Paul Holzschuher ⋅ Lebanon, OH Ohmart/Vega ⋅ 40 years experience

Hello Leland,
I suggest you create a business plan or at least a cash flow projection for your business.
A cash flow projection spreadsheet will allow you to estimate business expenses and projected income.
SCORE has an excellent spreadsheet for this at
http://scoreworks.org/briefs/Excel1100.xls
with instructions at
http://scoreworks.org/briefs/SCORE%204.09.46.pdf

If the spreadsheet will show a profit with over estimated expenses and under estimated income, you have a good chance having a profitable business.

In 1980, I made a 10 year cash flow forecast before I bought my first rental building, because I wanted to see when my down payment would show a return. I forecasted a return of down payment after 3 years and in practice the return was in 2.5 years.

Good Luck,
Paul

John MacDougall ⋅ Colorado Springs, CO Engineered Air ⋅ 9 years experience

http://smallbusiness.chron.com/disabled-veterans-can-obtain-small-business-loan-741.html
The SBA offers unsecured small business loans to veterans.

Lowell Sandoval ⋅ Seattle, WA LowellSandoval.com ⋅ 25 years experience

Leland,

I'm not aware of any entity that will provide a loan without collateral. Next best path is;

1) ...to explore a retailer relationship to start under another company's business license.
2) ...explore an Angel investor or business partner that will fund the business startup costs
for an ownership stake in the firm.
3) ...raise money thru friends and family
4) ...raise funds through selling t-shirts, cookies...under a clear understanding it will enable you to start a business.

Money without collateral is tough.

Best wishes,

Lowell Sandoval

Michael McIrvin ⋅ Mcpherson, KS Pain Relief Center ⋅ 23 years experience

First off, thank you for your service to our country. I am not sure of any assistance to veterans for business loans. It is very difficult to get a loan in the private sector in your situation. My advice would be to not be in a hurry, do your research on the business model you are considering. It would be good to get experience in that sector before opening your own business. This would give you time to build credit, get experience and save some money. A good question to ask is this; If you were lender, would you make a loan to someone in your situation?

If you still want to go the loan route now, probably the only path that would work is a loan from a family member, or have someone co sign a loan with you. If you start your business, THE rule is take in more than you pay out. Start small and don't get over extended.

Good luck to you in your future ventures, I wish you well.