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Small Business Funding: What are Your Options?

Congratulations for coming up with that fabulous small business idea! Now that you have a real business plan in front of you, it is time to execute the idea. For that, you’ll need funding. https://bit.ly/2t3WTvX

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Small Business Funding: What are Your Options?

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  1. Congratulations for coming up with that fabulous small business idea! Now that you have a real business plan in front of you, it is time to execute the idea. For that, you’ll need funding. Maybe you want to open that retail store, or start that e- commerce website, only the adequate funding amount will lift your small business of the off the ground. So, in this post we will discuss about small business funding options, and how you can secure the same for your project. Let’s get going! When it comes to funding, many small business founders think of the traditional financing option via the lending institutions. These are majorly the banks that will

  2. analyze your business project report, your background, and overall feasibility of your small business. It must, however, be noticed that the traditional finance institutions like banks like it much more when you have an already established business with real cash flow. Though, you might get turned down by them if you are just starting out or are new to the business world. What can be better than pitching your idea to an investor for small business capital funding? The recent up-trend of startups has made the angel investors a star overnight. Angel investors will carefully evaluate your business plan and model, evaluate your strengths and weaknesses, and then make an investment decision. Keep in mind that Angel investors will take a considerable amount of equity if they invest in your small business!

  3. Maybe the traditional institution or the angel investor approach did not work for you. It’s okay! You can still get funding from an alternative institution that has different evaluation criterion for your small business. These institutions provide funding to growing small businesses under the Government’s SBA 7(a) and SBA 504 programs. This is by far the best option to get small business funding because of the non-stringent project evaluation, fair reflection on the business, and provision of financial assistance to grow your small business. Other options to get funding include several lines of credit, though; they will be of no use if you have a less than required credit score. Your best bet shall be an alternative funding institution. Power to your business!

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