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WE RECOMMEND
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General
Business
- funding options -
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related
books
from
Amazon.com |
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Resources,
information and helpful links
which apply to
business start-up, as
well as everyday operation.
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Tips
For Finding Funding:
Funding
Options
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- Assess the
financial needs of your startup business.
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- Calculate
the financial resources you personally can
contribute.
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- Prepare
financial statements.
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- Contact
professional resources who can serve as
references.
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- Consider
bringing in a partner with complementary talents
and money to invest.
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- Work out
barter arrangements, if possible, with any
suppliers.
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- Consider
what possible collateral might be possible for a
loan, including unpaid accounts payable.
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- Look for
any business incubators in your area which might
be interested in investing in your business.
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- Investigate
strategic partnering opportunities where a
successful firm in a complementary business
would be interested in investing in a startup
that would be a business partner.
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- Apply for
guaranteed loan through the Small Business
Administration.
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- Cost cut
every way possible, except on the quality of
your product.
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- Ask
friends and family to invest, giving them a
written agreement on repayment.
Tips:
- Almost
anyone lending money will want to know how much
you have contributed. They don't want to take a
risk on you if you aren't willing to risk your
own money.
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- Learn the
business terminology of the financial world. Not
only does it help with understanding your
options, but it impresses lenders.
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- The Small
Business Administration has a large variety of
financing options for startups available.
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