Monday, March 30, 2009

Two Sources of Financing

In an effort to seek funding I would first turn to angel investors to avoid debt. My business is in Niagara Falls, NY and it is more probable to get funding from a local financier. The HSBC Plaza is only 45 minutes from my location. Information about the Rochester Angel Network is found below:

Option One: Rochester Angel Network
Address:
Rochester Angel Network
100 Chestnut Street
HSBC Plaza - Suite 1910
Rochester, NY 14604

Contact Person:
James Senall
Director of Rochester Angel Network
Phone: 585-546-8477
Email:Takes Place Through Website

I understand however that acquiring this financing from RAN is highly improbable because their previous clients were mostly technology based companies. I therefore found two other sources to borrow the money through loans. Friends and family would not provide the necessary start-up capital.

Option Two: Bank of America:
Address:
1263 Military Rd
Niagara Falls, NY 14304

Contact Person:
Frank G. Giogas
Assistant Banking Center Manager
Telephone: 716-283-8783
Fax- 716-283-6462

Information about small business loans was found on the Bank of America Website. Bank of America is my personal bank and Frank manages my current account. I called and talked to him and he said that he would be responsible for the initial phases of getting a loan.

Option Three: First Niagara Financial Group:
Address:
7350 Niagara Falls Blvd
Niagara Falls, NY 14304

Contact Person:
Angela Robinson
Loan Officer
Telephone: 716) 283-0749

In order to attain this information I had to call the bank and personally ask who I would contact.



2 comments:

Professor said...

Some of your comments seem cut off in your blog, can you revise so I can read them? Want to do that before I grade so re-submit for next week with the rest of your assignments.

Professor said...

This is better. One possible financing source, the second one is a bit tenuous, and you asked neither whether you might qualify for SBA loans. Also, NY State offers some start up financing, in particular in certain areas near Buffalo, and to women led businesses. Grade: B.