At best I may need 20,000 to launch my business plan. I am married but would
total financing or assistance. What is the best direction for me to search
for total assistance if at all possible? This is a business that I could
operate from home initially. Thank you.
As mentioned on these posts, there is pretty much no type of business funding
that will provide a start up loan in the name of the business, even more so
for a home based business. In this situation, financing in your personal name
will likely be what is required. The peer to peer may work, though it may be
piecemeal. Once you are in business for at least 6 months, some types of
loans may be available both private and state or federal government backed
Your problem is that $20K is not worth too many lender's or business banker's
time. Most individuals starting businesses that only need $20K usually do so
via personal resources - like personal credit cards and/or personal loans or
personal lines of credit.
Or, you could look into micro credit loans - these are SBA sponsered
organizations that can provide up to $35,000 for new businesses. But, do know
that these loans take time - upwards of 5 or 6 months to get funded.
Lastly, you might think of other personal loan resources like peer-to-peer
loans or crowdfunding.
If none of those options work for you - you might think about scaling back a
little so that you can at least get your business started and out-there with
less money - money that you might already have in savings or can get quickly
- say from a job (starting and running your home business part-time).
kmurray | Community Moderator |
9/12/2012 - 9:13 pm
Hi, BizResearcher makes a great suggestion. Check out the local resources that are available to get you started. This blog post also offers great information about loans.
BizResearcher | Window Shopper |
9/12/2012 - 11:10 am
You may want to visit with a counselor at a womens business center, small
business development center or SCORE office. Their services are free and they
can help you get started. Start-up financing is hard to obtain, particularly
in the current economy, but you may qualify for a micro loan or something
similar. A counselor can evaluate your business plan and help you with the
details.
Before going forward with a homebased business, be sure to contact your local
planning and zoning department. Many types of businesses cannot be located in
a home, particularly retail businesses if customers come and go.
wsan12 | Performer | 9/15/2012 - 5:06 pm
that will provide a start up loan in the name of the business, even more so
for a home based business. In this situation, financing in your personal name
will likely be what is required. The peer to peer may work, though it may be
piecemeal. Once you are in business for at least 6 months, some types of
loans may be available both private and state or federal government backed
cashloans | Window Shopper | 9/14/2012 - 8:51 am
time. Most individuals starting businesses that only need $20K usually do so
via personal resources - like personal credit cards and/or personal loans or
personal lines of credit.
Or, you could look into micro credit loans - these are SBA sponsered
organizations that can provide up to $35,000 for new businesses. But, do know
that these loans take time - upwards of 5 or 6 months to get funded.
Lastly, you might think of other personal loan resources like peer-to-peer
loans or crowdfunding.
If none of those options work for you - you might think about scaling back a
little so that you can at least get your business started and out-there with
less money - money that you might already have in savings or can get quickly
- say from a job (starting and running your home business part-time).
kmurray | Community Moderator | 9/12/2012 - 9:13 pm
BizResearcher | Window Shopper | 9/12/2012 - 11:10 am
business development center or SCORE office. Their services are free and they
can help you get started. Start-up financing is hard to obtain, particularly
in the current economy, but you may qualify for a micro loan or something
similar. A counselor can evaluate your business plan and help you with the
details.
Before going forward with a homebased business, be sure to contact your local
planning and zoning department. Many types of businesses cannot be located in
a home, particularly retail businesses if customers come and go.
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