How To Get Local Investors?

[Kelekin]

Hey everyone. So I've come to a bit of a road block on my quest to have a retail location for the business I run. Ideally, I wanted a location by the end of the year, but after talking with the bank, it sounds like it would be very hard for me to get a loan with the fact I have no collateral. I had massive financial issues when I was 18-19 (moved out while in school, economy crashed, paid mine and my roommate's rent on credit card for months, went back to school) and as such, have had to pay down five-figure debt. I have managed over the past few years to run a successful video game business at conventions in Western Canada, but even so, I have nothing to offer the banks.

So my question is - if I'm looking for local investors, what do I do and where do I go? I am working on fleshing out my business plan, as this is something I have put years towards designing and there is a market for what I do. But I don't know the first step about finding local investors. I figured some of you awesome CPers could help me out as to what I should do?

Thanks in advance!

[Kjesse]

On a retail play, if you have no capital of your own and can't get family or friends to put significant funds in, you're going to have a very difficult time finding someone to finance your venture.

Not to dissuade you, you can always try though.

You're looking for an "angel investor", someone who will finance a start up. Google angel investors calgary, there are many whom claim to have capital waiting to invest.

[Kjesse]

Here's a link to get you started: http://www.vaangels.com/process/

[Kelekin]

Originally Posted by Delgar

On a retail play, if you have no capital of your own and can't get family or friends to put significant funds in, you're going to have a very difficult time finding someone to finance your venture.

Not to dissuade you, you can always try though.

You're looking for an "angel investor", someone who will finance a start up. Google angel investors calgary, there are many whom claim to have capital waiting to invest.

Awesome, thanks for your help!

[Bend it like Bourgeois]

A lot depends on how much you need and how big you plan to get. Angels and VCs look for certain kinds of deals.

The business link can provide a lot of info
Community futures and cybf can do small loans
Bdc does bigger lending
Often these groups will work together

You might also want to try crowdfunding (there are local business platforms), non traditional lenders who look at cash flow, or the exempt market even for a private raise. I know of businesses that have even gotten supplier or customer credit to grow. Even contests can help if you have a good story.

I am not an expert but If you want to post or pm me more details I can try and be more specific.

Good luck