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Funding Your Start Up

Written by: Brandy Adamson

Article Overview: Learn the basics about funding your start up.

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Funding Your Start Up

You have an idea for a business. You need funding for your start up. What do you do? There are many options available. You could take out a personal loan, max your credit cards, or call on the help of friends and family. Those are a few options the first two are not that appealing and your friends and family may not be in a financial position to assist. So now you ask, what options do I have?

There are three growingly popular options. One option is applying for a Small Business Administration (SBA) loan. These are loans specific to small business owners. The loans are typically at lower interest rates than a bank loan. The SBA has an application with specific requirements – one of which is a business plan – that are necessary. Once the application is complete, the loan package is then submitted to one of the various local organizations that work with the SBA. These organizations are usually local economic development organizations. These organizations usually have a monthly deadline for submitting SBA loan applications. It is important to find out the deadline and submit your application prior to that date.


Another growing option is Angel Investors. Angel Investors have funds set aside to assist small business owners. Angel Investors typically have specific industries, geographical locations, or areas of business development they support. It is important that all required information is supplied to the Angel Investor. Angel Investors require a business plan as well.

Joint Ventures are strategic partnerships developed between an individual/organization with an idea and an individual/organization with the necessary funding to make the partnership a reality. Joint ventures spread the risk and the cost as well as improve the speed to the market.

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Home > Women-Entrepreneurs > Brandy Adamson > Funding Your Start Up
Article Tags: angel investor, angel investors, bank loan, business development, business plan, credit cards, economic development organizations, financial position, friends and family, geographical locations, interest rates, joint ventures, loan package, local economic development, personal loan, sba loan applications, small business administration, small business owners, specific industries, strategic partnerships

About the Author: Brandy Adamson
RSS for Brandy's articles - Visit Brandy's website

Brandy Adamson CEO, Alive Inc & ALIVE Magazine Business & Life Strategist Publisher Speaker Ms. Adamson is the owner of Alive Incorporated, a firm providing it clients with business consulting, brand management, marketing and coaching services. Through its newest addition to the Alive Incorporated family, Siri Publishing, Ms. Adamson also publishes ALIVE Magazine, a bi-monthly publication for aspiring and current entrepreneurial women of color. This magazine motivates, inspires, and encourages women to bring dreams to life. The mission of this publication is to nourish women’s dreams through access to resources, networking, development opportunities and avenues for advertising her business. A business and life coach, she coaches entrepreneurs and professionals to identify priorities and align their values and actions while developing effective strategies to make progress toward life goals. Her e-newsletter and blog talk radio show provide inspiration and motivation to its readers and listeners. Ms. Adamson is available for speaking engagements. The most requested programs are Empowerment, Entrepreneurship and Diversity. editor@alivemagonline.com

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Why pay a Consultant? Why pay a Consultant? - Consultants can bring you into contact with a Funding Source but how do you tell whether a consultant will be successful beforehand? Professional Consultants ALWAYS ask for some kind of retainer so that they can feel they're not being used by a 'chancer'. However, when raising funding, a real consultant will offer to REFUND THAT RETAINER out of the % BROKERAGE he charges, payable once he finds your Funding Source, and payable from initial disbursements. Retainers only cover part of the costs that a consultant has to pay while working on behalf of the Client. Their real wages come from the agreed upon Brokerage, received when they are successful on the Client's behalf.
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