I recently started my landscaping company, registered it and wrote out a who’s 25 page business plan. Now I’m seeking capital but most lenders are telling me 2 things, 1: my business has not been established long enough to get a loan, 2: the business hasn’t generated any revenue. And due to these reasons they can not provide me with a loan. I’m wondering if anyone knows of some lenders that lend to fresh start ups? The loan would be going towards buying equipment for the most part, small portion towards marketing/advertising. I have had no luck with finding a lender:(
There’s both good and bad news here. The bad news is that what you’re finding - can’t get a loan to provide general capital for a startup landscaping company - is typical. The good news is that landscaping is inexpensive to get into and there are others routes to try. Bootstrapping is common; save up to buy a lawnmower and edger, use those to provide service to your first few clients then add equipment and marketing as you generate money from them. If you have good personal credit, equipment loans are not difficult to obtain as there’s some collateral.
Do you have experience in landscaping or managing a similar business? How much funding were you thinking you needed?