Las Vegas, NV (PRWEB) September 16, 2012
According to a U.S. Bank study published in an article in Entrepreneur, 79% of failed small businesses cited too little start-up capital as a primary reason their business collapsed. The article goes on to say that many new business owners had prepared financially for a best-case scenario, when financial advisors would recommend to most businesses starting out that they prepare for a worst-case scenario.
Dave Maxey has taught credit restoration at Universities, instructed bank underwriters and mortgage lenders on credit issues, is the author of Senate Bill 459 which makes it mandatory for High School students to pass a fiscal responsibility course, and is currently the finance and credit specialist at Discount Retail Store Services. One of his many responsibilities has been to help potential business owners improve their credit score in order to get better financing for their new business.
There are ten primary ways to raise capital in order to start a business including borrowing against your assets like a home for example; find “angel investors” which are business people who will often bankroll a new business in return for part ownership over that business; borrow from friends or family; put part of it on a credit card, get the traditional bank loan; secure a micro loan through the United States Small Business Administration or SBA; a 7(a) SBA loan which is an additional type of SBA loan; social lending online through sites like Prosper.com, trade credit is an option for new startups that are already off the ground but need essential supplies; and finally for some business models you can actually borrow from the customer. An example of this would be promising a set number of units of some product to a retailer prior to the business being started in order to fund the business.
Not all of these models will work for every type of startup business, but looking at a diverse range of options for securing the needed capital is essential according to experts at Discount Retail Store Services. Discount Retail Store Services uses several combinations of the methods listed plus additional means in order to secure the 100% financing for many customers.
According To Dave Maxey a lender used by this business development company offers 100% financing to qualified entrepreneurs with a credit score over 720, and according to him they are typically able to get someone with a credit score of 650 above 720 in a relatively short period of time.
So far Discount Retail Store Services has secured over $12 Million which covered 100% of the needed financing and many millions more covering nearly 100% of the needed financing.
DiscountRetail Store Services is a business development company that covers all of the core tasks of beginning a business including site location, lease negotiation, financing, build-out, business training, new store oversight and training, and ongoing wholesale support and customer support. They specialize in six business models including dollar stores, clothing stores, teen stores, party stores, mail box stores, and fitness centers. Along with their website you can find more information at the Discount Retail Store Services website.