Getting Scary Now

Ok, this is the scary part of starting a business, having to ask for money. I am at that point now. It is very exciting, that this is where I am at. But the other day I had a meeting at the SBA about going to the bank to ask for a loan and it was kind of a "Come to Jesus" about how hard it can be to get a loan and that the banks will ask for everything, including your first born. Now normally that wouldn't scare me, but I'm not exactly financially well off. My credit score is better than what it was (I was laid off 3 years ago and got by on credit cards and spent the time after that recovering) I also bought a house right before the worst recession in history (hence the lay off) in one of the hardest hit areas in the country. So its not like there is a lot of money there. Other than personal debt that still outweighs my net worth, all I have is a good idea and a promise to pay it off.

Oh and if you are asking about grants, there aren't any, I checked. And the fact that I am a woman owned business doesn't really help that much either.

Oh well, time to lay my financial self on the table and see what happens. Personally, I am proud of my finances, they show that I actually have come a long way and if I were a bank, I would give me money.

Getting Excited!

So here we go. While at Wal-Mart today, on impulse my husband suggested I get that fancy new printer I have been needing/wanting for my business. So we got it. I do need a printer after all. OK, office equipment aside, things are moving along on the business front. I have some vendors in place and a pretty good draft of my business plan going along with some other fun money type spreadsheets for bankers to look at so they can give me money to start this thing.

Now my only really question is. What came first? The chicken or the egg? Should I get my business license and incorporate first or get the loan first? I think I should incorporate first so the bank knows I'm serious. Plus, they aren't going to give me a loan, they are going to give my company a loan. So I'm going to have to have a company they can give a loan to. Then we are off! Well, we pretty much better be off once I get incorporated. But once I get the loan, I can get my website up, get a phone line, and get inventory and start advertising.

But you know what's really funny, what I am looking forward to most at the moment? Buying funky pretty office supplies. Not boring ones, but pink ones and sparkly ones. You know why? Because I'm the boss! Yes, I will be the boss! Like Mark Zuckerburg has on his business cards, "I'm CEO...Bitch!" Yea, OK, that is the exciting part. I will be the boss, I will be the only one I have to answer to and yea, I'm CEO Bitch!.

OK, enough of the power trip. But it is very exciting none the less.