4 of 12
Michael Downey - Rejected, but bouncing back
Owner, Cypress Construction Services
Santa Cruz, Calif.

My construction company has grown from a one-man show to 14 employees, grossing $1 million annually. Last year, the phone stopped ringing - nothing was coming in. I tried bank loans but got nothing.

Then I tried the "receivables loan" people, who promised a great package that would just skim off my credit card sales for repayment. After 2 months of endless document requests, phone calls and e-mails, I was turned down by all of them. The reason? Too much fluctuation in my credit card receivables. One month, $20,000. The next, $2,000. They want a business like a restaurant that has very little fluctuation in their credit card receipts.

As a footnote, we've had the best year ever in 2008, and, knock on wood, have had no need to be soliciting loans.

NEXT: Gary Golden- Foresight kept us above water

LAST UPDATE: Oct 04 2008 | 2:03 PM ET
Sponsored by
More Galleries
A sampling of beers being made with traditional Latin flavors A small but growing number of craft breweries are including passion fruit, Mexican cinnamon and other traditional Latin flavors. More
Banks won't lend? Use these guys instead Banks often have exhaustive approval processes, high minimums, and flawless credit requirements. But there's a wealth of non-bank alternatives for those who need capital fast. Here are some of the leaders. More
Facebook launched my startup These entrepreneurs relied exclusively on Facebook, Twitter and Instagram to jumpstart their small businesses. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.