Me and my friend just moved from Ukraine, left our businesses and homes there, we left everything and moved to US. Now we want to start a car rental business in California but I don’t know where to get funding, $50,000 at least. I already considered: Loans - it’s hard to get one without credit score and collateral, already got rejected from all the major banks and they ruined my credit history, because now I have 17 hard inquiries Business credit cards - already applied for all of them, got rejected CDFIs - they can give you a loan to start, but their requirements are either 3 months in business or any sources of income GoFundMe - I started a crowdfunding, but no luck so far, we got just one $100 donation… Government grants - I don’t have any idea how to get them, there are more than 1000 programs, they also want to see your business running What can you recommend to secure $50,000 to start? Are there any programs for startups or specifically for refugees?
If anyone wants to become our investor please contact me, we’ll discuss!
This guy is gonna crush. Welcome to America
Your expectations are not in line with the realities of how grants work here. No one is going to just give you $50k, refugee or not.
That being said, these are your most likely-possibilities outside of grants:
- Seller Financing + SBA Loan
- Friends & Family
- Loan Sharks
- Convince an Angel Investor
- Work your ass off and save every possible penny for a long time
How to get an SBA loan, what banks are giving SBA loans to startups?
How to get a loan from loan sharks, can you please advice any specific loan sharks?
Where do I find an angel investor?
No one will give you money for an endeavor with zero collateral. You will need cash to start things up, maybe after a year to 6 months of positive cash flow will someone consider you…
Niestety nie jest prosto…
I guess I’d ask what differentiator you have that is going to make your car rental business more competitive than all of the other car rental businesses in CA?
I’m not planning to compete with Hertz or Avis that’s the most stupid assumption I ever heard 😂 Imagine you’re just buying 1 car and renting it out to your friend. Don’t overcomplicate.
First, I’d consider somewhere else to do business such as a red state (economic freedom).
Quite frankly, and with all due respect, you represent a high risk.
You are not a citizen. You do not own property or have any assets.
If I lent you money, it would be unsecured.
If you didn’t pay me back, what recourse would I have?
Also, you are going to need a whole lot more than $50K to start up a mom and pop car rental agency.
$50K isn’t enough for operating capital.
I’m not planning to compete with Hertz or Avis bro 😂 Imagine you’re just buying 1 car and renting it out to your friend. Don’t overcomplicate.
So you and your friend ran a successful car rental business in Ukraine?