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Getting a Loan/Use Credit Cardstalk - Small Business Finance
| Getting a Loan/Use Credit Cards My father started a business in 1984 by using one credit card and working out of the home. My parents had no credit so they couldn't get a big loan right away, plus they just bought a new home. Their business eventually got too big to run out of a single office and a garage and they eventually had to buy a building after renting a small office unit. That just shows you that even a couple thousand dollars can start anything up and running. |
#1ontario, canada [the EH land] | Wow that's really inspiring. I always assume that it would take A LOT of money to start a business and especially for one to become big. So it's nice to hear stories about people starting a successful business on only a couple thousand dollars :) |
| Great story. It just goes to show that you can be successful without taking out a huge loan from the bank. I hope that one day I can do the same. |
| Yes, I have heard different success stories of people that started small but became successful over time. I think that some people want success to happen over night so they don't want to work at being successful. I think it's a good idea to start a business with less start up loan money then you don't have to worry about paying back so much money. |
#4in the middle of nowhere | Depending on the type of business you start it doesn't take that much. I have a seen a lot of people start out too big instead of taking their time and gradually increasing. I do agree that people expect it to happen overnight. Those of the same people whose business will fail within a year or two. |
| Thanks for sharing this. It is good to hear about more success stories similiar to this. While I was getting my business up and running I started out putting money aside from my paycheck. I just didn't see the point in starting out with a ton of debt. |
| IKO Roofing was started by two brothers in their garage. They made shingles by hand. They took the business to the greatest of heights. Now they have big rig trucks travelling across the country supplying builders, roofers and building companies with their shingles. The reason I know all this is cause I was once one of their sales people. |
| I really feel that if you have a lot of ambition and the right attitude towards work and a great idea to start with that you can be successful in starting up any company without having to put out a fortune. I know of several people who started out catering companies in their own kitchens and others who have started out making basket gifts for all occasions in their own dining rooms and lving rooms and none of it cost a fortune to start with. A lot of times if you are making a product and there is a flea market near where you live you can rent a kiosk for not a lot of money and put the product on display and that way you can see how it is accepted by the public without renting a store space or whatever. It's all a matter of how much work and time you want to put into being a success not about how much money you have to put into it. |
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