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Looking for and investor to invest for 7 months at 20%
Posted by: shannon jones on 7/2/2008 7:45:44 PM
Funding Needed:
$250k - $500k
Category:
Retail / Distribution
Website :
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Location :
russellville, Alabama, USA
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Description:
Hello, I need help opening my new business. I have worked very hard at trying to achieve this goal and have hit a wall as far as that goes. I have obtained some credit lines for some of the products we will have, however it isn't enough to open the business with. Our Business Description is A retail party supply and costume and equipment rental store. We will sell to the public basically everything you could need for any type of party or function, from napkins and plates to balloons and party favors. We will also offer a party planning service for those who either lack time or lack imagination and need some one to plan or host a party for them. We will rent out mascot and cartoon character costumes either for a customer to use and bring back or they can rent our staff to host the party in these costumes. We have teamed up with two local restaurants for catering and each of these establishments have party rooms in their buildings if our client is in need of a place to have a function. Our equipment will range from chairs and tables to tents, columns and candle holders for weddings,and dunking booths, moon walks, bean bag tosses and etc., for festivals. We obtained a relationship with a local business man who wanted us to lease a building from him to start a business. After he gave us the 1st loan and we remodeled the building he said we would have to buy the building and he was going to give us a second loan to consolidate the first one and start our business. Due to his health problems he backed out of our agreement and now we are in danger of losing the building that we put all our money into for the remodeling, so now we are stuck with a building,for a short period of time remaining, a loan that came due June 21st, 2008, amount due is $83,000.00 and we need to get the business open to make money,Our total financial needs are 360,000.00,(83,000.00)will pay back the original loan and that will leave us with 277,000.00 (72,000.00) to pay a three year lease of our building and (151,000.00) will be to purchase the rest of our inventory, we will have 54,000.00 left for working capital. We would only need the financing for 7 months as I have set it up with a long term investor and they will fund me within 7 months however I need the funding now to get money coming in and to pay back the 1st loan I had, that is past due now. I also don't want my business credit in anymore jeopardy. I am also losing potential income every day my store goes unopened. Please help me in this gap of my life. I want to thank you in advance for your consideration in help in this matter. Shannon Jones
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