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Your best bet is to read some of the links I have included, they have good info on how to go about raising capital for a business. The hardest money to get for a start-up is a loan from a bank - usually they want a 2 year history minimum - the saying goes that banks lend you money when you least need it. Going through the SBA (Small Business Administration) is the best way, but usually they require you to have 20% of the total money needed and the bank would put up the 80% - they believe that if you are willing to risk your money, then why should they risk theirs. Savings, Friends and family are the first step. Credit cards are your last resort. Your personal credit will come into play but does not automatically qualify or disqualify you, just be prepared to answer some questions. You are more likely to get a loan to purchase an existing business than to start one so you should consider looking at businesses for sale in the field you were looking to start yours - benefits include established customer base, possible owner financing, even partial helps and even existing banking relationships. Make sure it is around for more than 2 years, that will help with your loan. Good luck

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www ... www ... - Raising startup capital entrepreneur ...

by David M

2 years ago

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by Stacy D- 2 years ago