The Top 6 Ways to get Home Business FinancingWritten by Daegan Smith
Once you have identified ‘big ticket’ business idea that is going to work for you, it starts raining fire to get appropriate financing for your project. The keystone to building a successful business is your ability to raise hard cold cash. You may be planning a shoestring budget for your start up but even then every business needs some working capital for building inventory, registration fees, insurance, for buying office equipment, maybe even space. For a smart home business owner there are several ways to raise capital for start-up. We have summed up some of most obvious ideas for funding and some not –so-obvious ones as well. If you have a robust business plan at hand and can identify what is best source of raising capital for you, it shouldn’t be all that difficult to get someone to show you way to vault. 1. SBA Loans: The Small Business Administration is a government organization working towards promoting small and home business segment in US. Though SBA doesn’t issue grants or make loans directly, it is still one of best sources of funding for home business owner. The reason is that SBA guarantees loans made by private lenders to you as a home business owner. One of biggest problems you will face as a home based entrepreneur looking for funding is trying to prove you are not a fraud and have capability to return investors’ money. So SBA guarantee reduces or eliminates risk inherent in a new business venture, gives credibility to your business and makes it easy for moneylenders to forward money to you. For more information visit SBA site at: http://www.sba.gov http://www.sba.gov/financing/index.html 2. Commercial banks: Taking a loan from a bank is a good option because banks don’t require you to turn over equity or company control. However, you must have confidence and a strong plan to make your business start making profits regularly or else it can get sticky paying bank loan back. To get access to bank loans you have to have collaterals and must be able to prove your capability in your start up area. 3. Personal Saving: This is a favorite with a large percentage of first time entrepreneurs because it is easiest way to get money (if you have it!), and you have no liability to any outside lenders. So if you’ve been planning for your home business all along and have set some money aside, use that to kick start your venture. An ex-colleague who turned a home business owner recently decided to have a garage sale of all stuff they didn’t need in house anymore. I kid you not…they raised a sizeable sum in just one weekend!
| | Faxless Payday Loan - Faxless Cash Advance Loan, The Easiest Payday Loan ProcessWritten by Carrie Reeder
If you are in a hurry for a payday loan, last thing you want to have to do is fax in your documents of verification. That’s no problem, nowadays, you can find many payday loan or cash advance loan companies that can verify your income and identification without you having to fax in any documents.To see a list of recommended faxless payday loan companies, click on link toward end of this article. Payday and cash advance loans are good in a situation where fees you may incur not paying a bill on time, like rent or a credit card payment, exceed fees of a payday or cash advance loan, which usually range from $20-$30 per every $100 borrowed for every 2-3 week period. When you are in a hurry for money, you most likely don’t want to take time to fax in and gather documents. Most faxless or no fax payday loan companies will verify your income and other information by phone or electronically. Most payday loans will start you out with ability to borrow up to $500 in cash. You will need to fill out application and once you have been approved, funds will usually be deposited into your bank account on next business day. You will usually have 2-3 weeks to pay funds back in full. If you do need more time, though, most payday loan companies can grant you an extension as long as you pay interest due at time of due date.
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