questionswhere to find angel investors for a small…

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The Three F's have always been the vast majority of funding sources for start-ups.
Family
Friends
Fools

Whether or not you are doing this with a formal business plan, your best bet is to exhaust any and all of your contacts that fit into those three categories.
Beyond them, you will almost always need a formal business plan to be able to secure any capital. If you don't have any experience with business plans and whatnot, I'd be happy to help through general advice and or critique :)

Best of luck! Starting your own business is very exciting!

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I almost invested in a friend's small business. He had a sound business plan but I wasn't comfortable with one aspect of it and that was his ability to sell his capital after 5 years for about 95% of what he paid for it. I felt it unreasonable that someone would want depreciated capital for such a high cost.

Turns out my concerns was right. The startup capital was around $200,000 but when it came time to sell it for an updated product, the item was worth less than $125,000 and that was less than 5 years. I am so glad that I did not invest because everyone lost money in that deal.

Be very careful out there. If it looks too good to be true, it probably is. It's not easy to make money out in the real world with all the competition. So as for me, I'm making much less working for someone else but I don't have to worry about going on that roller coaster ride seeing my income rise and fall like the sun and moon every day.

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And by the way, here's the government's link to their Small Business Administration area of their website:

http://www.sba.gov/content/sba-loans

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Did you try @snapster? I hear he has some dough. And probably has some time on his hands to advise you.

And on down time you could have screaming monkey fights in the office, too.

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I know here in New Mexico there is an angel investing organization: http://www.nmangels.com/
It says they serve New Mexico and "the southwest" so depending on your location you could try them. Also, I would imagine there are some of these regional things all around the country you could probably find googling (or yahooing if you're into that sort of thing).

Depending on your business, have you thought about Kickstarter? I know a craft brewery opened here completely funded by kickstarter, so it's not just for products/inventions. Might be something to consider, depending on your industry.

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I know where I am we have a county wide economic development office that has people you can talk to who sometimes have really good contacts in the area. They can also help you find local and state grants to develop your business.

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Try Kickstarter. Or if you are a girl, try one of those sugar-daddy finder websites! (Ok, that may or may not be totally a joke on the last one)

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Per what dmaz wrote, in order of who to get to invest:
Friends & Family
Pros: more willing to invest on knowing you and less on the business plan. They won't take as much of equity for the money.
Cons: You're playing with their money so they may not be the silent investors you want and if you lose their money, even if not your part, market conditions, etc, they may blame you and that may hurt the relationship.

Angel Investors:
Pros: Can offer guidance, contacts, partnerships. Some may be hands-off and just want updates.
Cons: Will negotiate for a decent equity stake and more equity per dollar than family. May not be silent and some angels turn out to be demons.

Venture Capital:
Pros: Can offer guidance, contacts, partnerships. Very few are hands-off and just want updates.
Cons: Will negotiate for a decent equity stake and more equity per dollar than family or angel investors. Prob won't be silent investors, want people on the board, be decision makers, etc.

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(cont)

Crowdsourcing/Kickstarter isn't meant to be the last resort. If the idea is interesting, novel, etc, you can get investors. This is the "Fools" in dmaz's 3 Fs.

Of course, everyone expects you to have some skin in the game, i.e. put up some money yourself. Sweat equity is a given. They want to see you cash in your IRAs, mortgage the house, etc. They're not getting into bed with someone who won't put a cent into it.

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it intrigues me that you have an idea that involves Brick and Mortar what is said idea ? Presumably if you are looking for investment you have made some reasonable steps towards protecting your idea...

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I forgot to add, angels and VCs likely won't even touch you until you've already gotten the business going and have proven some level of viability. If you're still in the idea or kitchen table phase, you're stuck with friends & family, kick starter and the like.

SBA wants some track record as well. Having an idea isn't enough.

That said, I've seen angels invest on ideas and that's only because they don't know what they're getting into, i.e. guys with money who want to experiment or arrogantly thinking that their success is automatically transferable to other industries.

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@dmaz: This surely is the best answer of them all.

@devexityspace: Having done three tech startups myself, your FIRST resource must be the three F's. These days, it probably should even be your own bank account. Ideas are cheap, execution is expensive. Out of the three, we have only taken a one-time $500k "Bridge Loan" from a VC (this was rare, but it was also a rare circumstance). Two of the three were sold, one flopped.

And if you must get money, I wonder why you would be looking at Angels at all. Angels and VCs money are expensive. Loans, in fact, are cheaper most of the time, unless your business will grow extremely quickly to warrant the cost of the Angels/VCs. $200k is also way too small for most Angels and definitely for VCs anyway. Plus, if you have to ask here to get ideas, you are probably not in a position to do so.

Now go network, raise the money from the F's and go get them. I applaud your effort.

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@lll0228: VC's?

@bund9032: We looked into Kickstarter, but unfortunately it does not permit businesses like mine (only new inventions). My business provides a service.

@flyinggirl: I would definitely be interested in a number or name of that office please :)