I started a business focused on helping people who have gone thru foreclosure. I want to help those who need help most. I have worked in operational efficiency and process optimization for organizations large and small for over 15 years, saving companies millions of dollars in the process. But, that work doesn’t provide me with the sense of value and reward that helping people who are struggling does. And, I wanted work that was more “recession-proof” in this economy than the contractor work I’ve relied on in the past.
Surplus funds, also known as “overage,” occurs when a property sells for more than what was owed at a foreclosure sale. These funds are typically owed to the previous property owner, the party foreclosed on. Each county is responsible for handling the processing of such claims, and there is no automatic process in place to help families who have lost their homes file them. Families who have undergone a foreclosure are often stressed to a point that they don’t even know whether their foreclosure sale resulted in overage. My goal is to educate those affected by the foreclosure process and to help them get back on their feet. My business investigates and processes overage claims at no cost unless we are successful, so the process is risk free.
Success of the business is dependent on identifying prospective clients early on and making contact with the appropriate parties. I need to hire additional staff to source leads, as well as cover ongoing operational costs, including paying existing staff, investigative, and legal fees.
I currently have 1 part-time employee who is stretched too thin. I also had to accept a lower paying contract position shortly after setting up the business, and was out of work for over 1 month during the transition. As a result, I have run out of personal funds, and need additional capital to get the business off the ground.
I need $7500 to operate the business for 90 more days:
Employee cost: $3000
software & tech ops: $750
Document/Legal fees: $1050
Training Cost: $2700