Looking to take out a small business loan. Any knowledge helps

[Raven Jade]

Looking to take out a business loan, but obviously my employment makes that difficult. For context this is my full time job. I don?t work elsewhere. Hoping to open a food truck in a neighboring small town. Seeking advice from anyone who can help. Willing to trade services :)

[Stonesouth210]

Start an llc, then you can use that to take out a small business loan.

[ttmax]

Start an llc, then you can use that to take out a small business loan.

+1, don't forget to write a detailed business plan it's a must do!

[Jefferson Starfish]

I've done accounting professionally. I can help put together a business plan.

Holler...

Peace, Love, and #BHILF

JS

[Italia]

Have you checked with your bank? Also Tailor brand and zen websites can help with getting the llc for Texas it's $300. do you have ein? You can also get that online thru irs website but yes the bank will need business plan for loan but JS and the sites I named can help with that.

Good luck, we're on the same boat with that business plan out of the hobbying business

xoxo

[ttmax]

Have you checked with your bank? Also Tailor brand and zen websites can help with getting the llc for Texas it's $300. do you have ein? You can also get that online thru irs website but yes the bank will need business plan for loan but JS and the sites I named can help with that.

Good luck, we're on the same boat with that business plan out of the hobbying business

xoxo

Businesses plans can be a hassle...but take it from the top. Write and outline, write it honest. No big words. Make it simple. About $700 for a good one or you can really try on your own. I done many but do a outline first. Don't use big words, make it simple. Step by step, don't jump around, keep it organized and smooth flowing. Remember most banks will go Example 60% 40% if you want $1000 they Want 40% from you and they will do $600. No way around it. Work with your banker.

[JHunt32]

I have successfully started a small business that began off an app into a brick and mortar that is very successful and has been recognized by MySA & the Current..

The biggest piece of advice I’d give is… start with the SBA locally, the amount of resourcing and networking you can garner through them is a game changer. Then take the advice you receive and actually apply it. Don’t let the “x’s and o’s” or “dollars and cents/sense” deter you if it’s something you really are serious about doing.

[ck1942]

RJ,

Kudos for thinking ahead and beyond the hobby.

There are food trucks and then there FOOD TRUCKS!

And for the most part a mobile business allows the owner(s) to select or deselect locations as needs require.

I can count many mobile businesses, such as locksmiths, car detailers and mechanics, others not related to food or ice cream novelties, etc.

If, as I suspect, you have zero actual experience in operating a mobile business, may I suggest that you try to "understudy" or "intern" with a couple so you not only learn the ropes of the business, but also the rules of the road.

Might be that possibly you could work in a mobile food business for a few weeks off and on varying business hours, etc.

If you have buddies already in the business they might be willing or looking for partners or investors and that might be a way to enter the business.

Of course, no doubt some wit might even suggest a **mobile** umm, **massage** business.

OK, call me a wit.

Best of luck out there!

= = = = =

** upon a bit of reflection, there could be many many appropriate locations for a legit mobile massage services, such as busy work locations where workers need some de-stressing after work or during a 15 minute break, sporting events, fairs, etc. Think mobile coffee/pastry locations, for example. LMK if you want some consultation.

[Gipper]

Ditto what CK stated. Go be an understudy for a month or two and then reevaluate your plan. Get paid to learn the business on someone else's dime and not on the dime you owe the bank.

[spiffy_one]

First off... huge props to your for taking this step. Opening a business is not easy, but can be hugely rewarding.

Italia is 100% correct... talk to your bank about an SBA or even a personal loan. You'd be surprised at how easy it might be to qualify. Also, there are several non-profit organizations that give grants to women entrepreneurs: Amber Grant, GrantsforWomen.org, Eileen Fisher Women-Owned Business Grant.

Italia is also correct about the site ZenBusiness which can help walk you through the process and paperwork of a business plan, LLC setup, etc. I think some of their services are even free.

I completely agree with CK about finding a mentor with whom you could work as an "apprentice". The best way to learn any business is by doing, but it's much less scary when you can do it under the guidance of someone with more experience.

[Drtry1]

Congratulations on finding your entrepreneurial spirit! I have many years of business ownership, business coaching and investing in other small businesses. Please check your PM's.