business in Bed - Dollars and $ense
Sources of finances for your business
  1. Your own resources: savings, real estate, home equity, vehicles, IRAs, stocks and bonds, credit cards.

  2. Family and friends: Be sure to have a written agreement if you choose this method.

  3. Commercial banks, credit unions and loan companies: You will definitely need a complete business plan to go this route. The Small Business Administration provides guaranteed loans through banks. Find more valuable resources in Resources and Links.

  4. Private investors: Investments and loans usually involve providing funding in exchange for an interest in the company. Investors can be located through the local newspaper classified ads, banks, accountants and attorneys.

  5. Owner financing: If you are purchasing a business, the owner may sell it to you on a contract.

  6. Customers: Prepayment for products or services, such as half down and half on completion, can leverage your money and allow you to purchase materials without using working capital.

  7. Suppliers: Extended terms, 30 to 120 days, on purchases can help your cash flow. Co-op advertising, display cases, racks, signage and other equipment can often be obtained from suppliers to advertise or display their products.


Note: This is general information only and it is not intended to be used as legal or accounting advice. For more detailed information, consult with an accountant and your bank representative.

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