5 Ways to Get Money to Start Your Business
I am going to teach you some sources for money during these times where it is more difficult to get a business loan than it has ever been. During these times when it's difficult to get a traditional loan from a bank, there are ways to find money to fund your business.
I created a list of 5 primary funding sources to help you get started.
1) Obtain Venture Capital – There are many people in the marketplace today that have money to lend. It is probably their requirements are more stringent than in the past, however, with a good business plan this money is available to anyone.
2) Get money from a community lending source such as Prosper.com or LendingClub.com. These lending sources give you immediate funding provided by a group of investors seeking for a return on their investment.
3) Establish a strong credit profile through a source like Corporate Credit Concepts that can teach you a process to establish strong business credit.
4) Work with a company to establish your Paydex score like Seed Capital who guarantees at least $ 50k if you have a 720 credit score or above.
5) Transfer the funds in your 401k into a Self-Directed IRA. This will allow you to invest your saved funds in your business.
These are some ideas to help you get started. Best results can often be achieved by using a combination of the above strategies.
Most business owners use their own funds to get their business up and running. What approach you take will be determined by your own credit history and available funds. Regardless, companies like Corporate Credit Concepts claim to be able to get you money without any relevance to your personal credit history.