So who can tell me all about business loans for new businesses - what is required, is surety required, how much do they usually lend, etc etc?
Here is the story. I want to start a game development business, and have been working on a game engine, on and off, for the last year. Mostly off in truth.
The problem is, the game requires artwork, modelling and sound work. Some of the modelling I will just use third party stuff bought (not stolen) off the web. The rest I will need custom made. Which leaves me with a problem - custom made 3d models are expensive, and I dont have money, right now, to pay for it.
Anyway, so I'm thinking I should get a business loan to pay for modelling. But my thinking is that the modelling could cost me upwards of R200k. Hence a business loan. Obviously it would be a starter business, and since I would be selling to the public, I would have practically nothing on my books. In other words, I dont know how I would "prove" to the bank that my idea could actually make money.
The other thing is, at the moment, with a full time job, I'm just not finding enough time to spend on the game. Maybe a few hours a week right now. So I want to resign, and live off my pension payout. But this wont be enough to pay for artwork. I would have to resign, work on the game for a while, and then get a loan, and then get the modelling done.
Another option is to partner with someone, and have them do the artwork while I do the programming. Obviously I would have to give them a share of the resulting company, and they would have to buy into my idea.
What do you guys think? Does anyone have advice for me?
Here is the story. I want to start a game development business, and have been working on a game engine, on and off, for the last year. Mostly off in truth.
The problem is, the game requires artwork, modelling and sound work. Some of the modelling I will just use third party stuff bought (not stolen) off the web. The rest I will need custom made. Which leaves me with a problem - custom made 3d models are expensive, and I dont have money, right now, to pay for it.
Anyway, so I'm thinking I should get a business loan to pay for modelling. But my thinking is that the modelling could cost me upwards of R200k. Hence a business loan. Obviously it would be a starter business, and since I would be selling to the public, I would have practically nothing on my books. In other words, I dont know how I would "prove" to the bank that my idea could actually make money.
The other thing is, at the moment, with a full time job, I'm just not finding enough time to spend on the game. Maybe a few hours a week right now. So I want to resign, and live off my pension payout. But this wont be enough to pay for artwork. I would have to resign, work on the game for a while, and then get a loan, and then get the modelling done.
Another option is to partner with someone, and have them do the artwork while I do the programming. Obviously I would have to give them a share of the resulting company, and they would have to buy into my idea.
What do you guys think? Does anyone have advice for me?
