Are you thinking about starting a small business but you have no idea where to get the cash from?
Before you go searching for money to start your new small business you should have a plan ready. If you are going to be lending the cash from someone they will want to see how you plan to make money and how you will pay their money back.
Once you have your plan all laid out you can start searching for someone to give you a loan. We recommend seeking out a business adviser to help you get what you need.
1. Bank Loan: If you have good credit and a great plan to follow you could take out a business loan from a bank, if you do not get approved for a business loan you could always apply for a personal loan.
2. Partnership: What about a partnership? For this we recommend legal consultation to avoid any mess in the future. A partner or investor will put up the money for you to start your small business, in return your new partner will take say 50% of the profit until the loan is paid off and will receive say 15% for 1 year after.
3. Last resort - Family: The great thing about loaning money from family members is the amount of interest you will be paying back to them. Usually with family you don't have to pay any interest back, therefore you do not have to worry about forking out extra money.
Make sure you have legal documents written up, there is nothing worse than fighting with family members over money.
Before you go searching for money to start your new small business you should have a plan ready. If you are going to be lending the cash from someone they will want to see how you plan to make money and how you will pay their money back.
Once you have your plan all laid out you can start searching for someone to give you a loan. We recommend seeking out a business adviser to help you get what you need.
1. Bank Loan: If you have good credit and a great plan to follow you could take out a business loan from a bank, if you do not get approved for a business loan you could always apply for a personal loan.
2. Partnership: What about a partnership? For this we recommend legal consultation to avoid any mess in the future. A partner or investor will put up the money for you to start your small business, in return your new partner will take say 50% of the profit until the loan is paid off and will receive say 15% for 1 year after.
3. Last resort - Family: The great thing about loaning money from family members is the amount of interest you will be paying back to them. Usually with family you don't have to pay any interest back, therefore you do not have to worry about forking out extra money.
Make sure you have legal documents written up, there is nothing worse than fighting with family members over money.
0 komentar:
Post a Comment