Here's some advice on how to include things like a sales forecast, expense budget, and cash-flow statement. Based in the Washington, D.
But given our current state of affairs, securing funds is as tough as ever.
Consider Factoring Factoring is a finance method where a company sells its receivables at a discount to get cash up-front. For that reason, the business has gotten a bad reputation over the years.
That said, the economic downturn has forced companies to look to alternative financing methods and companies like The Receivables Exchange are trying to make factoring more competitive. The exchange allows companies to offer their receivables to dozens of factoring companies at once, along with hedge funds, banks, and other finance companies.
These lenders will bid on the invoices, which can be sold in a bundle or one at a time. A message from Inc. Read more on financing your business with factoring. Get a Bank Loan Lending standards have gotten much stricter, but banks such as J. Morgan Chase and Bank of America have earmarked additional funds for small business lending.
So why not apply? Read more on what you need to know about filling out a loan application.
Use a Credit Card Using a credit card to fund your business is some serious risky business. Fall behind on your payment and your credit score gets whacked.
However, used responsibly, a credit card can get you out of the occasional jam and even extend your accounts payable period to shore up your cash flow. Read more on financing your business with a credit card. And thanks to provisions in the tax code, you actually can tap into them without penalty if you follow the right steps.
Read more on financing a business with your k. Try Crowdfunding A crowdfunding site like Kickstarter. Your friends, family, and strangers then use the site to pledge money. Kickstarter has funded roughly 1, projects, from rock albums to documentary films since its launch last year.
Read more on using Kickstarter for business. Pledge Some of Your Future Earnings Young, ambitious and willing to make a bet on your future earnings? Through an online marketplace called the Thrust Fund, the three have offered up a percentage of their future lifetime earnings in exchange for upfront, undesignated venture funding.
Read more on trading future earnings for funding now. Attract an Angel Investor When pitching an angel investor, all the old rules still apply:Why would I want to invest your startup?
An investment is supposed to go a long way toward getting a product ready for launch. That means not spending a ton of money on swag. We don't just write your business plan, we can also help you determine the kind of funding that is right for your business.
And, then we can get you in front of the right lenders or investors. Bplans offers free business plan samples and templates, business planning resources, How-to articles, financial calculators, industry reports and entrepreneurship webinars.
The hardest part of starting up is starting out.
At Techstars Startup Weekend, you'll be immersed in the ideal environment for startup magic to happen. This business plan will show how a total investment of only $, could yield cumulative net profits in excess of $, over a five-year period, and average monthly sales of $72,, while maintaining adequate levels of liquidity.
It's tough finding startup capital to open a small business. We've rounded up the top resources for startup business loans.