I am looking for around 5,000-6,000 in capital to purchase an arcade machine I can place at a local indoor soccer facility. I already have a good relationship with the owners of the place and feel like I have a good possibility to get my foot in the door and place a machine there. I have made contact with the owners (just to see if it's possible), I have created a business plan, I have a website, and I have contacted the company who makes them and now have marketing materials.
Website: www dot FCFinvestmentgroup dot com (click on "Stacker")
I'm ready to go but I'm having a much harder time securing funding than I expected. The amount of money I need is almost too small, so its hard to find a lender. Here is my financial situation:
Cash on hand: $1,500
Debt:
$1,600 retailer (0% through 12/2009, no payments)
$16,100 car ($340 /mo payment)
Assets: This is my biggest problem. I rent from a friend of mine, I own one car outright (older) and I have a little top side in my newer car. Other than that, I don't have any assets.
Monthly expenses total just under $1,500 including everything, rent, car, insurance, utilities, food, etc. I net more than twice that amount.
Basically I have the cash flow to easily pay for the loan, but I'm not able to get a personal loan from a bank.
What do you think my best option is?
I am looking for $5,500 for 3 years @10% which I do not believe is unreasonable.





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