Three Creative Ways to Fund a Business

Finding the Most Creative Business Financing Options.

 

Being creative is the name of the game when you own a small business. If you are a small company you might be the proprietor, marketing  department , salesmen , accountant, cashier and   even the janitor all rolled into one.

 

And each new challenge needs a creative new resolution. Even if you are larger in all likelihood you still have a hand in everything that goes on in the company.

It makes sense then, that you would need to have creative business financing when it come to your business as well.

 

If trimming down costs wasn’t enough, it may be to time to look for some creative business financing from outside sources. Here are a few places you should check .

 

Many companies have borrowed money from family and friends to get them through tough times or off the ground. Family and friends can be an excellent resource, supplying low-cost or even no cost loans. It can also be dangerous for the relationship. Unlike a typical creditor, you will need to spend time with this lender. They may also feel that because they gave you money they have a right to interfere with how you do business. Companies such as Virginmoneyus.com will help you make the loan official. Laying out terms and making sure that both parties understand them is the best thing you can do to protect their investment, your business organisation, and both of your relationships.

 

Another creative business financing choice is revenue based lending. At a time when the Credit Crunch has banks hesitating or unable to loan, an alternate kind of lending has come out. Revenue lending focuses on what a business actually does, instead of than its or its owner’s credit score. This allows companies such as Performance Commercial Capital to lend to business proprietors at highly competitive interest rates and with much more flexibleness on repayment options. Performance is not alone, as hundreds of revenue based lenders have found press coverage recently by the media, which is excited to report some good news about the bad credit loan application process.

 

 

If you want some TRULY creative business financing, check out Indiegogo.com. Users can post a project, and how much money they need to raise. You can then set what sort of incentives people who donate can receive . For example, one user found a few thousand dollars for her small business, pulled together from a few hundred lenders who expected nothing in return. The idea is very originative and will let you to practice your delivery at the very least. So far this crowd funding website has funded more than 5000 projects across the world.