The idea that non recourse loans, the way you describe it, loans that you get without having yourself personally liable is not the way it works. You should assume you will guarantee the loan regardless of the structure of your business. The good news, though, for businesses like you are describing, Internet Business, is that the Capital Requirements for that type of business is generally small. You are able to get yourself further along and share in revenues with a smaller amount of credit need. That is where we see a lot of businesses and personal service or Internet Business get started, and generate revenues and be able to show Growth Without needing any capital, like a brick and mortar business might. My name is terry said. I have a Retail Business in San Francisco for 22 years. I have a 5 04 504 loan. It took me three years to get. We need more capital. I tried to get a line of credit from wells capital. I was decline. Where does someone like myself go . I have a loan, i need addi
Having yourself personally liable is not the way it works. You should assume you will guarantee the loan regardless of the structure of your business. The good news, though, for businesses like you are describing, Internet Business, is that the Capital Requirements for that type of business is generally small. You are able to get yourself further along and share in revenues with a smaller amount of credit need. That is where we see a lot of businesses and personal service or Internet Business get started, and generate revenues and be able to show Growth Without needing any capital, like a brick and mortar business might. My name is terry said. I have a Retail Business in San Francisco for 22 years. I have a 5 04 504 loan. It took me three years to get. We need more capital. I tried to get a line of credit from wells capital. I was decline. Where does someone like myself go . I have a loan, i need additional funding. Did you try through the sba . I already have an sba loan. I went to we
Over time, allow you to pay it down. We have brochures back there. I encourage you to talk to us. Let me add on that. Over the last several years, a lot of Small Businesses have relied on their personal credit as a means to support the business. Also, they relied on home equity lines of credit, which in many cases do not exist anymore, also as a source for financing their business. As far as doing public contracting, one thing about public contract in that you can count on is the city of San Francisco will stay in business and pay its debt, just later than you would like it to be. When youre doing public contract thing, if you will, cash cycle when you do the work and when you get paid is something you have to factor into your understanding of capital needs. So you have to figure that into the process. Usually, that is figured into the pricing. But it is also the case that would you also probably need is a line of credit. Depending on whether you feel your credit situation is where you
An Opportunity Fund will look at your story in addition to your score. Some are limited to your score, that if it is above or below a certain threshold, and they are may not work with you. Not every one of the lenders is going to see your situation the same, so you should be shopping. [inaudible] you can do contract financing. That exists. But a line of credit is probably what youre looking for. Thank you, marc. I have a question from the audience about a burgeoning market. Any avenues for San Francisco medical cannabis dispensaries . Open to the panel. In terms of financing . I can tell you what will be the licensing and zoning regulations, but i think i would turn it over to our financial institutions, in terms of in terms of the type of business that you would consider financing. We look at all kinds of business. We always want to see a business plan. We want to see the cash flow. Just like the lady before, you can have a good plan, but if you do not have cash good credit is always
Open to the panel. In terms of financing . I can tell you what will be the licensing and zoning regulations, but i think i would turn it over to our financial institutions, in terms of in terms of the type of business that you would consider financing. We look at all kinds of business. We always want to see a business plan. We want to see the cash flow. Just like the lady before, you can have a good plan, but if you do not have cash good credit is always important. People sometimes have no cash or they may have a cosigner or partner that could help. Opportunity fund is a 51 say 501 c nonprofit and we can make the bay area a better place especially for low and moderateincome communities. Some of our funding sources, like the sba, certain kinds of businesses we cannot lend to. Adult entertainment, primarily, alcohol sales, and then there are some things that we decided we are not going to lend to. We choose not to lend for fire arms sales. Medical cannabis, to be honest, as the ceo of a