Tag : Financing

Startup Financing – Small Business Funding, small business financing.#Small #business #financing


Startup Business Financing

Small business financing

Small business financing

Wouldn t you love to have a few million dollars to start your business? Me too! With a great idea and a great business plan, you probably feel almost entitled to get the funding you re seeking.

The reality, though, is that for most entrepreneurs, you must prove your concept first before anyone will put up that kind of money. But most businesses require some sort of initial capital for things like inventory, marketing, physical facilities, incorporation expenses, etc.

According to the U.S. Small Business Administration (SBA), While poor management is cited most frequently as the reason businesses fail, inadequate or ill-timed financing is a close second. Sometimes it comes down to simple cash flow–many companies have closed their doors because they just couldn t make it another few months until the money came in.

When exploring your funding options, there are several factors to consider:

  • Are your needs short-term or long-term? How quickly will you be able to pay back the loan or provide a return on their investment?
  • Is the money for operating expenses or for capital expenditures that will become assets, such as equipment or real estate?
  • Do you need all the money now or in smaller pieces over several months?
  • Are you willing to assume all the risk if your company doesn t succeed, or do you want someone to share the risk?

The answers to these questions will help you prioritize the many funding options available.

  • Debt financing – You borrow the money and agree to pay it back in a particular time frame at a set interest rate. You owe the money whether your venture succeeds or not. Bank loans are what most people typically think of as debt financing, but we will explore many other options below.

  • Equity financing – You sell partial ownership of your company in exchange for cash. The investors assume all (or most) of the risk–if the company fails, they lose their money. But if it succeeds, they typically make a much greater return on their investment than interest rates. In other words, equity financing is far more expensive if your company is successful, but far less expensive if it isn t.

Because investors take on a much higher risk than lenders, they are typically far more involved in your company. This can be a mixed blessing. They will likely offer advice and connections to help grow your business. But if their plan is to exit your company in 2-3 years with a substantial return on their investment, and your motivation is the long-term sustainable growth of the company, you may find yourself at odds with them as the company grows. Be careful not to give up too much control of your company.

Let s take a closer look at the many options available for startups.

Friends and family are still your best source for both loans and equity deals. They are typically less stringent regarding your credit and their expected return on investment. One caveat: structure the deal with the same legal rigor you would with anyone else or it may create problems down the road when you look for additional financing.

Prepare a business plan and formal documents–you ll both feel better, and it s good practice for later.

Credit cards are a great tool for cash flow management, assuming you use them just for that and not for long-term financing. Keep one or two cards with no balance on it and pay it off every month to give yourself a 30 to 60-day float with no interest. And the low introductory rates on some cards make them some of the cheapest money around. Managed well, they re extremely effective; managed poorly, they re extremely expensive.

Bank loans come in all shapes and sizes, from microloans of a few hundred dollars, typically offered by local community banks, to six-figure loans by major national banks. These are much easier to obtain when backed by assets (home equity or an IRA) or third-party guarantors (e.g., government-sponsored SBA loans or a cosigner).

If you obtain a line of credit rather than a fixed-amount loan, you don t start paying interest until you actually spend the money.

Leasing is the way to go if you need big-ticket items such as equipment, vehicles, or even computers. Your supplier will help you explore this.

Angel investors fill the gap between friends and family and venture capitalists, who now rarely even look at investments below $1 million. Enlist a savvy financial adviser to structure the deal.

Private lending represents a viable alternative when the bank says no . Private lenders are looking for the same information and will conduct similar due diligence as the banks, but they typically specialize in an industry and are more willing to take on higher-risk loans if they see the potential.

There are many channels available to you to raise capital. All of the above approaches have numerous variations. Put together a solid business plan, talk to a financial adviser, and just start asking. Someone will eventually say Yes .



Financing For Business – Payday Loans Online, financing a business.#Financing #a #business


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Financing Small Business Loan – Online Cash Advances Payday Loans, financing a

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Finance and support for your business, new business financing.#New #business #financing


Finance and support for your business

Access to finance is a scheme for businesses who need help raising finance for growth.

Provides free business development support and guidance.

Loan and grant fund to support automotive and aerospace projects in the West Midlands and Liverpool.

Training and advice to encourage the establishment of co-operatives.

Advice and support for businesses in southern England.

Business advice and support for individuals starting a business.

Advice on good practice in employment and employment relations.

Specialist advice and training for problem solving and service provision in agriculture, animal health, food, environment and biosciences in Northern Ireland.

Grants and support to increase research, development and innovation in agritech.

Helps businesses employ apprentices by providing them with training opportunities.

Business support, training and advisory services for the Ards Borough Area.

Armagh Business Centre offers tailored support for businesses in Nothern Ireland.

Loans for new and existing small businesses to create and safeguard jobs in the West Midlands

Grants for programming costs, organising and running arts programmes in Nothern Ireland.

Funding for creative organisations and projects in Wales

Vouchers to access external expertise, facilities and equipment to help your business innovate and grow.

Information and guidance on working in environment with asbestos.

Specialist advice for small businesses based in Northern Ireland.

Training of motor mechanics in electronic diagnosis of faults.

Free support, help with finance and low-cost flexible workspace for new and existing small or medium businesses in Barking and Dagenham.

Loans to help small and medium-sized businesses develop and grow.

Offers free support and guidance for graduates of any university in England, Scotland, Wales and Northern Ireland to start a business.

Support for beef and sheep farmers in Wales.

Subsidised broadband installation for businesses that can’t access an affordable broadband service with a speed of at least 2MB per second.

Free, quick and easy access to a directory of approved finance suppliers for UK businesses.

Big Issue Invest helps social enterprises and charities by providing loans and investments.

Support for scientists and business specialists to solve a process, material, or product development challenge.

Advice and support for businesses across Lancashire: including coaching, mentoring, skills training, funding and start-up support.

Business grants to install high speed broadband connections directly to a premises in Cardiff and Swansea

Funding for the installation of broadband to areas in Wales where existing providers don’t provide a service.

Grant funding to the value of £1,000 available to invest in projects that will help grow your business.

Free business support and advice tailored to your business needs.

Grants to help Swansea City centre businesses improve their shopfronts or building facades

Free support for small and medium-sized businesses in the development of products and services that reduce carbon usage.

Free one to one advice for pre-start and new businesses based in the South East of England

Advice, workshops, loans and innovation grant services for start-up and trading businesses in Cambridgeshire, Essex, Norfolk and Suffolk

Free advice, planning and on-going support for business start-ups in south-east England

Advice on topics like licensing, finances, recruitment and development for new and established businesses based in Wales

Information, advice, training and support for businesses based in North Somerset

Start-up advice and support for businesses in Essex

Advice, databases, publications and workshops for business owners, innovators and entrepreneurs who want to grow.

Programmes to support businesses and social enterprises in Northern Ireland.

One-to-one advisory sessions and specialised workshops available for businesses in Derbyshire, Nottinghamshire and Greater Lincolnshire.

Alternative financing for UK small business owners.

One-to-one and online business advice from 6 business centres on starting, growing or relocating your business in East Riding.

Business planning, sales, marketing and social media workshops and advice for Tees Valley residents thinking of starting a business.

Increases awareness of business continuity management in Manchester’s business and voluntary sector.

Start-up and development grants for businesses in Wales.

Grants to help start-up and established small and medium-sized businesses (SMEs) in North Yorkshire to grow.

Energy reviews and grants to help businesses in the West Midlands manage and reduce energy costs.



Small Business Financing, TD Canada Trust, new business financing.#New #business #financing


Small Business Financing

7:00 a.m. – 12:00 a.m. EST

New business financing

Helping you start, purchase or grow your business

How to apply

Visit your local

TD Canada Trust branch

Government Grants for Small Business

With a Canada Small Business Financing Act Loan (CSBFL), TD Canada Trust and the Government of Canada work together to help you with the financing of your existing business or start-up. A CSBFL can help you get the loan you need to expand, purchase, or improve the fixed assets within your business.

Features of the CSBFL include:

  • Loan amounts available up to $1,000,000 1
  • Financing available for up to 90% of the “Eligible Costs” 2 of assets financed
  • Monthly repayment frequency with a choice of terms, up to a maximum of 10 years. A repayment schedule reflecting an amortization of up to 20 years may be available 3
  • Competitive fixed and floating interest rates are available
  • Personal guarantee required, starting at 25% of the loan amount 4
  • Loan may only be used for certain purposes
  • One-time Federal Government registration fee of 2% of the loan amount (which may be included in the amount borrowed)
  • A 1.25% Administration Fee is included as part of your interest rate
  • Standard TD Canada Trust Set-up fees apply

Do you qualify?

Here are some of the government’s requirements 5 for a CSBFL:

  • Your business operates or is about to operate in Canada
  • Your business’s annual gross revenue is less than $10 million in the year you apply
  • Your business is for profit, and is not a farm, charity, or religious enterprise
  • The assets purchased or improved must be used in your business


Startup Financing – Small Business Funding, financing a small business.#Financing #a #small

Startup Business Financing

Financing a small business

Wouldn t you love to have a few million dollars to start your business? Me too! With a great idea and a great business plan, you probably feel almost entitled to get the funding you re seeking.

The reality, though, is that for most entrepreneurs, you must prove your concept first before anyone will put up that kind of money. But most businesses require some sort of initial capital for things like inventory, marketing, physical facilities, incorporation expenses, etc.

According to the U.S. Small Business Administration (SBA), While poor management is cited most frequently as the reason businesses fail, inadequate or ill-timed financing is a close second. Sometimes it comes down to simple cash flow–many companies have closed their doors because they just couldn t make it another few months until the money came in.

When exploring your funding options, there are several factors to consider:

  • Are your needs short-term or long-term? How quickly will you be able to pay back the loan or provide a return on their investment?
  • Is the money for operating expenses or for capital expenditures that will become assets, such as equipment or real estate?
  • Do you need all the money now or in smaller pieces over several months?
  • Are you willing to assume all the risk if your company doesn t succeed, or do you want someone to share the risk?

The answers to these questions will help you prioritize the many funding options available.

  • Debt financing – You borrow the money and agree to pay it back in a particular time frame at a set interest rate. You owe the money whether your venture succeeds or not. Bank loans are what most people typically think of as debt financing, but we will explore many other options below.

  • Equity financing – You sell partial ownership of your company in exchange for cash. The investors assume all (or most) of the risk–if the company fails, they lose their money. But if it succeeds, they typically make a much greater return on their investment than interest rates. In other words, equity financing is far more expensive if your company is successful, but far less expensive if it isn t.

Because investors take on a much higher risk than lenders, they are typically far more involved in your company. This can be a mixed blessing. They will likely offer advice and connections to help grow your business. But if their plan is to exit your company in 2-3 years with a substantial return on their investment, and your motivation is the long-term sustainable growth of the company, you may find yourself at odds with them as the company grows. Be careful not to give up too much control of your company.

Let s take a closer look at the many options available for startups.

Friends and family are still your best source for both loans and equity deals. They are typically less stringent regarding your credit and their expected return on investment. One caveat: structure the deal with the same legal rigor you would with anyone else or it may create problems down the road when you look for additional financing.

Prepare a business plan and formal documents–you ll both feel better, and it s good practice for later.

Credit cards are a great tool for cash flow management, assuming you use them just for that and not for long-term financing. Keep one or two cards with no balance on it and pay it off every month to give yourself a 30 to 60-day float with no interest. And the low introductory rates on some cards make them some of the cheapest money around. Managed well, they re extremely effective; managed poorly, they re extremely expensive.



5 Small Business Financing Options for Startup Entrepreneurs, business financing options.#Business #financing

5 Small Business Financing Options for Startup Entrepreneurs

Business financing options

Credit Cards

According to a 2012 National Federation of Independent Business (NFIB) study [click the image above for the full infographic], 79% of small business owners used credit cards to start or grow their business. That says a lot about the significance of using credit cards to capitalize a small business.

According to another study (PDF) conducted by Keybridge Research, the use of business credit cards to start or grow a small business has tremendous positive effects on the business and the economy as a whole. The study found that the expansion of credit card lending between 2003 and 2008 contributed to the creation of 1.6 million jobs and for every $1,000 of business credit card use, a $5,500 increase in revenue was experienced by the small business.

The bottom line is that about 4 out of 5 small business owners will be using credit cards.

Founders of Google, Larry Page and Sergey Brin, did it in the early days. Most other successful business owners have done it as well. It s like anything else in that, you can use credit cards the right way or the wrong way. So plan this like you do your business.

I like what T. Boone Pickens says about planning. He said:

A plan without action isn t a plan. It s a speech.

Don t make a speech about using credit cards, make a plan. Places like Lendio and NCH Capital help a lot of business owners learn how to use business credit cards to grow their businesses.

Microloans

Microloans are small loans typically issued to borrowers who are low income earners or have less than perfect credit and do not qualify for traditional bank financing.

According to the Microfinance Information Exchange, MicroBanking Bulletin Issue #19, nearly 74 million entrepreneurs across the world have microloans that are equal to a combined total of $38 billion U.S. dollars (as of 2009). Statistics vary but most microlenders report that between 95 99% of their loans are repaid. Kiva.org has over a 99% repayment rate this month alone.

Repayment rates suggest that small businesses have experienced a significant level of success as a result of obtaining microloans. Furthermore, according to a recent survey (PDF) conducted by Accion U.S. Network, 42% of survey respondents said their business income increased (between 2010 2011) as a result of a microloan.

Personal Savings

This is the #1 small business financing option for most people who find that they don t qualify for credit cards, microloans, or any other type of traditional bank financing.

This is a great way to get started. If you don t quality for things like business credit cards or traditional bank financing, then you may want to take the appropriate steps to correct any credit issues that may be part of the problem. We would all like to have more financing options in the future as we grow our businesses. If you re like millions of other business owners with less-than-perfect credit, then do something about it.

Resources like Creditera are invaluable as it is currently the only credit monitoring platform that allows business owners to monitor both business and personal credit in one place.

The 3 F s: Family, Friends and Fools

This is a great example of how the small business financing options are different for everyone. For some people, that list of possible investors from their friends and family is a long one. For others it s, well, a short list shall we say.

Often times it is difficult to obtain financing from family and friends because they may not fully understand the business or believe it will succeed. You will really need to do what it takes to convince them the business will be lucrative and successful to get them to invest.

Entrepreneurs are famous for over-selling their cool ideas to their Uncle Louie and then seeing things not work out. If you do accept an investment from a friend or family member, then I suggest using something like ZimpleMoney. Whatever you do, be sure to treat your friends and family no different than you would a savvy angel investor. They deserve updates, communication and to be one of the first phone calls when there is a problem.

You should treat them as the partner you allowed them to become when you accepted their check. As for the fools I ll leave that one alone.

Retirement Accounts

This small business financing option is highly popular for entrepreneurs who want to purchase a franchise. In order to use your retirement account to fund your business, you would use the Rollover for Business Startup (ROBS) Strategy.

This strategy is slightly complicated so you ll want to consult with an expert such as Benetrends or Tenet Financial Group. It consists of forming a C Corporation and rolling your current retirement plan over to the new corporation s retirement plan. It s a relatively complex strategy. So don t try it on your own and do your due-diligence. The term ROBS actually comes from the IRS ROBS compliance project.

ROBs strategies are common but are right up there as the most risky ways to finance a business along with Home Equity Lines of Credit and using personal savings. Again, in the event that your business fails, you likely lose your nest egg or whatever portion of it you rolled over.

I probably side with my friend Joel Libava, The Franchise King, on this when I say that I don t think of franchisees as full-fledged, 100% entrepreneurs. I also cannot negate what my other good friend, Rieva Lesonsky, says when she argues, very respectfully, that franchisees take a lot of risk in buying a franchise. Especially a less established franchise.

When franchisees roll over their nest egg and start a franchise they totally get my respect and they clearly are taking a risk. I guess for me, I can t get past the part about following directions and needing to get permission from the franchisor for many business decisions that an entrepreneur would not only make, but would make quickly, and he/she would laugh at the thought of needing someone s permission.

Conclusion

Successful business owners all have one thing in common. They take action. They execute.

Mistakes and failures come with the territory, so learn your options, move forward, and accept that there will be lessons to learn along your road to success. Figure out which small business financing option is best for you and your dream.



Financing Small Business Loan – Online Cash Advances Payday Loans, financing a

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Business Financing, business financing.#Business #financing


Business financingCEI

  • Home
  • Financing
  • Business Financing

CEI and its subsidiaries offer business and project financing and technical support for a wide range of small business, community facilities, renewable energy, affordable housing and mixed used real estate projects and ventures. With flexible business financing, loans, investments, rates and terms, CEI is able to leverage its capital with banks and other sources.

Since its first major investment in 1979 in a value-added, community-owned fish processing facility in midcoast Maine, CEI has provided $1.27 billion to 2,649 businesses, natural resource industries, community facilities, and affordable housing in Maine, the Northeast, and throughout rural America, leveraging over $2.55 billion in high impact, job-creating and sustainable economic development projects and enterprises.

CEI financing opportunities include:

  • Direct loans to start-up, existing and growing small businesses in Maine and beyond, in amounts ranging from $5,000 to $3,000,000. To view our business financing brochure, please click here.To obtain an application for a loan, please click here.
  • Venture capital investments in small businesses located in New England and the mid-Atlantic region. Investments range from under $500,000 to over $1 million.
  • New Markets Tax Credits are available for investments in targeted distressed communities in Maine, Northern New England, and upstate New York. Select projects with high 3E impact will be considered in other parts of the country. Tax credit investments range from $2 million to $30 million.
  • Affordable Homeownership, Rental and Supported Housing with loans and development capital from under $500,000 to over $2 million.
  • Equity
  • Solar project investments in communities with low to moderate incomes, providing good jobs and clean energy

Find out more by calling 207-504-5900.

Business financing



Beyond the Bank Loan: 6 Alternative Financing Methods for Startups, small business

Beyond the Bank Loan: 6 Alternative Financing Methods for Startups

Many aspiring entrepreneurs have an idea for their business but lack the capital to actually start it. Brand-new businesses are often turned down for bank loans, and even if your business is established, funds can still be tough to secure. Loans funded by the Small Business Administration are usually more accessible, but they are becoming increasingly competitive.

So what options are left for someone aspiring to be a small business owner? Here are six options beyond bank loans for financing your startup.

Online lending

Online lenders have become a popular alternative to traditional business loans. These platforms have the advantage of speed, as an application takes only about an hour to complete, and the decision and accompanying funds can be issued within days. Because of the ease and quickness of online lending, economist and former U.S. Treasury Secretary Larry Summers said at the 2015 Lend It conference that he expects online lenders to eventually reach more than 70 percent of small businesses.

Editor s note: Are you considering a small business loan for your business? If you re looking for information to help you choose the one that s right for you, use the questionnaire below to have our sister site BuyerZone provide you with information from a variety of vendors for free:

Angel investors

Angel investors invest in early-stage or startup companies in exchange for a 20 to 25 percent return on their investment. They have helped to start up many prominent companies, including Google and Costco. Mark DiSalvo, CEO of private equity fund provider Semaphore said, You are likely to get an investor who has strategic experience, so they can provide tactical benefit to the company they are investing in.

Find out what makes angel investors fund a business here.

Venture capitalists

Venture capital is money that is given to help build new startups that are considered to have both high-growth and high-risk potential. Fast-growth companies with an exit strategy already in place can gain up to tens of millions of dollars that can be used to invest, network and grow their company frequently.

Brian Haughey, assistant professor of finance and director of the investment center at Marist College, said that because venture capitalists focus on specific industries, they can generally offer advice to entrepreneurs on whether the product will be successful or what they need to do to bring it to market. However, venture capitalists have a short leash when it comes to company loyalty and often look to recover their investment within a three- to five-year time window, he said.

Learn more about venture capital here.

Factoring/invoice advances

Through this process, a service provider will front you the money on invoices that have been billed out, which you then pay back once the customer has settled the bill. This way, the business can grow by providing the funds necessary to keep it going while waiting for customers to pay for outstanding invoices.

Eyal Shinar, CEO of small business cash flow management company Fundbox, says these advances allow companies to close the pay gap between billed work and payments to suppliers and contractors.

By closing the pay gap, companies can accept new projects more quickly, Shinar told Business News Daily. Our goal is to help business owners grow their businesses and hire new workers by ensuring steady cash flow.

Visit BND s guide to choosing a factoring service here.

Crowdfunding

Crowdfunding on sites such as Kickstarter and Indiegogo can give a boost to financing a small business. These sites allow businesses to pool small investments from a number of investors instead of having to look for a single investment.

Make sure to read the fine print of different crowdfunding sites before making your choice, as some sites have payment-processing fees, or require businesses to raise their full stated goal in order to keep any of the money raised.

Check out some emerging trends in crowdfunding here.

Grants

Businesses focused on science or research may be able to get grants from the government. The SBA offers grants through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Recipients of these grants are required to meet federal research-and-development goals, and have a high potential for commercialization.

Learn more about applying for a small business grant here.

Additional reporting by Katherine Arline and Nicole Taylor. Some source interviews were conducted for a previous version of this article.

Jennifer Post graduated from Rowan University in 2012 with a Bachelor s Degree in Journalism. Having worked in the food industry, print and online journalism, and marketing, she is now a freelance contributor for Business News Daily. When she s not working, you will find her exploring her current town of Cape May, NJ or binge watching Pretty Little Liars for the 700th time.