Where do start ups go for funding?
psnyder subscriber Posts: 1 Member
I am a business loan consultant and people contact me on a daily basis wanting a loan for a business that does not meet our sales volume requirements. Is there any place that I can refer them to? I do not like turning them down and would like to help them if I can. Any advice is greatly appreciated.
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This way atleast they'll save on the interest rates over here!
1. Crowd-funding: Crowd-funding is one of the most popular options when it comes to financing any particular start-up. All an entrepreneur has to do is put forth his/her potential business plan on the crowd-funding platform. Over there, investors can see the future goals of the company, strategies, etc., and if they see a potential for profit, they can decide to fund the start-up
2.Funding by venture capitals: Venture capitals are professionally managed funds that are directed at companies with high potentials. In a way, venture capitalists act as mentors to young entrepreneurs and provide technical as well as managerial skill, apart from providing financial support
3) Business loans: In the case of small-scale start-ups that do not require massive fundings, an entrepreneur can avail a business loan. This business loan is in the form of an unsecured personal loan that an entrepreneur with limited resources can take without having to mortgage any collateral against it. There are several banks as well as other financial institutes that provide such business loans for budding entrepreneurs.
4) Government programmes: Government all across the world have funding programmes for emerging start-ups within the region. This is especially true for developing nations like India, China, Africa, etc. For instance, in India, the Pradhan Mantri Micro Units Development and Refinance Agency Limited (MUDRA) plans to benefit a total of 200 SMEs within the next five years. Such programmes are great opportunities for start-ups to source funding and improve their existing infrastructure.
i am also looking for answer of the same question
I have used crunch base for reaching out to investor for my business they have huge data base.
I am privately looking for intending loan seekers looking for startups, agents and management experts who will be willing to act as investment portfolio holders and administrators. I can also invest in project. I wish to re-invest this fund by putting it into the management of private businessmen and corporations with good business ideas that can generate at least 9% ROI per annum over maximum of 5 years duration. The fund will be disbursed based on a clear loan of 4.5% interest rate per annum for 5 years renewable tenure. All sign-up contracts, briefings and investment portfolio management files will be handled in a designated venue. For further details contact me directly at [email protected]
If you can't fund your business on your own, try getting a loan or line of credit from your local bank. You could always ask your friends and family for help. Venture capitalists, angel investors, strategic partners, and crowdfunding platforms are also great options to consider.
I am really liking this thread! Thanks a lot.
I have asked financial experts at Fit My Money blog, for some insights on the matter and they said that most small businesses vanish in the first year because they lack financing. Financial experts also claim that personal loans are the most common go-to solution for starting small businessmen and entrepreneurs of all kinds. If you want to build a lucrative business, you have to think the financial aspect through because you’ll need money for equipment and to pay the workers. And a personal loan has proved to be a good tool for those expenditure items.
The mistake that most business owners make is that, they try to get a single business loan to finance all their business operation.
Yes, this works sometimes, but not so effective!
Plus, there's the possibility of you getting turned down again, and again, and again by lenders!
The best solution for startups is to get business loans to finance different aspects of their business.
For example, you can choose to get an equipment loan to finance only equipment purchase for the business. And by equipment I mean, fax machines, printers, heavy duty trucks, vehicles, machinery and so on.
And the best part of this is that the equipment which the loan was taken to purchase is what is used as the collateral for the loan. Therefore, there's no future risk of debt imposed on the small business owner.
IN FACT: Some equipment loans last up 10 years, which gives the business owner enough time to pay back the debt.
It doesn't just stop at EQUIPMENT FINANCING.
You can also take up loans to finance your business working capital, get financing on slow-paying invoices, and so on!
And with the latest PPP and EIDL programs by the United States government under the SBA,you can even get lenders to forgive you of your loan debt.