What are the best ways to get start up cash? Grants? Bank Loans? My credit history is not great, other options?
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M$3 Answers
1. SBA loan - one of the loan programs suitable for home based business is SBA's Microloan Program. This is administered through local non-profit community lenders. You will get an average microloan of about $10,500 or as high as $35,000. When this program was initiated, loans were character-based and does not require collateral but most programs now require some type of a collateral and personal guarantee of the borrower. You will find more information at SBA website.
2. Angel investors -if you have a hot and innovative idea, you may be able to attract one of the angel investors out there.
Source:
http://www.entrepreneur.com/article/80674
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M$
Another idea is to find private funding for your project. Network as much as possible to find investors that are passionate about what you are trying to accomplish. Someone who has a passion for the idea is much more likely to hand over cash rather than a bank or similar that simply looks at your credit history and background.
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
M$
