I want to open my own business its a golf driving range how to get a loan?

I have some credit and have been involved in golf and other rmenial jobs for the past 8 years. I do have some credit but really I feel its hopeless how can i get a loan on some land to open up my own driving range it just seems impossiible to succed today without being rich how can I do this without saving until im 50 right now im 25. What can I do to get a loan do I have to make at least 90 thousand a year

or just know the right people what can I do to succeed in my goals to end my poverty?I want to open my own business its a golf driving range how to get a loan?You stand a greater chance of getting a government-guaranteed loan through the Small Business Administration http://www.sba.gov/financing than a government grant. Read the SBA Financing page to learn about criteria needed for borrowing



It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business. And yes, grants mean PAPERWORK - lots and lots of it, that is why a cottage industry of grant writers was born.



Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.



Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/expanding/grants.html鈥?/a>



"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."



Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business -- THERE'S NONE.

http://12.46.245.173/pls/portal30/catalo鈥?/a>



Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program



Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs



I suggest you read the following books to get ideas of how to finance your business:



Financing Your Small Business http://www.amazon.com/exec/obidos/asin/1鈥?/a>

Small Business Financing: How and Where To Get It http://www.amazon.com/exec/obidos/asin/0鈥?/a>

Financing the Small Business: A Complete Guide to Obtaining Bank Loans and All Other Types of Financing http://www.amazon.com/exec/obidos/asin/1鈥?/a>

The SBA Loan Book http://www.amazon.com/exec/obidos/asin/1鈥?/a>

Angel Capital : How to Raise Early-Stage Private Equity Financing http://www.amazon.com/exec/obidos/asin/0鈥?/a>

Financing Your Small Business (Barron's Business Library Series) http://www.amazon.com/exec/obidos/asin/0鈥?/a>



For private grants, you may want to check the Foundation Center's Foundation Grants for Individuals Online http://gtionline.fdncenter.org . It's a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for "students, artists, academic researchers, libraries and financial aid offices." Entrepreneurs are apparently not one of them, so I take it they also don't have listings of private foundations who give grants to would-be entrepreneurs.



Source(s):



http://www.cfda.gov

http://www.grants.gov

http://gtionline.fdncenter.org

http://www.powerhomebiz.com/vol66/grants鈥?/a>

http://www.sba.gov/expanding/grants.html鈥?/a>I want to open my own business its a golf driving range how to get a loan?Many people face the same challenge when starting out. The real problem is that no one wants to loan you money without a proven track record in that business....you can't start the business without money. It's a vicious cycle. Most lenders will want you to have some "skin in the game" so to speak. They will want you to have some of your own money invested to show that you're serious, and to make it more difficult for you to walk away from the venture if times get tough. In order to get the ball rolling, you need to do a couple of things.

1. Write a brief business plan citing the important points of your business. Include information about the your experience. About the proposed business location, buy or lease property?. Do some industry research and try to find out the expense of operating this type of business (overhead, payroll etc). Just try to pull together a realistic and concise report on why it's a good idea, how much it will cost to start up and cash flow for a few months, how much you can afford to pay back per month and revenue projections for the first three years. BE CONSERVATIVE! Don't over promise. The biggest mistake people make when starting out is overestimating their revenue, and underestimating their expenses. Detach yourself from your emotion and hype and take a realistic objective view of the numbers on paper. If you can prove it will work on paper to yourself first, you'll have a better chance of selling it to a bank. Try to wrap it up in 10 pages...banker have notoriously short attention spans.

2.Consider having a financial backer like a parent, relative or older more (financially) well established friend co sign. In order to loan money, a bank looks for collateral to loan against. Stuff they can take if you default on the loan. In an established business, they can loan against the value of the fixed assets. In a start-up, you have to pony up the collateral. Offer your backer a piece of the pie until such time as the business (or you) have accumulated enough assets to secure the loan.

3. SBA loans are O.K. but nothing to get real excited about. Forget gov't grants period. Any SBA loan is simply a loan in which a person with no collateral partners up with uncle sam to get a loan from the bank. The U.S. gov't is your business partner and secures i think up to 80% of the loan to the bank. They say if you don't pay, they will. Call you local banks to see which ones offer SBA programs. Talk to an SBA loan officer to see if you can qualify. This process will take time and you will need a business plan.

Banks WON'T take much of a risk on you because of your age, credit status and assets. Just the facts of life. Bankers WILL listen because you're talking about golf which everyone loves and the idea is easy to understand. You have a little advantage there. Before you start presenting it, do your plan, figure out how you can bring a little money into the deal and know the information well. Good Luck!I want to open my own business its a golf driving range how to get a loan?Ask yourself this question: Why would anyone lend me money for a golf driving range?

If you have a good answer, then people will entertain your request. To have a good answer, you need to know this:

A business plan. How much will it cost to buy, build, stock, maintain a driving range. What is your anticipated cashflow. What is the competition. What is your marketing plan.



You can not expect banks or individuals to give you money on a dream. They too are in a business to make money, and the best prepared applicants that show the best plans with the smallest amount of risk are going to get the cash.