5 Ways to Raise Cash for Your Start-Up Business

Starting a business can be one of the most gratifying experiences anyone can have.  However, it takes a little money to make money though and coming up with enough cash to get your business off the ground can be difficult.  There are expenses such as marketing, rent, payroll, and utilities that can add up fast. With little or no money coming in from the get go, stress can begin to manifest itself.

Here are five idea’s to help you raise cash and get your business up and running smoothly:

• 1.)    Borrow from friends and family.   Good old mom and dad can sometimes come to the rescue and help, or even your rich Aunt Sally.  When borrowing from friends and family, they will typically give you excellent rates and repayment options.  The only problem here is, if you run into trouble, you could have an awkward family meeting someday.
• 2.)    SBA Loan–  Some of the best lending over the past five years has been done with the many SBA loan programs that exist.  If you can obtain an approval for an SBA loan, expect low rates for long terms.  Contact your local banker for program information.
• 3.)    Use your credit cards.  Many business empires have been started with credit cards, but be careful as credit cards can be the end of you as well!
• 4.)    Keep your day job and save!  Yep, sometimes you have to do things a little slower than you may like.  However, taking your time and building up savings should be employed with every start up venture.
• 5.)    Finance and lease your equipment for your business.  Don’t use your most valuable asset (your cash) on something you can lease or finance with a leasing company.  Leasing is a excellent way to conserve your cash, but still get the equipment you need to run your new business.