This is the response to a Bay Area businessman who is credit challenged. He has operated businesses for 48 years. He wants to retire but he cannot afford to. With tainted credit he has struck out with local banks. English is not his first language.
Since you have read my website posts I urge you to enroll at www.joetufo.com/powerfunding. A client who made the same comments that you did qualified for a $100,000 business line of credit AND a $150,000 grant. You won’t know unless you try.
You need to restore your credit. That can be done through the administrator of the Power Funding program or at www.themackfinancialgroup.com/tufo
Money to Solve Cash Flow Needs
America’s Recovery Capital (ARC) Loan Program Up To $35,000
by JPTUFO on JUNE 21, 2009[EDIT]
As of June 15, the SBA began accepting applications for the America’s Recovery Capital (ARC) loan program, which provides up to $35,000 for small businesses that are experiencing an immediate financial hardship due to the tough economic times. This loan program is designed to help keep these businesses afloat until they get back on track.
ARC loans are interest-free to the borrower and payment for these loans is deferred for 12 months, after which the borrower will have 5 years to pay back the loan principal. The funds provided by these loans are meant to be used to make payments of principal and interest on existing, qualifying small business debt, including mortgages, term and revolving lines of credit, capital leases, credit card obligations and notes payable to vendors, suppliers and utilities. Additional details on this program can be found at http://www.sba.gov/recovery/arcloanprogram/index.html
The SBA will provide a 100-percent guaranty for these loans and they have no SBA fees associated with them. To see if you qualify and to apply, contact your local SBA lender or call us.
For some time you have sent to me a lot of your e-mails, I am an entrepreneur that have work successfully on my own several business
for the last 48 years. You talk of financing, investor, partnership between others, but all those words are for people that usually don’t need
the financing or they have more than enough to back up their needs, but for the average guy there is no way to get financial help from any
institution, specially is you slow down in doing business preparing for a retirement, and worst yet, and very common in this present times,
if your credit is not strong, you are in a way financially dead incapacitated to continue to do business in the way you want it. I have couple
projects that are good but dead because of the financing.
The fact that you may have a very impressive business track record, to have for the last 40 years a successful in business, that financially you
are not struggling, that presently you have two good business with a value of proximately one quart of a million each, no liens, that you have
the capacity to create more business, that does not mean anything, you just became a number from one to ten and if you do not score
electronically, your project come to an stand steel. I agreed with you, “Now is the time to get started”. The question is were is the financing. Have you try
any banking institution?, financial groups, the government etc?. they all connected to the same COMPUTER. The answer is “We are sorry, contact the credit bureau”
I was going to retire, but I have decide to continue doing business for few more years, but that WALL is there and I do not believe that what you
offer is there. I my be wrong, I like to be proven otherwise. Who knows, you my be right. Do you have any ideas?. Perhaps you have the financing
and want to go partner with me.
One reply on “Possible Solution For Cash Strapped Business Owners With Tainted Credit”
There are Four Key Ingredients to Funding. I teach this on this blog site and in may of our ebooks and courses. Presentation is very important. If English is not your first language than you need to hire someone to assist you who is a wordsmith.