Different Types of Business Funding Sources by hkksew3563rd


									?Do you have a dream of running your own business, but can't think of where you'll
get the money? Almost every small business owner faces this problem as they try to
open as store. Finding funding sources is very difficult in these times, especially since
banks are becoming tighter in their lending practices. Here are a few tips that will help
you learn where you can go to get money for your business.

The first place everyone thinks of when searching for funding sources is the bank. Of
course, your local bank may be willing to supply you with money flow, but it usually
denies new business owners looking for a startup loan. This is because you have no
business credit. Before you try going to a bank for money make sure you have good
personal credit, business credit, and an excellent business plan.

Many people also seek investors when starting their businesses. Many investors won't
invest in a new business for the same reasons banks don't, they are just too risky.
However, there are some specific types of companies that are highly sought after by
investors. Angel investors are people who invest in small high tech companies that are
expected to make a lot of profit in a short amount of time, do some research to find
out if you meet these requirements.

Alternative Funding Sources
If you are looking for further sources for funding try getting a business credit card.
Not only is this an easy way to get access to extra money, but it is also a way to build
up your business credit. Don't spend more money on your card then you can afford to
pay off, and make sure that you make payments on time. Approval for a business
credit card can take as little as 48 hours, and it's always handy to have around.

Before you open up it's always a good idea to check in with the Small Business
Administration. The Small Business Administration (SBA) is dedicated to getting
small business owners on their feet and educates them on the most effective
management methods. Certain types of businesses are able to receive grants, and the
SBA helps you get the loans that you have been denied for before.

If you still don't have enough money you can always go to your friends and family for
a startup loan. Always get money agreements down in writing so there are no future
disagreements. You can also try to find an angel investor or go through a bank or
credit union. If you borrow money from a friend you don't have to worry about
getting approved for a loan or putting down a personal guarantee. It's never a good
idea to put use a personal guarantee with your business because you could end up
losing it. If your business fails you could end up losing your house or car and be
worse off than before. If you are having trouble finding business funding sources try
looking online for other ideas.
As the Nations Leading Expert in Business Funding, Pat Gage has created a system
for raising unlimited money for any business. The system is called "10 Steps To
Money?" and has assisted many of his students and himself in raising hundreds of
thousands of dollars for their businesses. Pat is not only a sought after business
funding expert but also a national speaker and frequent radio show guest. For more
information on any topic discussed, visit Pat Gage's site at

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