Gauging interest

Sounds great, Paul. Thank you for your interest in hosting a Biznik event.

While I have the floor, I'd like to remind you and others reading this, that events must follow Biznik's "95/5" rule which states that events must contain 95% valuable content relevant to small business, and only 5% self promotion.

If you can tailor an event that is about how small businesses can repair bad credit, and limit a description of your services to 5% of the presentation - then you're golden.

Lara, since most members are solopreneurs, I'd say when the individual's credit is bad, the business' credit is bad. I think the content is extremely relevant to small business owners.

I learned that individuals and businesses can do what he does. But it's terribly inconvenient and time-consuming to do so. The benefit of using a credit restoration service is the convenience, speed and probability that his team can do it better since it's all they do.

Paul, have I got that right?

Great point, Joe. Thank you for your comment. I agree. So as long as the event description mentions how it's relevant to business it'd be golden, as in:

"Did you know that as a solopreneur, your personal credit score directly effects your business' ability to get credit..."

And it's not just for solopreneurs. (did we really need yet another term to describe somebody who is elf employed?). I recently had a lender level with me, and state that until I can show trailing twelve months revenue of at least $1.5m, and 10 employees, I can forget about any significant bank financing.

Banks don't fund small businesses, but they'd gladly let you dig yourself as deep in the hole as they think you're personally good for.

Michael, I'm intrigued. Would you be comfortable sharing what you did to obtain financing?

Maybe a completely new topic to post or an event you might host?

Joe,

Not very worthy of an event or hosting. I did what everybody else did, borrowed money from friends and family through prosper to help stem the tide, sold more business, put more debt onto our credit cards. I'm starting to pursue Angel Investors, having accepted that I can't grow as large as I think we can without selling off part of the company.

What we really need is a Prosper for small business. Something that encourages weighing the merits of the business plan, execution, and management team, and loans businesses money based on their potential.

Since we're talking about money. I do have ways of getting funding to small businesses as well as a few bank connections that could help out. I don't know which bank you spoke with Michael or how much money you were asking for but their are a lot of options out their for businesses without much history you just have to know where to look. Art T.

Arthur,

I know what you're about to say. If I'm a company with a lot of credit card processing, you can get me a loan of 1-2 months of my credit card receivables.

That's my favorite bit about small business financing:

1. Bank makes money off of your deposits
2. Bank makes interest points off of your loan
3. Bank takes 1-3% of your credit card processing

As a company that deals solely in wire transfers, and checks, it's another closed door..

Banks want the world, and offer nothing in return to small business.

Paul.. I hosted an event on this subject about 6 weeks ago and the attendees were very interested. I would be happy to participate and help you in any way. Just let me know.

NOTE TO JOE.... Contact me if you are interested in an alt Banker to help you finance your biz. That is what I do.... HH

Michael that is one way that you can get money but its not one that I usually recomend. However, I know Howard has a few good ways. I also know a few different bankers that may be interested in your situation. Banks don't always do that much for an existing client but many of them will bend over backwards for a new one. Any way either Howard or I could direct you to some additional funding if you still need it. Art T.

It sounds like a very worthwhile event if you decide to host it.

Paul. I'm VERY interested, even though I've already hired your credit correction services. I believe only great things are ahead for me, as soon as I clean up a few things in my credit. I'm so damn excited!!! I'll drive to the East side if I must, but I'm on the West side and would like to attend over here. Either way, I can't wait... -- Tyler --

Hmm. Very interesting discussion on the biz-credit front. I worked for a company out of college that I found out had paid wages on a credit card the week before.

I had my resume updated immediately and two weeks later when half the force was laid off and the CEO fired, I wasn't quite as shell-shocked as others.

Good thing I was networking with accounting!

This is an interesting topic and I believe that many people including myself would be interested. Countless businesses and retailers today do not take the necessary precautions to keep our personal information secure and away from hackers & identity thieves.

Being a victim of identity theft I would be interested in learning more about repairing my credit. And maybe later I can host an event of my own entitled: How To Keep Your Data Secure From Hackers :)