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Secret To My Financing

Entrepreneurs share how they got their start-up funds

This story appears in the May 2000 issue of Entrepreneur. Subscribe »

For most people, one of the most challenging parts of starting a is funding it. Chances are, you'll demonstrate some of your best creativity and perseverance as you assemble your start-up capital. But remember, you won't be the first--or the last--person to struggle with this issue. Take heart and ideas from successful business owners who've been where you are.

Have good credit. In 1993, Eric J. Ruff, 42, started PowerQuest Corp. in Orem, Utah, with a few thousand dollars in personal savings and a $50,000 consulting contract. But because it took the young software developer two years to get his first product out, those start-up resources didn't last long. With no product, and therefore no income to repay a loan, he wasn't a prime candidate to commercial lenders.

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