Raising seed money for your small business

You have your business idea, your business plan in tow, your ducks in a row, and you are ready, your business from the ground except for one problem get - you have no starting capital. If you were born into wealth and have at your disposal, you are like most small business and need a helping hand.

How can you raise seed money? There are a few ways to go about it:

Small Business Loans

Many financial institutions offer some kind of smallBusiness loan program. To get financing from a bank for your small business, you need a solid business plan. They have to demonstrate that your company enough money to generate the loan payments. Each bank the requirements are different, but if you are able to articulate how you will succeed, have decent credit and possibly a co-signer, you may be able to secure a small business bank loan.

SBA (Small Business Administration)

The SBA is a great resource thatprovides information on requirements, credit factors, such as apply for loans, etc. The website is a good starting point before you apply for a bank. The better prepared you are, the easier it will be when you start the application.

Family & Friends

Many small businesses raise start-up capital in this way. Family and friends usually want you to succeed and believe in your company. It is advisable to treat these relationships as real business.Plan how you repay their loan, the time frame and at what interest rate.

Angel investors and venture capital firms

Private angel investors and venture capital firms operating primarily in the same way. They invest in the equity of your company, and expect a return in the form of an acquisition, IPO, or shares repurchase in the future.

The key to any of the above methods is to have a written business plan well. A good business plan will prove that you are serious aboutabout your company and you can see the way you plan to demonstrate it successfully.

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