nothing else to lose
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Post by nothing else to lose on Nov 3, 2016 2:00:42 GMT
Does anyone know where I can get funding for about 150k? Summer hit me hard and I can really use the funds or I may have to shut my doors. Please help
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Funding
Nov 3, 2016 9:31:47 GMT
via mobile
Post by Common Sense on Nov 3, 2016 9:31:47 GMT
Do your self a favor and shut the doors. why sink another $150,000 into a sinking ship?
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Post by snaplongtimer on Nov 3, 2016 18:28:21 GMT
Consider your existing debt and add that 150k. Then how many years it'll take to recoup that money before getting paid yourself for all the years you will be working for free. By then your equipment will need replacing and the cycle continues. Common Sense is correct. Time to do what the Detroit Lions used to do...run-run-pass-punt. Except that it's time to punt...
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Post by firecrackergirl on Nov 3, 2016 22:48:28 GMT
$150k? I hate to see a club fail , but as the saying goes, fool me once... If I we're you, I'd cut my losses and call it a day!
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Post by firecrackergirl on Nov 3, 2016 22:49:08 GMT
To answer your question though, a home equity loan/sale of your house/ or liquidation of all other assets might turn up some funding.
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Post by cheryl on Nov 4, 2016 1:00:32 GMT
Is your club profitable or losing money? If it's losing money what is the $150K going to help you improve? Do you have new ideas for driving more members to your club? Put yourself in the position of the bank. Why should they loan you the money? Has anything changed recently? Way too many questions to ask in order to figure out what your next steps should be.
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Post by firecrackergirl on Nov 4, 2016 16:13:49 GMT
I second what Cheryl said... your goals need to be more defined at this point IMO
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Post by snaplongtimer on Nov 4, 2016 16:47:59 GMT
..punt. I would never reinvest that much into an existing snap club unless it's one of the top performers in the nation. NEVER. If it was a top performer...you probably wouldn't be on this website, but rather sitting poolside having drinks with Pete..
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Post by cheryl on Nov 4, 2016 18:36:17 GMT
Being a top performer doesn't keep one from being on this site. It's more a matter of being lied to and taken advantage over and over again with higher fees, and having to turn one's life inside out in order to achieve success with a fraudulent business model. Steal $.01 from me and I'm gonna be pissed. I have no time for thieves. They should all be punished.
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