This publication is designed to provide competent and reliable information regarding the subject matter covered. However, it is sold with the understanding that the author and publisher are not engaged in rendering legal, financial, or other professional advice. Laws and practices often vary from state to state and country to country and if legal or other expert assistance is required, the services of a professional should be sought. The author and publisher specifically disclaim any liability that is incurred from the use or application of the contents of this book.
About the stories in this book: Stories that list a person by first and last name are stories of actual individuals who have agreed to share lessons they have learned with our readers. All other stories are fictional. Any resemblance to real persons, living or dead, is purely coincidental.
If you purchase this book without a cover you should be aware that this book may have been stolen property and reported as “unsold and destroyed” to the publisher. In such case neither the author nor the publisher has received any payment for this “stripped book.”
Copyright © 2015 by Garrett Sutton, Esq. and Gerri Detweiler. All rights reserved. Except as permitted under the U.S. Copyright Act of 1976, no part of this publication may be reproduced, distributed, or transmitted in any form or by any means or stored in a database or retrieval system, without the prior written permission of the publisher.
Published by SuccessDNA, an imprint of Brisance Books Group LLC
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Minden, Nevada 89423
The opinions of the authors reflect their judgment at the time of publishing and are subject to change. Neither the authors nor the publisher are responsible for the accuracy of this data. This book is distributed for informational use only; it does not constitute legal, tax or professional advice and should not be used as such.
Table of Contents
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Part Two: The Foundation For Financing
Chapter 11
Chapter 12
Chapter 13
Part Three: Financing with Equity
Chapter 14
Chapter 15
Chapter 16
Chapter 17
Chapter 18
Part Four: Scams and Successes
Chapter 19
Chapter 20
Conclusion
Appendix A
Appendix B:
Private Placement Memorandum
Summary
Exhibit “A”
Exhibit “B”
Appendix C
Appendix D
Resource Section
About the Authors
Acknowledgements
The authors would like to thank the following people for their insights and contributions to this book: Dave Archer, Grayson Bell, Libby Bierman, Robin Bramman, Ali Brown, John Cambier, Adam Cohen, Aaron and Kathy Corr, Jan Davis, Jeff Desich, Chris Kelley, Levi King, Shaun Merriman, Julia Pimsleur, Mark Pinskey, Emily Chase Smith, Tom Trafficante, Claudia Viek, Brian Ward, Michael Weiss, and Tom Wheelwright.
Your assistance is greatly appreciated.
Books by the Authors
Garrett Sutton
Start Your Own Corporation
Run Your Own Corporation
The ABCs of Getting out of Debt
Writing Winning Business Plans
Buying & Selling a Business
Loopholes of Real Estate
How to Use Limited Liability Companies and Limited Partnerships
Gerri Detweiler
Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights
Reduce Debt, Reduce Stress: Real Life Solutions for Solving Your Credit Crisis
The Ultimate Credit Handbook
Invest In Yourself: Six Secrets to a Rich Life
Foreword
By Ali Brown
When I started my business in New York in 1999, I was broke. My credit was terrible, and I had tons of debt. But it didn’t stop me. In fact, I believe it helped propel me to success. Why? Because I had no other choice. Not only did I want to make money fast, I needed to!
And that drive led me to an incredibly successful entrepreneurial career as well as an Inc 500 ranked enterprise sharing leadership and business strategies with other women business owners.
By definition, entrepreneurs are risk takers. Just by picking up this book, I know something about you: You have dreams that are probably much bigger than your bank account. You know you are more than your credit score. And you are ready to turn your dreams into reality no matter what “they” say.
You don’t have to get a small business loan to start a business, but there are times when access to credit can be an asset. If you are going to get a loan or raise money through crowdfunding, you want to be smart about it. And that’s what this book will help you do.
Since launching my business over fifteen years ago, I’ve had the privilege to work with thousands of entrepreneurs from all kinds of backgrounds. One thing I’ve learned and share with them is that it is critical to have mentors and coaches; smart people who can help you fill in the gaps and avoid pitfalls.
Garrett Sutton is one of those people in my network. He’s a corporate