Startup Funding: How do you get your new business started?



Startup Funding: How do you get your new business started?

www.EagleBusinessCredit.com

#IanVarley #EagleBusinessCredit #EagleEye #StartupFunding

It’s Ian at Eagle Business Credit. So you’re
looking for funding for your startup
business. Well getting a business going
is hard enough in itself. It can be
overwhelming for a lot of people
especially when you’ve got to put
together a business plan. When it comes
to financing, startup businesses do have
a unique set of challenges. Often banks
it’s not an option. Unless you have some
serious collateral of a personal nature
to put down. They’re not going to fund
your business because they need a track
record. They need a balance sheet to get going.
So friends and family… they may be
able to help you with equity. Maybe
you’ve got an investor an angel investor
that can come in and help you to get
some equity to get going. But how much of
your company do you need to give up in
order to do that? You want to keep
ownership right? This thing is going to
grow and pay dividends for you down the
road. So I would be cautious to give up
equity too early when there are other
options. Factoring is a great one. Online
loans can be another one. With online
lenders you’re going to again need a bit
of a track record. Six to twelve months…
they’re going to want to see some
throughput of cash. With factoring, as
long as you have customers… as long as
you’ve decided to sell products, deliver
your service. We can help you. It doesn’t
matter if you’re a brand new business.
That startup phase… you’ll need a little
bit of cash to get going to make your
first sales for sure get that from
friends family equity short get going
that way then look at fracturing as a
useful alternative to fuel your growth.
It has basically no limit. It’s it’s in
line with your growth. It’s not like a
line of credit where you have to
renegotiate the facility and come back
to the well it’s time you hit that limit.
Factoring will grow with you and we’ll
support you all the way. Give us a call!

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