10 Instant Ways to Get Money for Your Small Business

You’re all set and ready to take off with your small business – the busiest and most profitable time of year is coming up and you don’t want to miss the opportunity. But you need money, now.

Fear not, because despite the state of today’s capital markets there are still a dozen ways to raise funds for your business.

If traditional fund-raising strategies such as investors and finance deals with your customers and suppliers – or bank borrowing doesn’t work, here’s what you can try (or a mixture):

You’re all set and ready to take off with your small business – the busiest and most profitable time of year is coming up and you don’t want to miss the opportunity. But you need money, now.

Fear not, because despite the state of today’s capital markets there are still a dozen ways to raise funds for your business.

If traditional fund-raising strategies such as investors and finance deals with your customers and suppliers – or bank borrowing doesn’t work, here’s what you can try (or a mixture):

1.    Community Banks: These small banks offer business owners less options, but they are flexible. So start a search for community banks in your area and see what they can do for you.

2.    Borrow Against Your Assets (Asset-backed borrowing): You can chose to borrow against any asset you own from your home-equity line of credit an even cash in the bank and your business transactions tied into your accounts receivable, contracts or inventory.

3.    Microloans: These loans can range from hundreds of dollars to the low six figures. They are increasing in popularity all over the world from the US to India. However, this source of borrowing looks to be losing steam as lenders start regarding the microloans as too small to be worth the effort. So take advantage of this trend, before it goes out of fashion.

4.    Third-Party Loan Guarantees: If you have a close friend or relative who is able to co-sign a credit-line agreement – and is willing to, you’re in luck. It means you don’t have to borrow directly from friends or family but should assume full responsibility for the loan at all times.

5.    Venture Leasing : This type of lending is generally available to companies that have already been granted institutional funds (or are in the midst of closing a deal with a venture capitalist or a similar type of financier).

6.    Credit Cards: This is one cornerstone of lending for the small business owner. Be sure to contact all the credit card companies, there’s bound to be one to offer you an unsecured line of credit.
 

Find all the info you need on credit cards on EconomyWatch

7.    Friends and Family: An age old avenue for small business funding is through the ones who are nearest and dearest.

8.    Asset Sales: You can sell your assets to someone you know and trust. The person then leases those assets back to the business at a fair price. The perk for your pal: tax deduction and income stream.

9.    Private Equity: Either through performance-oriented, flexible terms or redeemable stock options.

10.    Online Investment Lending: A new trend that is set to get bigger, but reserved for the inner circle of hot growth companies. Start visiting financing websites to see what they’re about and if they can help you.