dearJulius.com

Need startup money? Here are 6 ways to fund your small business


By Steve Strauss, USA TODAY

Question: Hey Steve – I am fairly new to business. I started on a shoestring but now I could use some money – for marketing, operations, and so on. But I hear that banks really don’t lend to new businesses like mine, so what does a guy like me do? – Markus 

Answer: In my book, "The Small Business Bible," I have a whole section devoted to unexpected funding options where entrepreneurs can find the money that they need. The good news is that there are actually quite a few possibilities. 

Here are six of my favorites: 


1. Business plan competitions

Example: Entries just closed for the New York Public Library business plan competition where NYC residents can win up to $15,000, free. Business plan competitions like this one happen all over the country because cities and organizations want to encourage startups, and reap the benefits of having an entrepreneurial economy. 

Google “business plan competition” and the name of your city. Regions all over the country are looking to create jobs and attract talent by hosting such competitions.  


2. Factoring

Do you have accounts receivables that pay slow? A company called a “factor” will buy them from you (for a discount of course), but still, it’s money today. 


3. Microfinancing

Maybe you don’t need six or seven figures in funding, maybe you could use $10k, or even much less. Or maybe you don’t qualify for much funding. Fear not, microfinance is here to help. Groups like Kiva offer smaller loans. The Small Business Administration does too; its limit is $50,000. Other microfinance options are typically smaller and include:




4. Crowdfunding

Sites like Kickstarter get a lot of press for good reason – they have opened up a whole new way of funding businesses that heretofore was nonexistent.  

Traditionally, businesses were funded either through ‘debt financing’ or ‘equity financing.’ Debt financing is what it sounds like – the business takes on debt to finance the business. It could be an advance from Uncle Joe or a traditional bank loan or an SBA loan, but whatever the case, the result is the same: You take on debt to finance growth. 

The other option was equity financing. Here, you sell a share of the venture to fund the business. This is what you see on "Shark Tank."

Crowdfunding upended this traditional model. With crowdfunding, people invest in your business in exchange for some benefit. For example, your online jewelry store might create a special edition necklace for someone who invested in your Kickstarter project. No debt taken on, no equity sold. (Note: There is also something called equity crowdfunding, but that’s more complicated and a story for a different day) 


5. SBA loans

The Small Business Administration doesn’t make loans, but it does guarantee certain loans, and guess what? When an arm of the federal government like the SBA is willing to guarantee your loan, your chances of getting approved go way up. You can research SBA lenders here


6. Traditional lending

I list traditional bank loans here as an unexpected source of funding because of this breaking news headline:  

Banks want to lend to you.  

Lending is their business. What they want in return are assurances that a loan to you will be safe; that it will be repaid in full and on time. Your job therefore is to make their job easy. You can do that by meeting with a banker early in the process and creating a loan application that fits their criteria. 

So, as you can see, there really are a lot of options available to you today. What was it Jerry Maguire said? Right.

Show me the money!

COMMENTS




Made with in NYC
Name

4th of July,7,Abu Dhabi,2,Accessories,234,Acne,13,Adventure,32,Adventure Travel,638,Advice,255,Africa,26,African Food,2,AIDS,1,Air Travel,150,Alabama,5,Alaska,20,Alberta,1,Alcohol,4,All About Beer,1,All About Wine,2,Alternative Treatments,4,America,77,American Food,5,Amsterdam,2,Android,11,Anguilla,3,Animal,367,Animal Health,1,Animals,103,Anniversary,1,Anniversary Cake,11,Antarctica,7,Anti-aging,49,Antigua,3,Appetizers & Snacks,2,Apple,11,Apps,16,Argentina,15,Arizona,19,Arkansas,2,Armenia,1,Asia Travel,47,Asian Food,7,Asthma,4,Athens,3,Austin,8,Australia,92,Australian Food,1,Austria,13,Autism,1,Auto Insurance,1,Auto Show,52,Autos,298,Azerbaijan,1,Baby Shower Cake,29,Back Pain,25,Bags,10,Bahamas,13,Balance Work & Life,50,Banana Cakes,2,Bangladesh,8,Barn Finds,1,Bathroom,43,Be a Better Manager,33,Beach Travel,58,Beaded Dress,2,Beards and Shaving,29,Beauty,1888,Beauty & Style,35,Beef Recipes,7,Belarus,1,Belgium,9,Belize,15,Bermuda,5,Best Products,17,Better Partner,7,Beverages,3,Bhutan,9,Bills to Pay,35,Birds,4,Birth Control,1,Birthday Cake,109,Blue Lagoon,2,Blueberry Cake,11,Bolivia,3,Books,1,Botswana,3,Brazil,38,Bread,11,Breads,1,Break Room,12,Breakfast & Brunch,6,Breakup,5,Breakups,3,breast,1,Breasts,69,Broken Hearts,1,Brownie,8,Brunei,1,Budget Travel,97,Bundt Cake,30,Business Skills,102,Butter Cake,52,Buying,1,By Region,3,Cake Decorating,113,Cakes,54,California,109,Cambodia,4,Camera,6,Canada,80,Cancer,73,Car Shows,1,Car Tech,2,Caramel Cake,5,Career,164,Career Advice,298,Career Choice,125,Career Growth,180,Career Paths,24,Career Problem,8,Caribbean,45,Caribbean & Mexico,5,Carrot Cake,22,Cats,49,Celebrity,17,Celebrity Dress,2,Celebs,1,Ceremonial Cake,9,Certified Pre-Owned Vehicles,1,Cheese Recipes,4,Cheesecakes,251,Chicago,7,Chicago Auto Show,2,Chicken Recipes,14,Chiffon Cake,5,Children's Health,21,Chile,7,China,21,Chocolate Cake,395,Christmas,35,Christmas Cake,23,Christmas Travel,14,Classic Cars,39,Cleaning Tips,144,Clinical Practice,1,Clothes,1,Cocktail Recipes,2,Coconut Cake,21,Coffee,1,Coffee Cake,15,Coliseum,1,Colombia,18,Colorado,32,Columbia,3,Companies,2,Compassion,1,Computing,16,Connecticut,4,Consumer Electronics Show,5,Cookies,10,Cooking,8,Corporate Travel,2,Costa Rica,13,Country Travel,249,Creative,309,Creative Idea,22,Creative Ideas,37,Croatia,15,Cruiser Travel,16,Cuba,18,Cultural Travel,66,Cupcake,322,Customs & Classics,2,Czech Republic,6,D.C.,2,Dandruff,1,Dating,8,Dating Advice,31,Dating Advice for Women,1,Dating Tips,4,Decor,23,Decorating Ideas,181,Delaware,1,Demotivational,636,Denmark,12,Dental Health,26,Dentistry,1,Depression,24,Desert Travel,1,Desserts,3,Detroit Auto Show,4,Diabetes,25,Diet,131,Dining Out,3,Dinner,14,Disease,116,Divorce,12,DIY,112,DIY Fashion,34,Dogs,156,Doughnuts,5,Dress,29,Drink,27,Drinks,1,Drinks & Cocktails,4,Driving,3,Drugs,3,Dubai,15,Ears,2,East Africa,4,Easter,1,Easter Island,1,Easter Travel,1,Eco Travel,18,Ecuador,7,Education,87,Eggs,3,Egypt,4,Electronics,4,Electronics and Gadgets,2,Emirates,1,England,13,Entertainment,148,Enthusiasts,131,Entrepreneurship,40,Estonia,2,Eswatini,1,Ethiopia,2,Europe,110,European Food,8,Exercises,51,Eye,300,Eye Health,28,Eyebrow,56,Eyelash,20,Face,54,Facts,284,Fall Travel,43,Family,16,Family Travel,128,Faroe Island,1,Fashion,395,Fashion for Kids,2,Fashion for Man,12,Fashion for Woman,31,Fat Loss,91,Father's Day Cake,4,Father's Day Travel,1,Featured,212,Features,1913,Fertility,2,Festival Travel,25,Fiji,6,Finance,12,Finland,16,Fish & Seafood,13,Fitness,1177,Fitness & Exercise,219,Florida,69,Food,168,Food and Drink,14,Food Recipes,7,France,37,Frankfurt Motor Show,2,Free Travel,3,French,6,French Polynesia,5,Friendship,17,Fruit & Veggie Recipes,8,Fruitcake,70,Fruits,4,Fuel Economy,1,Fun,42,Funny,546,Gadgets,31,Galapagos,3,Games,12,Garden,24,Gardening,276,Gearheads,1,General,7,Geneva Motor Show,3,Georgia,14,Germany,18,Get Healthy,63,Ghana,2,Google,15,Graduation Cake,2,Gratitude,1,Greece,37,Green Living,5,Greenland,1,Grooming,89,Guatemala,2,Hair,1264,Hair Care,317,Hair Color,299,Hairstyle,65,Hairstyles,855,Halloween,41,Halloween Cake,12,Halloween Travel,9,Happiness,16,Hawaii,53,Hayden Panettiere,1,Headache,22,Health,847,Health & Fitness,300,Health Care,491,Health Insurance,1,Healthcare Tech,6,Healthy,12,Healthy Drinks,31,Healthy Eating,186,Healthy Habits,159,Healthy Living,345,Hearing,1,Hiking Travel,63,HIV/AIDS,4,Holiday Travel,28,Holland,1,home,31,Home & Garden,205,Home and Decor,483,Honeymoon Travel,128,Hong Kong,13,Horoscope,31,Hot Rod Power Tour,1,Hotels,71,Housekeeper,8,Hungary,3,Ice cream Cake,21,Iceland,41,Idaho,4,Ideas,11,Illinois,13,Imports,1,Impress a Girl,3,Impress Women,4,Independence Day Travel,1,India,36,Indiana,5,Indonesia,13,Indoor Gardening,69,Industry,5,Inspiration,58,Insurance,5,Internet,19,Internship,8,Interview Skills,37,Investing,12,iPad,2,iPhone,6,Iraq,1,Ireland,36,Island,60,islands,2,Israel,9,Italy,56,Jamaica,8,Japan,44,Jewelry,13,Job Search,47,Jordan,6,Just For Fun,2,Kansas,6,Kentucky,2,Kenya,2,Kids,1,Kids & Pets,10,Kitchen,67,Koala,1,Korea,2,Kyrgyzstan,1,Lamb,2,Laptops,4,Latin America,3,Latin American Food,1,Latvia,1,Laundry,6,Layer Cake,95,Leadership,44,Legs,1,Lemon Cake,18,Life,1,Life Hacks,273,LifeStyle,898,Lips,134,Lithuania,2,London,24,Long Distance Relationship,1,Los Angeles Auto Show,14,Louisiana,9,Love,80,Lowa,4,Lunch,5,Luxembourg,1,Luxury Travel,35,Maine,6,Maintenance,3,Makeup,608,Makeup & Beauty,11,Makeup Tips,77,Malaysia,1,Maldives,15,Malta,2,Mango Cake,3,Manicure,10,Marketing,10,Markets,11,Marriage,81,Marshmallow,3,Maryland,6,Massachusetts,9,Massage,5,Mauritius,6,Meditation,35,Men & Women,18,Men's Health,14,Menstruation,21,Mental Health,302,Mexico,74,Miami,13,Michigan,5,Microsoft,6,Middle Eastern Food,2,Mind,3,Mississippi,2,Missouri,7,Mobile,22,Moldova,1,Monaco,1,Money & Career,21,Monkey,1,Montana,12,Morocco,20,Mother's Day Travel,1,Motherhood,16,Motivation,2,Motorcycles,106,Motorsports,2,Mousse,2,Muffins,9,Mug Cake,14,Multiple Sclerosis,1,Muscle Cars,4,Muscle Cars & Hot Rods,3,Muscle Gain,2,Myanmar,9,Nail Art,195,Nails,252,Namibia,4,Nature,4,Nature Travel,102,Nepal,6,Netherlands,11,Nevada,23,Nevis,1,New Bikes,2,New Car Deals,1,New England,5,New Jersey,2,New Mexico,6,New Year Fashion,6,New Year's Day Travel,6,New York,55,New York Auto Show,3,New York City,20,New Zealand,47,Newfoundland,1,Newlyweds,1,News,334,Nicaragua,2,North America,11,North Carolina,6,North Dakota,1,North Ireland,1,Northern Ireland,1,Norway,20,Nutrition,447,Occasional Travel,9,Oceania,1,Offbeat,649,Ohio,6,Oman,5,Online Date Tips,1,Operating Systems,2,Oral,4,Oregon,10,outdoor,3,Outfits,166,Ownership,61,Pain,24,Painting,16,Pakistan,2,Panama,5,Pancake,19,Panda,1,Panna Cotta,3,Paraguay,1,Parenting,370,Paris,23,Paris Motor Show,4,Pasta,2,Pastry,7,Pebble Beach Concours d'Elegance,2,Pedicure,4,Penguin,4,Pennsylvania,10,People & Places,88,Perfumes,14,Personal Finance,164,Peru,21,Pets,172,Phoenix,1,Photo Feature,1,Pie,27,Pimple,3,Plum Cake,1,Poke Cake,10,Poland,3,Popular Ingredients,26,Pork Recipes,7,Portable Media,14,Portugal,21,Pound Cake,55,Prague,1,Pregnancy,112,Premium,1,Printer,2,Protein Bars,1,Psychology,1,Pudding,9,Puerto Rico,7,Pumpkin Cake,45,Qatar,6,Quick & Easy Recipes,11,Real Estate,72,Recalls,4,Recipe,1098,Recipes,52,Recipes & Meal Ideas,3,Recipes By Course,5,Relationship,137,Relationship Advice,70,Relationship Advice for Men,1,Relationship Advice for Women,5,Relationship Problems,23,Relationship Secrets,6,Relationships,53,Research,94,Resort,11,Restaurants & News,13,Resume,11,Retirement,10,Reviews,1,Rhode Island,2,River Travel,2,Road Trips,49,Romania,4,Romantic Getaways,15,Rome,5,Russia,16,Safety,5,Saint Lucia,1,Saint Patrick's Day Travel,1,Salad,6,San Miguel de Allende,1,Science & Tech,66,Scotland,10,Seasonal,56,Seasonal Travel,59,Security,9,Self Help,14,Self-Care,3,SEMA Show,5,Sex,7,Sexual Health,19,Shanghai Auto Show,7,Shaving,1,Sheet Cake,20,Shirt,4,Shoes,29,Shopping,10,Shots & Shooters,1,Side Dishes,4,Sightseeing Tours,2,Singapore,18,Ski Resorts,10,Skin,429,Skin Caare,1,Skin Care,609,Sleep,62,Slovenia,6,Small Business,163,Smartphone,28,Smile,1,Smoothies & Juices,3,Snacks,1,Social Media,44,Solo Travel,24,Solomon Islands,1,Somoa,1,Soth Africa,1,South Africa,14,South America,3,South Carolina,4,South Dakota,5,South Korea,3,South Pacific,2,Space Travel,14,Spain,33,Special,30,Special Cake,579,Special Feature,113,Special Features,448,Sponge Cake,15,Sports,22,Sports and Exotics,4,Sports Cars,8,Spring Travel,23,Squirrel,1,Sri Lanka,6,Strawberry Cake,22,Street Fashion,8,Stress Relief,35,Stroke,2,Student Travel,1,Style Guide,25,Summer Travel,53,Summer Vacation,8,Supercars,10,Sweden,19,Swiss Alps,1,Switzerland,20,Tahiti,1,Taiwan,3,Tanzania,1,Tarts,12,Tattoos,81,Taxes,7,Teas,2,Tech,89,Tech Advice,12,Tech Education,7,Tech Hacks,19,Tech Updates,2,Technology,13,Teen Advice,1,Teeth,5,Tennessee,6,Texas,57,Thailand,31,Thanksgiving Cake,4,Thanksgiving Travel,5,Therapy,3,Things to Do,165,Tibet,2,Tips,259,Tips & Tricks,6,Tokyo Motor Show,2,Tools & Skills,16,Top Stocks,1,Top Stories,1,Traditional Cake,4,Train Travel,23,Training,1,Transportation,22,Travel,223,Travel Advice,64,Travel Apps,1,Travel Guide,40,Travel Tips,149,Trends,7,Trucks,1,True Health,5,Tunisia,2,Turkey,10,Turkish,1,Tuscany,1,TV,2,UAE,10,UK,40,Ukrine,1,Understanding Women,9,Urban Travel,47,Uruguary,1,USA,629,Utah,12,Uzbekistan,1,Vacation Travel,245,Valentine's Day Cake,7,Valentine's Day Travel,1,Vanilla Cake,17,Vegetables,3,Vehicle Travel,2,Venezuela,1,Vermont,4,Victoria Falls,1,Video,5,Vietnam,5,Virginia,5,Waffles,3,Washington,15,Washington DC,20,Waxing,19,Web & Social,17,Wedding,73,Wedding Cake,549,Wedding Dress,30,Weddings,39,Weddings Travel,4,wei,1,Weight Gain,29,Weight Loss,755,Weird,172,Wellness,193,West Indies,2,Wi-Fi,2,Wildlife Travel,13,Winter Travel,56,Wisconsin,5,Women Lifestyle,23,Women's,122,Women's Health,173,Work Environment,77,Workout,8,Workouts,81,Worldwide,155,Wyoming,2,xxx,1,Yemen,1,Yoga,85,YouTube,3,Zadar,2,Zambia,3,Zimbabwe,4,
ltr
item
News: Need startup money? Here are 6 ways to fund your small business
Need startup money? Here are 6 ways to fund your small business
https://3.bp.blogspot.com/--O2yADpI4xs/XLWTS7wmI_I/AAAAAAAAdGc/sLJSDgfM-cYIHqrrz7hFn-LP-x6fgqEUACLcBGAs/s1600/Need%2Bstartup%2Bmoney%2BHere%2Bare%2B6%2Bways%2Bto%2Bfund%2Byour%2Bsmall%2Bbusiness.jpg
https://3.bp.blogspot.com/--O2yADpI4xs/XLWTS7wmI_I/AAAAAAAAdGc/sLJSDgfM-cYIHqrrz7hFn-LP-x6fgqEUACLcBGAs/s72-c/Need%2Bstartup%2Bmoney%2BHere%2Bare%2B6%2Bways%2Bto%2Bfund%2Byour%2Bsmall%2Bbusiness.jpg
News
https://news.dearjulius.com/2019/04/need-startup-money-here-are-6-ways-to.html
https://news.dearjulius.com/
https://news.dearjulius.com/
https://news.dearjulius.com/2019/04/need-startup-money-here-are-6-ways-to.html
true
637333457269776417
UTF-8
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy