First is startup financing. If you have come up with an idea for a business your next move will be business funding to start putting things together. After all, money is what will help you to make your business idea a tangible one. The first place you can start looking is on the SBA website to look for local entrepreneurship programs that will offer you advice on getting started. After you have gotten past this hump you will be able to get started looking for other business funding resources.
You will also need to start getting your business equipment together. You can often lease the equipment that you will need to get you started. Once the lease is up you have the option of buying the equipment at the fair market value or you can lease new equipment. However, if you are starting a small business on your own credit card, then this may not be an option due to the high interest rates.
Another way of achieving business funding is through the Community Development Financial Institutions. They are certified by the U.S. Treasury and are able to give special financial products to any businesses that are located in underserved areas.
How this works is that a community makes viable loans to those businesses that will be able to help the area they would be located in make it better. These types of business funding help the business chosen to get their location, purchase equipment needed and other funding that helps provide people with jobs.
Lastly are the microloans. These loans are small loans that are offered to small business owners. The loans can go up to 50,000 but usually are around 13,000. This type of business funding assists with capital, inventory, furniture and fixtures and other necessary equipment that they business will need in order to get started.
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