Good afternoon everyone, ( I am now to the point of joining every Small Business forum to hopefully find that one missing piece of the puzzle) I am new and hopefully this forum can help me. I feel I am ready to start my business, but every time I go to the bank they, say they are not borrowing at this time. (Little back round) I am trying to build a 6000sq. ft. Salon,(from the ground up) I have been working on this for just over 2 years and here is what I got so far.
I have my LLC
I have the business name and logo which is trade marked
I have my tax ID
I have purchased the property and still paying on it (I have been paying for 2 yr)
I got it re-zoned business property, over a 1yr ago
I have drawings , that a builder did for me, and he gave me a price to build.
I have a 1/25 scale model built of the building.
I have had the land surveyed and have those drawings.
I have a 1inch thick business plan.
I have my own website page and domain name.
Credit scores are 803, 817, 821
But I can't get a loan, I am asking for $600,000 that is including the balance of the land loan (85,000) and the equipment as well (10,000) I am willing to put up, the business land it is going on, I have another piece of land (that is clear and free, I owe nothing on it 1/2 acre with lake access. Plus I have my home as well to put up, still owe on that but I have equity in it about 20,000 and I have a savings account with only $5,000 to put down, I know it's not alot of money, but remember, I have payed for everything mentioned above!!
Can some one help with Ideas, I am all ears!!!!
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