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Hailskins

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About Hailskins

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    East Brunswick

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  1. We have another meeting with the attorney next week and will probably do LLC but that is up for discussion and we may go Inc. The licensing for a brewery is definitely a pain in the ass! I think we could go smaller initially - hell that might be our only option. We can always expand down the line when business is booming. Private money is a good way to go except that many investors would want an equity position in the company. I already have two partners and don't really want more! Maybe I should go on Shark Tank haha. Kings - the problem with "small chunks" of funding for this particular business is that there has to be an initial outlay for equipment or else we can't brew! If we can overcome that hurdle I like our chances.
  2. Once again thanks for all the info. It reinforces for me that bank financing will probably be impossible although we are going to try. This whole thing has been a huge challenge and gives me a lot of respect for those who strike out on their own in the business world. Golf - I will need a lot of hops! Definitely let me know if you decide to grow, and what varieties.
  3. Thanks so much for the input. I don't see it as a "downer", just reality - and I'd much rather know what the reality is. Good idea about the local banks. 750 is a big number, that would be ideal but we can get by with less. The initial investment of just the equipment is close to 200k before we even turn the lights on. Crazy.
  4. Sure! Internet beers for everyone! :drinks: Don't worry I'll make sure everyone is well informed of the opening. If all goes well I'd love to have the doors open by the fall. Lots of permits, buildout, equipment install, etc. before then. Not sure where I'll find the time. Just jumped on quickstart it looks like an IT training company? Not sure that would apply here.
  5. The business is a smallish local brewery. Plan is for a taproom, distribution of kegs to area bars and semi-regular cannings for sale "to go". Business plan is 98% there and should be done by the end of next week. Can you clarify about Sweeney? Is he anti-business?
  6. Myself and two partners are opening a business in Essex County. Besides the SBA, which we are actively researching, does anyone know how to fund a new business? Grants, loans? I'd like to stay away from private investors for the moment but it could work as a last resort. I don't think we're the typical "walk into the bank and get a loan" scenario being that the business is brand new. My hope is to secure a loan to pay for startup costs and equipment, plus maybe a year of operating costs. 500k would be great, 750k better. Thanks!
  7. Can you please pm me info about your rescue? I'm looking possibly at the end of the summer to adopt. Need to fence in the yard first! Thanks.
  8. Just so everyone knows what my credentials are, I am a licensed mortgage loan originator in the business over 13 years. I've seen a lot of credit reports and am happy to advise. Disclaimer being that your credit is your own and I cannot take responsibility for the actions you take regarding your credit report. Ok now I feel better.
  9. It sounds like the credit report is actually correct in this case. The credit card did go to collections and that's how it shows up, right? You won't be able to change how that credit card status reads. Just make sure a zero balance is reflected even if it does say "sent to collections". The collection agency not showing up on 2 of 3 bureaus is a blessing. What I would do is just make sure that the 3rd bureau that IS reporting the collection account correctly shows a zero balance since the debt is paid in full. Often times collection companies do not update the reporting after they get paid (it's an extra step and what do they care if they already got paid, right?). If it's still showing a balance you'll want to submit a dispute directly to the bureau with evidence of your payment. A receipt from the collection agency would do the trick. Beyond that, the #1 thing that will heal that credit report is just time (and good management of credit from here on out of course). I hope this helps! Feel free to PM me if you have any other questions.
  10. Yes unless the attorney has a copy of them. If not it should be easy enough to walk in and request it. If you have any other questions about the credit feel free to PM me.
  11. I deal with credit reports every day. You will not be able to remove the line, as others have said. You do want to make sure the item is correctly showed as "satisfied" though. Get a copy of the court documents (a letter from your attorney usually is not enough - the credit bureaus want the official court paperwork) showing the judgment is satisfied/paid. On your credit report there should be contacts for the three bureaus - Transunion, Experian and Equifax. You'll need to contact them directly for a dispute form and send it in with the supporting court docs. Otherwise if everything else on the credit is good to go, it will simply take time for the score to go up. Some items to consider that affect the credit score are number of open and active accounts as well as credit balances compared to the credit limits (as a percentage). Try not to go over 30% of the limit with your balances. So if you have a credit card with a 1k limit, try and keep the balance on that card under 300.
  12. Those kinds of outfits give the mortgage business a bad name, unfortunately. I've been in the business for almost 14 years now, and can tell you horror stories of clients having been affected by unscrupulous business practices. It's a shame. There are multiple banking violations in the OP's story.
  13. I do a lot of driving for work so I'm sure I'll find myself in that area at some point. Those pictures are insane! Looks very comprehensive.
  14. Thank you sincerely. Going to have to take a trip!
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