Finding ways to get funding for your startup can be a little tricky. Even the best ideas fizzle out without some Benjamins to keep employees afloat. Between bank loans and investors, entrepreneurs have figured out some new way of having the funds to do what they do best.
Here are a several ways to get funding for your startup”
Crowdfunding Ways to Get Funding
You’ve probably “backed” projects from sites like Kickstarter and IndieGoGo. These sites have started a new trend in what is called crowdfunding, seeking solutions from a large group, usually with an online audience. Many products and companies have successfully used these sites to raise money. By posting a profile and a video, you can have the help of others in your goal to get things started for your biz.
Here’s an example of a successful Kickstarter-backed project.
Competitive Ways to Get Funding
Did you know that you can pitch your existing business ideas for money? Entrepreneur pitch competitions put together by investors and angel investors have been making rounds in the past couple of years. With a viable product, you can pitch your business to a panel of investors and experts for cash prizes, investment deals, and consulting services.
Much like Shark Tank, these pitch competitions are sought after in the sense that they provide great insight, feedback, and connections. Check out Biz Plan Competitions to see if there is one near you.
Leasing Ways to Get Funding
Need equipment to get the ball rolling? Having the space and other resources to run your business is quite an essential part of making money. The Equipment Leasing and Finance Association can be an option for your IT resources, vehicles, specialized equipment, or software.
Ways to Get Funding from Programs
With loan limits having gone up, you could use the Small Loan Advantage program to get loads up to $250,000 with interests close to 2.75%! You need to be a business in an underserved market.
This happens because programs like the US Small Business Administration since the Small Business Jobs and Credit Act was signed into law in 2010.
Alternative Ways to Get Funding
Other places to look include On Deck Capital, for those who lack collateral and the credit history for their company. There is also Receivables Exchange, the eBay of receivables, and New Logic Business Loans for restaurants and retailers.
Now that you’ve seen other ways to get funding for your startup, check out Tractus Online and see how its team can help your business grown into a new frontier. All the help is out there, it is just a matter of finding it and letting it help you turn your dreams into reality.
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