I'm searching for money to finance my startup business, what are my options?

October 13, 2007

Posted by TonyLiu

( 3 ratings )

Congratulations on having what it takes to go out there and start your own business. Good for you. Starting off, do everything you can to finance the business yourself. Even if that means working a FT job while starting your own business on the side until it turns profitable.

Depending on the type of business you are starting, try these non-banking lenders first:

Venture Capital: Venture capitalists raise money from investors in order to fund a portfolio of privately held companies for a profit.

Angels Investors: These are high-net-worth individuals who invest in early-stage companies. They are usually former entrepreneurs who are now looking to invest as well as provide their expertise.

I suggest these non-banking options as commercial loans from banks usually require your business to be in existence for 2+ years.

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