3 Ways to Get Money for Your Business and Advice From an Expert

There is a plentiful supply of money out there waiting to be given to your business. You just need to know how and where to get it.

1) Angel Investors (Read How)

Your business might get funding from “angels,” which are wealthy people or groups of people looking to invest in an emerging business. Go here to see who and how.

*** Go here to see who and how on angel investors.

2) Venture Capital (Read How)

If angels aren’t an option or don’t offer sufficient capital, you might explore venture capital. Venture capitalists will take equity in your company. Go here to see who and how.

The Metro Areas With The Most Venture Capital Investments

*** Go here to see who and how on venture capital.

3) Home Equity Loan (Read How)

If you own a home and are confident in your business, this is a simple way to obtain a sizable amount of funding. Go here to see who and how.

Reasons Why People Take Out a Home Equity Loan

*** Go here to see who and how on home equity loans.

I am an expert on the topic of raising money for small and home businesses. Feel free to ask me any questions you may have on this topic by posting a reply below with your detailed question.

Natalie Regoli
CEO, SUp.biz

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Permalink Reply by Grace Virgo Marsh on June 13, 2009 at 11:13pm: Hello Natalie, I have poor personal credit but would like to establish business credit to start my import and export home business. Most companies will not give me a loan because I am not established. So what would you suggest that I do. would going the route of incorporating be a good choice or something else. If you have any suggestions I am willing to listen. Thank you. Also the internet offers alot of grant programs are they legitimate. Better yet, what would be the wisest choice to make at this time taking into consideration the economy.; ▶ Reply to This

Permalink Reply by Team Sta.rtUp.biz on June 14, 2009 at 7:00pm: Hi Grace,

If you form a company, you should be able to bring the documentation to a bank and open a business checking account. You will be able to apply for a credit card and a line of credit in the name of the business. Since your business is new, if you have poor personal credit, you might not immediately qualify. However, as the business grows and you begin earning regular revenue (which you then deposit regularly into your business checking account), you will become more eligible for the business credit card and line of credit. At that time, you will also have a better chance of qualifying for loans from other institutions.

If you don't have a partner in your business, your two key choices are either an LLC or a Corporation. As for whether you should form an LLC or another type of entity, check out the post entitled “Business Structure LLC or INC?”.

As for grants, they are time consuming to research and apply for. There are whole books on the issue, and professionals who make a living helping people find grants. I'd suggest focusing your time on making your business profitable.; ▶ Reply to This

Permalink Reply by Joseph Lizio on June 16, 2009 at 4:58am: Instead of wasting your time and money on trying to get around your poor personal credit - your best option will be to fix your credit. This way you will not have this type of obstacle to overcome in the future. Plus, you will be surpraised at the doors that will open for you once you have established great personal credit. Yet trying to get around this issue does not work nor make the issue go away.; ▶ Reply to This

Permalink Reply by Trace Trajano on June 16, 2009 at 3:11pm: Grace, you need to put up a corporation or LLC whether or not you need to get a loan. It's good business and protects you from liability. If you're based in the US, it's cheap to incorporate or form an LLC. You can do it for $200-$500 max.

Several things you can do:
1. Find a money partner who will put up the money in exchange for equity or share in the profit
2. Run the business with no money - for example, can you buy on consignment?
3. Find a credit partner who will borrow the money for you in exchange for equity or share in the profit
4. Get credit cards to finance your business for the short term
5. As Natalie said, explore getting an equity line of credit on your house
6. Do you have other assets that can be used as collateral so you can get a loan?

Goodluck!
Trace; ▶ Reply to This

Permalink Reply by Jason Brown on July 10, 2009 at 12:06pm: With Regard to number 5 above? Don't Do It! We did and now were about $10K more in debt fighting criminalistic preditory loan agents, insidious investors and land theives trying to take our property when THEY breached their own contract!

The Mortgage and loan industry is ripping people off of their homes and land to the tune of BILLIONS of DOLLARS annualy! Now is DEFINATELY NOT a good time to finance or refinance Real Estate, Homes or anything else! Bad Advice! Here's a better tip!

Monitize a hobby, sell arts and crafts! You will make money, without having to pay INTEREST to the tune of 3 to 5 times the value of your loan and you WON'T lose your HOME or Property!

Whence you have a cashflow... apply for a credit card and list your hobby income as an additional source of income... this will give you a better credit record and improve your credit line... AFTER you pay off your debt, that is!

Going further into debt is never the solution! And any advertising you see telling you that you can clear up or get rid of your debt without filing for Bankruptcy is BOGUS!

Without actually paying off your debt, all you're doing is reorganizing it and transferring the debt into another 'ACCOUNT'!

You will still have to pay it off somewhere down the road!

Whenever you reorganize debt, you always increase the debt load with more and/or higher interest rates!

Every time you borrow against real estate, homes, or anything else of high value, you risk losing your equity, properties, Homes or anything else you put up as collateral!

And all it does for you is make you poorer, make the banksters richer and transfers wealth and equity in the most valuable of all commodities, Real Estate! to a bunch or Elitist, Corrupt, and amoral Banksters!

My Great Grandfather told all of his sons, grandsons and all family members for years that Real Estate is FINITE!

They Ain't Making Any More! Any that you have or can get is worth much, much, more that you have paid or will pay for it!

You really should try to manage without credit from anyone... it CAN be done, It will take LONGER, but you will save thousands of $ and NOT risk your equity or home on a chance!

Hasn't anybody been reading the news about the Federal Reserve?

How do you think we all got into this mess in the first place?

Borrowing! Debt! Mortgaging our Properties, Homes, and other Real Estate! These criminals know the value and they use you as slaves to increase their wealth, deplete yours and your life energy paying off loans given out without any solid equity backing the money they loan you at interest! Money they LITTERALLY just PRINT UP whenever they want to!

Here's a few places you can see with I'm talking about... Google Ron Paul's 'Audit the FED' Bernanke, Madoff, The D.T.I.C. (Depositors Trust Insurance Corporation holds more than 9 trillion in securities (Your Mortgage among them!) and www.cafr1.com, then take a long hard look at your taxes... income, real estate, land use taxes, and any other tax you're being forces to pay!

I can almost guarantee you that after reading a few days worth of the kind of stuff I've found... you'll never want to use any form of credit ever again!

Just Don't do it! You'll be better off for NOT doing it!

Trust me! Debt is never the way to go!

Regards

Jason Brown
onesovereignangel at yahoo dot com; ▶ Reply to This

Permalink Reply by Catherine Mascrès on August 5, 2009 at 4:26am: I agree with you. Not to borrow. Better be safe than sorry...But for arts and crafts...I unfortunately don't agree with you (I'm an artist). Amicalement. Catherine; ▶ Reply to This

Permalink Reply by Marian White on June 16, 2009 at 3:53pm: Grace, you definitely need to focus on your personal credit, not just for your business, but obviously for your personal ventures as well. Many people incorrectly believe they can ignore the status of their personal credit when they seek business credit and they are greatly disappointed when they are turned down. In today's economy, even established (5+ yrs) companies are required to have the business owners' personal credit history reviewed before being approved. There are a few lenders who will give limited business credit lines for newer businesses, but again, credit is a strong factor. If you have equity in real estate to use as collateral, it will increase your chances of being approved. Home based businesses are even more difficult to fund, which is why a home equity loan may be a great route for home based businesses. Our company has resources that can assist small business owners in improving their credit and provide financial products for working capital. www.GreyFinancialGroup.com; ▶ Reply to This

Permalink Reply by Patricia Hartfield on June 16, 2009 at 5:14pm: Hello, Grace

I here your situation. I Incorporated my Business (which I started on April 27th 2009). I likewise have poor Personal Credit but Thanks to this one Program that has an "A" rating with the BBB-and I went through there Orientation-and now there steps. Iam now creating my Business Line Of Credit. Because of this program Grace-I was able to start getting equipment for my office, plus start building my Business Credit which reports to Experian and Dun and Bradstreet. They show you how to get Net 30 Accounts-which alot of people aren't familiar with. Also, this program keeps your Business Credit seperate from your Personal Credit. The People are there for you. Some people have had issues-honestly I haven't because Iam following the program and the people are there to assist you. I don' have any financial startup money and don't own a home and no family is going to give me anything. So, this is the route Iam taking-its a 12 month program-but while you are going through the program you are getting things for your office and building your Business Credit. You will even get gas cards, clothing store cards so that you can shop and stay looking nice, and even Dell accounts ( I know because I just got three Computers and a all in one printer), plus, Staples etc..and they even assist you with getting cash as well. Iam loving this program and I likewise am glad that I went this route. Please go here and look over the site in details-okay.. I don't get any money for referring people its not like that-Iam just glad to help because Iam where you are today. Yes, its a monthly charge (no lie)-but when all said and done-that monthly fee is nothing compared to what you are going to be getting in return. So smile there is hope and you have it-if you have any questions or need more info contact me at: nycesweetp@gmail.com and here is the site to go check out okay. It is: www.creditmakeover.biz you will see a price for $399 but they allow you to pay monthly installments till you finish. Hope this helps,

Patricia
successat36; ▶ Reply to This

Permalink Reply by Abdol Rahim Mirza on June 17, 2009 at 8:21am: Grace, before you indulge in import/export business you must start retail business locally particularly you are running home business.

Import/export business is not suitable for home business, but only corporate business that needs much experience and level of working capital.

if you need more details, please contact me.

Wish you all the best.; ▶ Reply to This

Permalink Reply by Diane Friday on July 8, 2009 at 10:14pm: Grace, you could open a business account with Office Depot in your business name and EIN number. This should help you in rebuilding your credit.; ▶ Reply to This

Permalink Reply by Bill Morgenstein on June 16, 2009 at 2:26pm: In today's world you must form a discipline to find ways not to waste money and most importantly build your credit back up. Unless you have assets and collateral no legitimate lender will lend you money for your business. Low credit scores doom business people unless they have some very good friends or understanding relatives.

Also be very wary of those that make glorious promises and ask for money up front.

Bill Morgenstein; ▶ Reply to This

Permalink Reply by Sandy Falagan on June 16, 2009 at 3:02pm: I ordered and paid for information on how to find grant money. It looked like nothing fit my situation. I am a woman but not a minority woman nor a woman with children. I will review what you have included in your blog. Thank you.; ▶ Reply to This