Home Business Ideas- creative financing options
Home Business Ideas- creative financing options
or better put: How to get the cash you need to get your business rolling!
So you know you need some extra cash, and a side business is perfect for you. But there is one problem:
You dont have cash. Or at least as much as you would desire to get your business jumpstarted. So what to do???
FINANCING OPTIONS FOR HOME BASED BUSINESSES
"Dont laugh- we are gonna explore alot of odd ideas here..!"
10 Options for your Home Based business loan:
1) Family loan. Get out your notepad and jot down everyone in your family. A family loan can much more desireable than an institutional loan.
2) Friend loan. Same as above-get a pad and start jotting down everyone you know who can possibly help in part or better.
3) Bank loan. Had to include this one eventually. Personal loans that are unsecured are hard to get. Try to avoid this option if you can!
4) Equity loan(against property/home etc) These are usually easy to get, but dont do it unless you are prepared to see your business through and have done all your diligence!
5) Grant. Your state might be giving a grant for your business...industry etc. Research your home state and see if anything exists..you might be surprised!
6) Paid training (free money-not a loan!) If you are ex military, displaced worker, recently fired or laid off, you might be entitled to free paid training by the state. Contact your local unemployment department or VA if you are military to find out more information.
7)Liquidate assets. Might be painfull, but if you have an extra car, or ANY asset that has value, list it on Ebay etc etc and convert it into cash. This idea is often overlooked but can be very attractive when all is said, and DONE! I had a friend who was a video movie collector..long story short..$3000 later he had his home business start up cash, and renewed his video library only 10 months later from profits from his new business! It CAN be done...
8) Get a real part time job and apply all the wages towards your new business.
This also might be painfull, but always remember why you are doing it and it is a short means to a great end!
9) Credit cards. Watch your rates, and other than that, you could create your own financing simply by using credit card(s). Be sure you have backup resources to pay for them in the event your business takes longer than expected to grow!
10) Pick a business that costs zero to start. I know you might think this is crazy, but they ARE out there. Hint: Most of them involve the web/internet!
Stay tuned for more Home Based Business Ideas!
or better put: How to get the cash you need to get your business rolling!
So you know you need some extra cash, and a side business is perfect for you. But there is one problem:
You dont have cash. Or at least as much as you would desire to get your business jumpstarted. So what to do???
FINANCING OPTIONS FOR HOME BASED BUSINESSES
"Dont laugh- we are gonna explore alot of odd ideas here..!"
10 Options for your Home Based business loan:
1) Family loan. Get out your notepad and jot down everyone in your family. A family loan can much more desireable than an institutional loan.
2) Friend loan. Same as above-get a pad and start jotting down everyone you know who can possibly help in part or better.
3) Bank loan. Had to include this one eventually. Personal loans that are unsecured are hard to get. Try to avoid this option if you can!
4) Equity loan(against property/home etc) These are usually easy to get, but dont do it unless you are prepared to see your business through and have done all your diligence!
5) Grant. Your state might be giving a grant for your business...industry etc. Research your home state and see if anything exists..you might be surprised!
6) Paid training (free money-not a loan!) If you are ex military, displaced worker, recently fired or laid off, you might be entitled to free paid training by the state. Contact your local unemployment department or VA if you are military to find out more information.
7)Liquidate assets. Might be painfull, but if you have an extra car, or ANY asset that has value, list it on Ebay etc etc and convert it into cash. This idea is often overlooked but can be very attractive when all is said, and DONE! I had a friend who was a video movie collector..long story short..$3000 later he had his home business start up cash, and renewed his video library only 10 months later from profits from his new business! It CAN be done...
8) Get a real part time job and apply all the wages towards your new business.
This also might be painfull, but always remember why you are doing it and it is a short means to a great end!
9) Credit cards. Watch your rates, and other than that, you could create your own financing simply by using credit card(s). Be sure you have backup resources to pay for them in the event your business takes longer than expected to grow!
10) Pick a business that costs zero to start. I know you might think this is crazy, but they ARE out there. Hint: Most of them involve the web/internet!
Stay tuned for more Home Based Business Ideas!
posted by fatass at 10:46 PM
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