Financing Your Business
There are a multitude of ways to raise money for your business.
When you need start-up capital to launch your dream business, you have many options:
- Tap your own savings.
- Borrow from friends and family.
- Borrow from banks.
- Take out an SBA-guaranteed loan.
- Get help from a finance company.
- Use your suppliers as loan sources.
- Obtain capital from private investors.
- Use your credit cards.
But remember, entrepreneurs may need to tap more than one source when seeking financing for a new venture.
Before asking anyone for money, make a careful assessment of the proposed value of your business, the amount of capital you need, the amount you will have to borrow and the length of time it will take you to pay back the loan.
Excerpted from Starting a Home-based Business
Entrepreneur Editors' Picks
James Dyson Created 5,127 Versions of a Product That Failed Before Finally Succeeding. His Tenacity Reveals a Secret of Entrepreneurship.
7 Meaningful Ways Your Business Can Honor Memorial Day
Breast Implants Left This Founder With Debilitating Symptoms, So She Launched an Intimate-Apparel Line That Goes Beyond Buzzwords
Kids in the Hall's Bruce McCulloch Says TikTok Is the New Punk Rock
'I Am Not a Diversity Quota,' Says the Founder Disrupting the Dessert Category
Memorial Day Is a Time for Remembrance, So What's With All the Mattress Sales?
Pharrell Williams, Contemporary Artist Nina Chanel Abney and Brand-Builder Shaun Neff Announce Launch of Game-Changing NFT Platform