Our yearlong look at an herbal pharmacy's start-up
The rewards of starting a business are many: You can enrich your lifestyle, boost your self-esteem--hey, you're in the driver's seat of that vehicle called destiny. While the highs of entrepreneurship are fulfilling, the realities can prove bewildering. Take the contender for biggest buzz-kill (at least when absent): money. Scott Fiore, 31, saw red a few times en route to finding start-up capital for his Littleton, Colorado, natural pharmacy, The Herbal Remedy. "Finding financing's pretty simple," says Fiore. Unfortunately, getting it isn't as easy.
Fiore's money hunt ensued months before his August 1998 departure from Rosemont Pharmaceutical Corp. in Denver. He initially pitched his business idea to the bank he had his personal accounts with at the time.To his delight, a representative told Fiore his idea looked great and that he could get a loan. To his dismay, the rep tacked on "in a year." After learning his bank doesn't offer initial business loans, Fiore was referred to the SBA--a popular option for new businesses seeking financing.
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