Struggles of Finding Business Funding and Advice on What to Do
The current business climate and hailstorm economy have made it challenging for many small-business owners to find funding for their businesses. The huge wave of private-equity capital and venture capitalist has died, and traditional banks are no longer readily willing to lend a huge amount of money to start-ups or small business enterprises. Due to these factors, small-scale business owners must think outside the box to be able to secure their much-needed investment capital for growth or new ventures. Newcityfinancial.com offer small-scale entrepreneurs access to business funds and therefore enable dreams.
Top 3 Easiest Ways of Raising Funds for Business
- Online Lending Options
One aspect of living that technology and innovation have greatly influenced is the lending sector. Web-based lenders are capable of making decisions fast, so unlike traditional lenders, you will be able to get your money in the bank within a few days. They also don’t have the tedious paperwork and rigorous lending process that is often associated with traditional lenders.
- Business Development companies
Business Development Companies (BCs) can be an attractive source of funding for financial companies who have their books in order but have still been turned down by traditional lending institutions like banks due to their small size. BDCs won’t ask you for a personal asset as security and are capable of giving you larger loans, albeit at higher interest rates. A good example of BDC is venture capital teams which are always willing to support small companies in promising markets.
- Government Grants
An attractive funding option for businesses in certain industries such as research-based industries or biotech is government grants. Business owners who lead start-ups in cities with college or university campuses can also seek funding form the research centers of these institutions. To benefit from grant lending, you should prepare a captivating presentation about your business and you will also be required to make a formal application.