Funding

L

lee_s

Registered Member

Feb 17, 2009

98

3

• Apr 11, 2012

• #1

Hi,

I know this is kind of unrelated but I am just wondering if you fellow black hatters have any ideas.

I am trying to get a loan to start a Night Club in my area. I have a great business plan and experience in the industry but just nothing to guarantee a loan, which is why I keep getting turned down by the banks.

I am just wondering if anybody knows any way around this. There must be a way to get a start up loan. By the way I am based in the UK.

Thanks

 

ljt3759

Regular Member

Nov 18, 2009

228

100

• Apr 11, 2012

• #2

I'm afraid your going to have to try other sources of finance, I personally would suggest taking on a business partner with finance (possibly a sleeping partner if you want to make all the decisions) otherwise you could try borrowing money from family or put it all on your credit card.

So you have no assets worth much?

 

clyde

Elite Member

Dec 5, 2009

1,990

1,136

• Apr 11, 2012

• #3

Partner, seed investors, friends/relatives or just personal loans (credit cards etc).

 

L

lee_s

Registered Member

Feb 17, 2009

98

3

• Apr 11, 2012
• Thread Starter Thread Starter

• #4

The house I live in is rented and the assets I have are worth no were near as much as I need the loan for.

 

favorshows

Regular Member

Jul 17, 2011

321

245

• Apr 11, 2012

• #5

If you have a solid plan and you think that you can present it in a good way I would suggest trying to find investors. You can try your luck at globalbx.

 

cocococo

Senior Member

Mar 1, 2012

1,005

454

• Apr 11, 2012

• #6

LOAN SHARK

 

zebrahat

Elite Member

Aug 6, 2008

2,514

3,037

• Apr 11, 2012

• #7

Find a 'high concept' you can connect to your project, and start a site that raises the money through 'cloud funding' or crowd funding (look it up). Maybe your club can be tied to a new kind of speed dating, or dance competition, or political cause ('some proceeds go to stop SOPA/ACTA/CISPA'). Or find a local celebrity you can somehow convince to help you promote your club. Others above are correct in suggesting you're more likely to get the funds through equity financing (angel investors, grants, flipping wholesale real estate, etc) than from getting a loan or other debt financing.

 

Tamra

Junior Member

Sep 24, 2009

119

97

• Apr 11, 2012

• #8

There a little known book called Guerrilla Financing that has great ideas for unconventional funding. It was published in the early '90s, but have great idea. It's available on Amazon. At one time, I had the ebook version of the book. If you're interested, I could see if I still have it.

 

H

hamptonpq

Newbie

May 7, 2010

33

3

• Apr 12, 2012

• #9

If you have experience in the nightclub industry then you should hopefully know some big spenders, or be able to get to some. If someone's got money, loves nightclubs, what better pitch for them than partial ownership in their own club. I guess a lot of depends on how much control and ownership you want to obtain. Loans from a bank are more debt but more control. Bringing in individual investors will result in less debt but they'll want in on the decision making processes most likely.