Business loans for online business?

**Caddyman** · 09-25-2008, 07:41 PM

ok so i have a little online busines like most of us do, our forums. i get word today that the guy i kind of co-op with for websites in delaware is selling a bunch of his sites, including his huge delaware directory. take a look here

ill get the link here in a little bit (basically like 5 major sites, lots of traffic (45k uniques per month), 2000+ mailing list and gauranteed 3k a month income)

but my question is, the network of sites is listed at 40k obo. obviously i dont have 40k, or even 20k, but i think it would be huge for me and my business

are there any business loan or startup loans available for people with online business or is it just for brick and mortar type businesses?

**Rocket 442** · 09-25-2008, 08:52 PM

There has to be some sort of online business loans. They should allow them for online businesses as they are very similar and can be just as successful.

I figure with some of the big-wigs of online purchases there must be a way to do it. Although it may be very hard to get a loan for ~40,000 unless you've got near perfect credit in the current economic situation.

**Soliloquy** · 09-25-2008, 10:15 PM

are you incorporated already? If not you would definitely have to get it all legal.

**Caddyman** · 09-26-2008, 05:26 AM

yeah i mean i KNOW the guy who is selling it, he actually emailed me to give me first dibs and i figure i might offer him like 30 and take it. it is a huge leap for me now and im not really ready for all that, but i was wondering if there were loan programs for online business...maybe even a federal grant or something...

**Caddyman** · 09-26-2008, 11:20 AM

well im still not jumping in feet first but i contacted the SBA and talked to a counselor who says in order to get a loan i need to go to my bank with a good business plan. i have a decent business plan but wants a solid one so im awaiting a call from a counselor from the DE small business assoc for help with that.

way i see it, i know the guy selling and if he says he is doing 3k+ a month revenue he is not exaggerating. so if i sent 30k i would make it back in roughly 10 months.

miajade20 · 10-02-2008, 02:54 AM

last year i also need a loan for setting up my online business. i searched on internet and i found this Quick Personal Loans website on internet took a quick personal loan from here and found it to be very useful

**Tessa** · 10-07-2008, 07:14 PM

Does everyone who owns a forum have it incorporated?

**Yogesh Sarkar** · 10-07-2008, 07:28 PM

I guess majority of the online business are either self funded by small time entrepreneurs like us or are run by engineering/management degree holders who get funding from institutional or private investors.

**Caddyman** · 10-07-2008, 07:56 PM

I have a Delaware Business License for a sole proprietorship for TalkDelaware.com and I pay taxes and the license fee every year for income (even though it is not much)

I actually almost bit the bullet and took out a loan for this over and felt it was too much to take on at one time so i passed....im sure ill be kicking myself in the future.

**Caddyman** · 10-08-2008, 06:51 AM

spamola

**ArnyVee** · 10-11-2008, 09:23 AM

Boy, what a tough call.

Sorry that you weren't in position to do the deal. It's a shame. That was a great opportunity!

Wouldn't he be able to give you a payment plan of some sort? With you being able to make the money back and be profitable within a year is an amazing business opportunity.

Did he sell it yet?

**Caddyman** · 10-11-2008, 12:32 PM

idk if he sold it yet or not....it's ok, i push onward