Boiler Room: The Official Stock Market Discussion
should mention I was in the money yesterday and XLE has moved up slightly (though CVX is still falling) - I am taking some money out of the "oil" trade.
Those things tanked, the OG's were right
Working on my business plan for Zaxby's
any of you guys had Zaxbys? is it better than raisin canes?
be honest
yiou had a magnificent run especially with TTDZ, I was sure that wasn't going anywhere and you made that money off it, that's all it matter.
Yea, it was def an experience. But BRND.......ohhhh BRND...why hath thou forsaken me
Im still caked up tho
Domingo Halliburton
Handmade in USA
Those things tanked, the OG's were right
Working on my business plan for Zaxby's
any of you guys had Zaxbys? is it better than raisin canes?
be honest
I don't think they have zaxby's in the northeast.
If you are approaching banks and SBA lenders be prepared to have some of these things. SBA can be a pain in the ass to work with but it mitigates the lender's risks when you get those government guarantees on loans. You may not need all of this but there may be cases where you may need more than this:
1) Business Plan for the Client.
2) Detailed Source and Use of Funds Statement.
3) Any 3rd party reports that support market feasibility and financial risk mitigation tools, etc. (you may not need this)
4) Three (3) years of projections (Cash flow, Income Statements, Balance Sheets), Year 1 projections shall be by month; Year 2 and 3 projections shall be by Quarter. Reasonable Notes and Assumptions must support the financial projections.
5) Interim financial statement for Borrower, if available (not more than thirty (30) days old).
6) Copies of organizational documents (e.g., Articles of Incorporation, By-laws, Articles of Organization, Operating Agreement, etc.) for Borrower and executive management resumes for the operating principals.
7) Copy of the personal financial statement of anyone owning more than 20% of Client and three (3) years of personal income tax returns and three (3) years of corporate income tax returns of the Client, if applicable.
8) Client is free to use any CPA or other appropriate financial expert (there can be a loose definition of what defines an "expert") to prepare this information if such is readily available. We can also recommend a CPA for you.
9) Other items as required by the Lender, SBA, FHLB, and/or Advisor.
How am supposed to get the figures for three years worth of projections on a business that is not even open yet, where do I got.
The most I have in an income disclosure statement, telling me what the top 25 and bottom 25% of owners are making
Domingo Halliburton
Handmade in USA
How am supposed to get the figures for three years worth of projections on a business that is not even open yet, where do I got.
The most I have in an income disclosure statement, telling me what the top 25 and bottom 25% of owners are making
well it's certainly something a CPA can do for you. Personally I think they pull half the numbers out of there asses. The bigger crocks are feasibility study guys...their reports are just bullshyt.
and if you're a start up you may want to look up equity requirements for the SBA if there are any. I know the USDA wants 20% tangible equity showing on your balance sheets.
1. fukk!.. Guess I will need a cpa (im cheap) you have a ballpark figure on how much it would cost, and how does employing a cpa work?? not like imma need one everyday (excuse my inexperience)
2.not really worried about the equity, my folks got paper......they just dont like using it
Domingo Halliburton
Handmade in USA
1. fukk!.. Guess I will need a cpa (im cheap) you have a ballpark figure on how much it would cost, and how does employing a cpa work?? not like imma need one everyday (excuse my inexperience)
2.not really worried about the equity, my folks got paper......they just dont like using it
CPAs can really range in price. I knew one who was charging their clients like a $1,000 just to have a meeting with them. Which is ridiculous. Others are much cheaper than that. Other financial adviser types can prepare some of this information for you as well. I would call around and see what prices are looking like. A lot of the smaller firms will probably do a free consultation for you as well to try and entice you to sign with them.
Domingo Halliburton
Handmade in USA
@Shugg Ross like I said in the other post your bank might not need all that stuff I listed. That's just what I've typically seen.
I would sit down with a bank first. See if they're a SBA preferred lender it will speed up the process if you want to go the SBA route.
I would sit down with a bank first. See if they're a SBA preferred lender it will speed up the process if you want to go the SBA route.
One of the biggest lessons I've learned as business owner is you need to think about the places you could or are losing immeasurable amounts of money, which often occurs because you wanted to be cheap and do things yourself.
Pay the money for an accountant. Do not be cheap when it comes to this, especially if you're talking about franchising. Accounting is complex and you will want one for the day-to-day because it will bog you down, taking time away from more value-added activities.
Yes sir
got in yesterday at 38.8. a little later than I hoped but nonethelessBest Buy possibly next on my wish list
but not sure about the dirfection yetit's TTM P/E is about 10 right now. Absurd how low it is
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Domingo Halliburton
Handmade in USA
Best Buy possibly next on my wish list
it's TTM P/E is about 10 right now. Absurd how low it is
Can I ask what you like about either of those companies?
edit: didn't realize you changed your name
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