Start a new business

You have an idea, a dream, or desire to start a business but now sure what to do now. These resources were created to aid you in the process of pursuing your idea. Starting a business is certainly not easy, but can be so rewarding.

 Financing Options Available

SBA 7a Term Loan

Business Credit Cards

Factoring Line of Credit

Merchant Cash Advance

Friends & Family

Home Equity Loans

Life Insurance Policies

Venture Capital

Government Grants

Angel Investors

Helpful Attachments

Business Startup Resource Guide

What is the SBA 7a loan program

Types and Sources of Financing for Start-up Businesses

Washington State Business Startup Playbook

Helpful Resources

SCORE- National Business Advising Services

Small Business Development Center- Washington

Small Business Development Center- Oregon

Small Business Development Center- Idaho

CBA- Commercial Multiple Listing Service (Find commercial lease space)

SCORE- Startup Resources

Video- How to start a business from scratch

Video- How to get a startup loan

Video- What bankers look for in Service Companies

Video- How business credit works

Video- Business Plans

Helpful Links

SBA Lender Match

Get an IRS Tax ID Number in Minutes (IRS)

Create a Washington State LLC (WA Sec of State)

Create a Washington State Corporation (WA DOR)

startupstash.com  – A curated directory of resources and tools to help you build your startup. This is a good starting point.

squarespace.com/logo  – Use this for basic logos done instantly.

portent.com/tools/title-maker  – This helps you figure out content ideas. Help get creativity flowing.

stocksnap.io  – Free Stock Photos for your website or other uses.

mailchimp.com  –  Newsletters and signup widgets

zoho.com  – FREE CRM tool in order to keep track of your clients and follow up

namecheap.com  – Lowest cost way to register your website domain

fiverr.com  – Pay $5 (or a bit more) for tasks ranging from logo design to copy writing

www.score.org/browse-library  – Take free classes on things to help start your business

skillshare.com  – Unlock your creativity with free online classes & projects

Calculators

Restaurant Food Cost Calculator– Easily break down bulk food purchase costs into portion costs

Start up Cost Calculator– Find out how much you need to start up your business

Loan Payment Calculator (Use 10 year loan term)

FAQ

Will I need collateral?

Yes, startup loans are hard to get and not many banks provide them. It is safe to say even using SBA loans you will need to be close to full collateralization for these types of loans.

Do I have to have good credit?

YES! a score of 700 plus would be required.

I heard that startup restaurant loans are hard to get

Yes- That is true, they are the hardest because in general restaurant margins are small and loan defaults are high.

In order to be successful getting a start up loan what are the key things I need?

• You’ll need great personal credit 700+

• No Bankruptcy’s or judgements in the last 10 years

• Positive net worth

• Sold Business Plan

• 3 Years of Projected Revenue with Assumptions

• Collateral for offer for the loan

Have more questions? Are you located in Washington, Oregon or Idaho?

Contact Paul Long