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Question re: Financing Projects
gmac17




msg:4228929
 8:14 pm on Nov 10, 2010 (gmt 0)

Do you allow financing of your projects, and if so - what are the terms?

Does anyone work with / point potential clients to an outside lender?

IE - when a possible client says, "I love your work and want to start with this $20,000 project - but I simply can't come up with the $10,000 for phase 1 " - Does anyone say "call so and so, they may be able to lend to you..."?

 

chrisranjana




msg:4229961
 2:24 pm on Nov 13, 2010 (gmt 0)

You are talking about venture capitalists ?

Staffa




msg:4230008
 5:30 pm on Nov 13, 2010 (gmt 0)

If that possible client can't come up with the $10,000 for phase 1 what are the chances that he CAN come up with the $10,000 for phase 2 ?

I would, in very diplomatic terms, tell him to come back when he has his financing sorted out first.

Unless you are familiar with a particular lender to refer that client to then he better talks to his bank first.

gmac17




msg:4231199
 9:51 pm on Nov 16, 2010 (gmt 0)

Staffa - There are a ton of businesses out there who are profitable / healthy, but who don't have $10k in the bank at any given time.

If you could point them to someone who would loan them $20,000 - they would immediately have the money to sign up for your $20,000 project.

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