans that provide investors with the information required to make an investment decision
Experience Professional Planning has been operating since 1993. Its principal has over 30 years of business experience. The Company's financial expert has earned a Doctorate in Accounting
Organizations Gold Coast Venture Capital Club, Coral Ridge Kiwanis
Publications Investor's Business Daily, Vfinance.com, the Black Entrepreneurs Association, Webentrepreneurs.com andIslamiQMoney.cpm
Education/Credentials B.A. from Hofstra University
Expert: Professional Planning Associates Date: 3/6/2004 Subject: Business startup
Question Hello my name is John Walker. I hope all is well with you. I would like to get some advice if possible. I have never been in business and would like to try my hands in one. I have been in the IT field for 15 years in corporate America. I would like to start a Limo busuiness. I was laid off two years ago for about one year and it totally destroyed by credit. I am working on rebuilding my credit rating and as you well know it takes a while to do that. I am just wondering is there a creative way to create financing for startup of a business. I think this business will be a good one for the area that I live in which is Atlanta Georgia. Other than a business plan are there people who will help in the financing of this business? And where do I start? Thanks for your time.
Answer John:
You have presented a very difficult set of facts. With limited capital and credit options are limited, however there is hope. Your difficulties are compounded by your lack of experience in the limo business. I am assuming you need financing in the $50-100 thousand range. It is possible that vendors in the business such as limo dealers may be a source of financing. The SBA has a micro-lending program, check the SBA web site. There is another site poorrobert.com that may be helpful.
There is the old fashioned way, networking. Attend Chamber of Commerce and similar organization's meetings to interact with the Atlanta business community. Any source will require at least an overview of your proposed business and if interested a business plan.
