5 Ways That you Can Fund a Start-Up

Many people have brilliant business ideas and sadly, many of these remain ideas due to a lack of funding. Some might say that funding separates the men from the boys and while on the subject of money, here are a few ways that you can raise the capital to start a small business.

  1. Talk to your bank manager – While this is usually a long and drawn-out process, you might be lucky if you approach your bank manager. He or she would want to review your business plan and would take a few days before giving you a decision, which might not be the answeryou want. Banks are given instructions by central banks about lending; sometimes
  2. Online commercial lender – The online lender offers low doc business loans to entrepreneurs and in most cases, loan approval is received within minutes rather than weeks. This is by far the best way to finance a start-up and with super-fast approval, the funds will be in your account on the same day as you make the loan application.
  3. Online business finding platforms – Platforms such as ‘gofundme’ offer an opportunity to present your business concept to potential investors; you need to put a lot of time and energy into creating a digital presentation. If you reach your target amount, you can go ahead and launch; you do not owe anyone anything.
  4. Find a financial partner – You have the know-how, all you need to do is connect with a private investor and make an attractive investment proposition that gives you the necessary funding without losing control of the business. There are investors that are looking for high-return business investment opportunities, all you have to do is find them and pitch your proposal. Many successful companies began with one person joining up with a private investor and who knows, it might work for you too!
  5. Liquidate home equity – If you have some equity in your home, you can refinance and release that money. Talk to a mortgage broker and they can facilitate the process, which enables you to go ahead and make your dreams come true.

Once your business plan is complete, you will know exactly how much you need to get the enterprise off the ground and to keep it afloat for at least one year. It can feel like an uphill battle when you apply for a loan and are refused; there are online lenders of unsecured business start-up loans and even accept those with a poor credit score.

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