What are the alternatives in financing a business?
Committing your own funds is often the first financing step. It is certainly the best indicator of how serious you are about your business. Risking your own money gives confidence to others who may invest in your business. You may want to consider family members or a partner for additional financing. Banks are an obvious source of funds. Other loan sources include commercial finance companies, venture-capital firms, and local development companies. Your SBDC can put you in touch with a wide variety of lending opportunities, help you evaluate their risk and opportunity, and work with you to prepare all necessary loan documents.
Committing your own funds is often the first financing step. It is certainly the best indicator of how serious you are about your business. Risking your own money gives confidence for others to invest in your business. You may want to consider family members or a partner for additional financing. Banks are an obvious source of funds. Other loan sources include commercial finance companies, venture capital firms, local development companies and life insurance companies. Trade credit, selling stock and equipment leasing offer alternatives to borrowing.
Committing your own funds is often the first financing step. It is certainly the best indicator of how serious you are about your business. Risking your own money gives confidence for others to invest in your business. You may want to consider family members or a partner for additional financing. Banks are an obvious source of funds. Other loan sources include commercial finance companies, venture capital firms, local development companies and life insurance companies. Trade credit, selling stock and equipment leasing offer alternatives to borrowing. Leasing, for example, can be an advantage because it does not tie up your cash.
Committing your own funds is often the first financing step. It is certainly the best indicator of how serious you are about your business. Risking your own money gives confidence to others who may invest in your business. You may want to consider family members or a partner for additional financing. Banks are an obvious source of funds. Other loan sources include commercial finance companies, venture-capital firms, and local development companies. Your SBDC can put you in touch with a wide variety of lending opportunities, help you evaluate their risk and opportunity, and work with you to prepare all necessary loan documents. NOTE: a list of banks which frequently work with the SBDC/SBA in providing loans to small businesses can be found at your SBDC.
Committing your own funds is often the first financing step; it is also the best indicator of how serious you are about your business. You may want to consider family members or a partner for additional financing. Banks and other financial institutions (finance companies, credit unions or venture capital firms) are the most obvious and common source of financing your business.
