How to find a financial backer for a new business?

I want to open an activity center for children and their parents in Cape May, NJ however I would need to find a financial backer to pay the majority of the costs in the beginning. I'd offer all types of instructional classes for parents, kids, and both. I'd also make certain days and times available for free classes/meetings for la leche and other similar organizations. After I came up with a business plan and proposal wher ewould I begin to look for financial help. I am also current a student full time, (which if this started would go to part time for a while) I have about $40000 in loans so not the best credit. I deffinatly would have trouble getting enough financial assistance on my own.

I would also carry specialty/novelty items for moms dads kids pregnant women ect. I would need a large space as there would be activity areas with climbers and other things along with swings and pack and plays for smaller children. I'd have to hire a staff that was certified first aid/CPR as well as certified in whatever kind of class they were instructing on. It would be somewhere you could either just bring your kis to play while the parents hung out and talked, with classes in the evenings and on weekends.

A true business credit card is a line of credit that is taken in the name of the business, under the business' credit. Activity, whether good or bad, is reflected on your business' credit report through D&B and other financial institutions, and the liability for any debts incurred and bills owed is with the business.

However, some companies out there offer "business" credit cards which they require a person guarantee for. These institutions will often ask for a personal guarantee, and will almost always ask for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts - you are.

When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that asks for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business' credit, while avoiding creating problems with your own.

Many companies offer a list of credit cards that are issued under the business name only. Those lists typically run $300-$900, depending on the quality of the information inquiring. I would suggest starting your search online via google or yahoo. Search for "strong business credit" (just like that in quotes) to find services that sell the information.


Good luck,


Ilya Bodner
Small Business Owner
Initial Underwriting Group

No lender will talk to you unless you provide them with a valid business plan. Go to http://www.sba.gov , http://www.score.org or http://www.bplan.com for sample business plans and instructions on how to write a business plan.

Then, go to http://www.score.org/ and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor to review your business plan and discuss various loan options available to you.

SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).

SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.

You could go to the bank. Some investors are advertising online and in magazines. You could try to get a grant to start your business.

A small business loan is one of the most treasured commodities in the business world. It is still very hard to get despite the claims and promises of banks, credit unions, and other lending institutions that they want to help American small<!--business to survive and grow. In fact it sometimes seems that banks and other lenders want to see small businesses fail and only support those that survive the battle for customers, revenues, and finances during their first two years.

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Getting a small business loan is most difficult during these first two years, when most businesses face a myriad of challenges involved with not only opening their doors, but hiring and training staff and meeting the d