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  • Long over due!

    Havent been on here in a while but i'm glad to be back.

    So i'm finally going to do it. I'm going mobile. My decision is made and i'm committed! lol. I'll be going with a trailer.

    i need some of your expertise tho!

    i need financing for my trailer only.And even tho i want to try and get a 5 year or so term (for lower monthly payments) my goal is to have it paid off mid 2011. Credit is good, average debt, everything always paid on time. (i am NOT currently employed. Husband is bread winner. i have a cosigner available if need be, but would prefer not to go that route)

    Looking at all the options, it looks as tho regular business loans through traditional banks is out. 2 years in business, minimum. "in-house" financing through the trailer company, but only 2 or 3 of these companies offer this. I am very interested in the GT trailers. But where to get the financing? Not sure how SBA loans work? Personal loan? Ideas please?

    I have called a company that works with trailer financing. They require that i register my business name before i even apply. is this the norm?

    And speaking of which! A name!!!!!!! How do u decide!!!??? heres some of my issues:

    don't like the idea of putting MY name in the business name.

    we may have to move in a few years due to my husbands job, so adding local area in the name is out. (even tho ive come up with a great name that is my favorite so far) ideas for this predicament?

    any ideas or advice or comments or etc. lol. thanks guys! missed u all!

  • #2
    SBA Loans

    You can go on the SBA website and they will give you guidelines of everything you need to apply for an SBA loan.

    What I learned through the business school I went to is you need a business plan with 3-4 years worth of financial projections for a start-up business.

    You will need to fill out the required paperwork found on the SBA website to bring to the bank which is a personal financial statement and a personal history.

    The SBA website should have a list of participating SBA lenders in your area. According to what I was told in business school you should qualify for an SBA loan even if you don't have any collateral or a co-signer but have had some information from banks to the contrary.

    I was told by the business counselors that they sba requires a 25% investment by you in your own business before considering you for loan.

    This is also information you can find on their website. You can find examples of business plans at your local library. They have a whole section of books that have just this information.

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    • #3
      If you have a good relationship with your local banker that is a good place to start. Even better if the bank is small and not part of a huge banking empire.

      SBA loans have a lot of paperwork, and for the small sum that a trailer alone would cost, most lenders wouldn't process the paperwork. Now if you bought a fully equipped trailer from Wagn'Tails, that kind of money is more feasible to a bank.

      The broker who is telling you to register your business name is doing you a favor. In most places if you do business in any name other than your own, you must register that "fictitious name" with the state. Here's an example using my registration To separate your personal assets from your business assets, it would be wise to form an LLC (limited liability company) and do all of your business dealings with that name instead of your personal name. You will have to PERSONALLY guarantee most loans as a startup business, the SBA insists on it.

      I would recommend finding the location of your nearest small business development center. The people there were most helpful to us.

      Good luck!
      "With God's help, all things are possible!"
      Laura Lee Ray
      I am kats_melody on eGroomer. Follow my Twitter tweets - @ZOOMGROOM on Twitter.com

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      • #4
        thanks

        and names, WOW, i found the A-Z list HERE on Petgroomer.com. GEZZZ LOUISE, they have alot of names to look at. SO excited cause i think i found a variation i like too! heres the link to avoid heavy searches...

        http://www.petgroomer.com/doingbusinessas.htm

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        • #5
          I was thinking of names again yesterday

          One was Miles for Styles, and the other Going The X-tra Mile. With mobile grooming added at he end for both. On The Road Again, Mobile Grooming.

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          • #6
            nice

            thanks. those names are very cute!

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