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| Subject:
Loan question
Category: Business and Money Asked by: shoaib-ga List Price: $2.00 |
Posted:
24 Feb 2003 09:15 PST
Expires: 26 Mar 2003 09:15 PST Question ID: 166413 |
If Entrepreneur has "exceptional business plan" but he has no history of that business then in this situation I want to know that can he qualify for 'venture capital loan' for his business? |
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| There is no answer at this time. |
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| Subject:
Re: Loan question
From: martinjay-ga on 24 Feb 2003 10:19 PST |
What is your question - 'What are his chances to get VC funding?' The answer is 'it depends' - the real judge of the quality of the business plan is in the eye of the person with the cash. Talk to a couple of VCs, find out what they think. If it is that good, and the Management Team is strong, even from another industry, then maybe it has a chance. These days VC is so hard to get that it doesn't usually matter. Good luck. |
| Subject:
Re: Loan question
From: martinjay-ga on 24 Feb 2003 18:28 PST |
Also, most Venture Capital firms do not give 'loans' without being an equity investor. VC funding is not like a loan where a bank will have credit scoring models and history with them, but an investment option where private investors, or representatives of private or other investors, buy an equity stake in a business. When approaching these people it is best to prepare well beforehand, they are very sophisticated. They are the best judges of business plans, because they have the money - my, your and everyone else's opinions of business plans is somewhat irrelevant. Good luck. |
| Subject:
Mark Victor Hansen and Jack Canfield did a little program called...
From: sergeantshultz-ga on 24 Feb 2003 20:48 PST |
The Aladdin Factor; How to Ask For and Get Whatever You Want in Every Area of Your Life. The program tells of a young man that had an idea for a business; he too needed investors in his idea to make it work. Know bank would touch it, venture capital firms weren't interested, so what was he to do? The young man started asking himself questions; he lived in New York City, where do the people that would have money be? Where would they live? How could he contact them? The young man figured most of them actually traveled the subway from the posh areas, so he started riding the subways. Then he would approach different individuals; his first question, "Are you a qualified investor?" If they weren't he would thank them and move on to the next person. The guy met enough people in three days, that thought his plan had enough merit to invest in it, to totally fund the start-up. As they tell it he went on to cteate a multi-million dollar company. Worth a shot. As usual... Sgt. Shultz knows.... Nuthing! |
| Subject:
Re: Loan question
From: martinjay-ga on 25 Feb 2003 18:16 PST |
Sarge, even pre-bubble that is hard to believe. Curious if that is true. See the movie Autofocus also, has great Colonel Hogan stuff in it! |
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