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    I would say that at the moment banks are the ones that can give you the best amount of money that you need to start your business. I also think banks are much safer since you will be protected not to be harassed during the paying of the loans.


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    Starting a new business and obtaining capital can be very challenging for new business owners. Your best option is to obtain a start up loan from a hard money lender, you do have to have a good credit score to qualify for these type of loans.


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    Dont take the whole amount as a lon though, I really think its smarter to save up some!


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    Okay, I'll give you some ideas on how you can finance your business:

    1. Your assets - This is perhaps the most reliable way in financing your business. I'm not only talking about "money" when I say assets. I mean everything you own that brings you money is your asset. So if you have assets, that could mean a good opportunity for you.

    2. Angel Investors - These are the types of people who have the capacity to fuel a certain business that has a good potential. Most of the time, they are also big time businessmen or investors or capitalists who hunt for potential businesses that they can fund. They don't offer loan. It's some sort of share buying. The only disadvantage in getting an angel investor is that they usually get the large chunk of your business' profit.

    3. Credit Cards - This is one of the most common ways in funding your business. Though you have to be careful because you might lose your business if you don't pay the your loan due to very high interest rates that credit cards require.

    4. Bank Loans - Again the most common way in funding a business. But you might also lose your business in failing to pay the loan.

    5. Micro Loans - This is one of the best ways to lend money especially if you are running a small business in your country. Micro loans allows small business owners to lend money for their business. The interest varies on how big the loan is and the duration of payment.

    So there you go. By the way, you can also borrow money from your friends and families.


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    Basics International - Internal Audit and Data Analytics
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    Finance is one of the most important factor for starting up a business. For this you can apply for a loan near your local bank and other small business lending sources. You can ask to friends, relatives to help you financially. Even you can get money from your own by selling high price item that you donít need.


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    I have access to multiple lenders and lending stuctures. My e-mail is maymortgageandfinancial@aol.com or call 803-807-6646.


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    #17
    Join Date
    Sep 2014
    Location
    USA, illinois, Chicafo
    Posts
    23
    By applying some tips to finance your business would be great for your business, I think it would help you in a great way to finance your business in proper way and management. This techniques are:-
    Get loan from bank
    Use a credit card
    Start saving funds that is useful for your business startup
    You can also try crowd funding
    Attract to an angel investor
    Secure your SBA loan
    You can also raise money with the help of your family and family.


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    You should definitely save your money - but use it as a basis for obtaining the funds you need either through a bank or investor because both will require that you have your own funds to bring to the table. If you invest all your savings and then run into a problem financially - you will be tapped out and no one will give you money if you have spent all you have.

    In my opinion, I would not invest all my money because unforeseen issues can creep in and then you are stuck. Most business fail because of poor cash flow - so you always want to have a cushion.

    Hope this helps.


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    #19
    Join Date
    Sep 2014
    Location
    USA, Colorado Denver
    Posts
    40
    Quote Originally Posted by Taru View Post
    In my opinion, it's best to save up and get the business started and then just go to the bank for a loan when you can prove that the system is working, as I think it just makes everyone a lot more comfortable with the situation and also it lessens the risk for both sides. However, if it would take you a long time to save, then I don't see why you shouldn't start off with a loan from either an independent source or a bank, as long as you have a good and solid plan that you are confident in enough to make promises of future profit.
    I totally agree with you first start the business from your saving and then go to the bank for a loan. It would secure to get loan from bank then any independent lenders.


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    Save Up. Banks do not like to invest in "dream". They also like collateral. They also like to see you put some of your own "skin" (money) into the game


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    Schultz & Associates, CPA[/URL]
    Plymouth, Michigan
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