{ "media_type": "text", "post_content": "Business startup: need $750k land, 500k building or reno, $100k startup cash, 200k liquid for first few months. Which costs can be financed or borrowed for business against personal credit?", "post_id": "59d913977f92ba0017c21835", "reply_count": 26, "vote_count": 2, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }
null

Business startup: need $750k land, 500k building or reno, $100k startup cash, 200k liquid for first few months. Which costs can be financed or borrowed for business against personal credit?

like
Posting as :
works at
You are currently posting as works at

Launch an ICO

like

Sounds like restaurant

like

Ask the person who just received 2 million in inheritance to partner with you

like

Not sure, but if you are this cryptic with a bank you won't get far.

like

Sounds like a brothel

like

All of them@if you have a $1.5 MM piece of collateral

All of them, if you have a high enough income or enough collateral to put up.

You need $2m? How much do you currently have, what collateral do you have, is this business generating revenue already,

Bulk of costs is the damn real estate. New business no revenue ( can’t without the building). Given the breakdown in cost, what kind of collateral or income would be asked for? Decent income, multiple rentals (newish), and high equity percentage in primary home.

P1, not a bad guess. However if it were a restaurant, why but the land and rent instead? My guess is a small apartment building of some sort...or lofts

Fun game btw.

Not a restaurant - it’s higher margin but similar idea (local business selling some service).

Whatever you can't Kickstart

Except that person will only gave +\- $1m after taxes eat away at his inheritance

Yea wasn't really thinking about the land except for it's a very very specific spot that OP considers prime location and wants total control. Sucks to build out a spot and be good for the initial lease and then get fucked by a greedy landlord.

OP - not something I'm super familiar with but small business funding isn't easy I think. Need to deal with credit unions and commercial banks. You will need to use collateral from the land, building, equipment - and have personal collateral and guarantee for the rest.

Best bet is to gather some capital from network too.

Do you absolutely need the 1.25 m for build out?

That's a lot for a first business

agree, p1. And perhaps not. But there are lots of regulations on space and setup. It’s almost impossible to find an existing structure with space and land. Rental isn’t out of the question though.

Dumping that kind of capital into fixed assists with no revenue stream is rough...

As a former commercial lender, I can tell you that no bank would touch this with a 10 foot pole. Going to have to look at more creative sources.

Especially if this is some legal gray area thing like a grow op.

Additional Posts

travel 🐠: best SPG hotel in Milan for restaurants, bars, sitting in squares and drinking wine?

like

I’m looking for software that will help manage a/b testing on Facebook. Any recommendations ?

likesmart

Can we sign up EHE for spouse for free? Is the insurance company the right one to talk to?

like

ATKearney in NY - anyone willing to chat about their experience? I don’t have anyone in my network at ATK, so hoping someone is available here. High performing SC, up for M this year, post MBA.

Planning to do some Summer glacier national park backpacking. Anyone have any recs for routes/campsites? Looking for 3-5 nights, experienced backpackers

like

Got a job in Philly, will have to relocate...any reco for good neighbourhood / community / apartments near Philly with good school district and decent Indian/desi population?

like

Has anyone traveled into NYC from one of the states on the 14 day quarantine restriction? I’m trying to see if I can pull off flying in and out within 24 hours to gather clothes since I won’t be returning until next year. If I flew in from California, would I be banned from traveling out if after 24 hours? Not sure how the process really works

like

Don't stay in a toxic work environment. You don't have to.

like

Interviewed 3 week ago, every time I contacted the recruiter, she said no update & please be patient. Is this same as Ghosting and should I move on?

like

Now I remember why I never go home.
The mom’s micro managing my food purchasing/diet and guilting me into visiting my step dad’s burial plot I do not feel comfortable visiting among other things.

like

Is it worth going to an M7 mba ideally HBS or GSB if you already make 350k at 27. Went to a non target, would enjoy the two year break, and prestige but don’t know if 900k+ opportunity cost is worth it.

likefunnyhelpful

Is 35k a good sign-on bonus for B4?

likeuplifting

I work at a boutique consultancy, usually with strategy questions directly with C-level managers. This time they have asked us to take on a more operative role as a product manager. I have been selected, and as there seems to be a lot of experienced managers here, I come to you for advice. What are some important tips & things to consider now that I am about to step into this role at a company where I mostly know one c-level manager from previous work? Many stakeholders that I will talk to daily

likehelpful

What do you do if you made a $6k Roth IRA contribution Jan 1, 2021 when your salary was below the IRS threshold and now it’s above? I was at c. 100k on Jan 1 and now above the 140k threshold between raise in base and bonus. Am I obligated to take this contribution out? Or is there any way to roll over to another account?

like

Does anyone know anything about McKinsey’s Strategy & Corporate Finance practice? They seem to be relatively small.

Was wondering what types of engagements they work on, their reputation both internally and externally, culture, exit opps, etc.

like

Any updates for mid year hike in tech consulting?
Anyone received letters?

You think litigation has a better WLB than Trans? Considering switching from Lit to Trans. Burning out and don’t want to do law forever. Trans = better exit, but will it mean more years of hell

like

Hi all

Currently my package is 6.5 . Waiting fr my promotion to AST. My yeo is 8.7. I have more experience in manual testing and recently did Salesforce admin certification. Any suggestions for my career change as my package is low.TIA

like

Trying to plan a second full-time remote job around your MD micromanaging 5 hours of meetings every day.

Post Photo
likefunny

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

For account settings, visit Fishbowl on Desktop Browser or

General

Legal