WAYS TO FUND YOUR BUSINESS

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Day after day, more people indicates the interest to start their own business.. In fact 70% of the people I know working in an organisation are doing so because they didn't have the capital to start up their dream business. But with the rate of unemployment, people are being inspired to start up a business no matter how little.. The biggest challenge is always lack of capital.

When you think of getting a capital, the first though that will come to your mind is a bank loan, and even banks hardly approve small business loans nowadays. So if your loan application was rejected, there are other things you can do to fund your business.

• But first, you need to check your loan application for any loopholes or any thing you missed out that probably caused your rejection and try applying again. You can also try going to another financial institution, most times a particular institution don't like investing in a certain business, so it could be that your business is one of them. So try another financial institution and who knows you might be lucky.

• I'm very sure you must have heard of peer to peer networks during the ponzi scheme days, but this is different and professional. There are investors willing to invest in businesses, so I came across some networks during my research and so far they look good, though I haven't tried them yet. You can check them out, lending Club, Prosper, Upstart. Kindly leave a feedback if you've tried any of it before. These platforms connect business owners with investors.

• My favorite is Angel investors, i recently read about them.They are super wealthy people that lend capital to startups with the expectation of high returns on their investment, they usually invest in the type of businesses in which they are professionals in. Though they require high returns from you, they will make sure you succeed, this is why they invest in businesses in their industry. In other words, they serve as both investors and mentors always willing to push you to the right direction. With an Angel Investor ,your business will most likely succeed, all you need to do is to get them to like you enough to give invest in you.

• Finally, if you have valuable assets, you can sell them and use the proceeds to fund your business.. I also found out that you could sell your life insurance policy, well if that is a risk you are willing to take for your business, then the ball is in your court. Or you can just sell your assets if you don't want to deal with being indebted to people..

If you know of any other way to raise funds, kindly share.. I am very much interested.

Thanks for reading..

posted on whaleshares.io