Start-Up Funding New Rochelle NY

Every new business owner, whether he owns a small business or a large business, needs to find start-up funding for his new project. Start-up funding for any business, no matter what the size, can be challenging to find, but it is out there if you know where to look.


1 . Local Companies

Francenes
201-281-6427
POBox 673
Saddle River, NJ
Sansar Capital Mgmt Llc
(212) 586-0089
25 W 53rd St
New York, NY
Sports Capital Partners
(212) 634-3299
527 Madison Ave Fl 10
New York, NY
Infrastructure Funding Group
(212) 302-9000
1500 Broadway
New York, NY
Shac Inc
(516) 569-2211
406 Buckingham Rd
Cedarhurst, NY
Georgesan Shareholder
(212) 805-7000
17 State Street
New York, NY
Financial Services Plus Inc
(914) 576-2430
71 Huguenot St
New Rochelle, NY
United Equities Co
(212) 349-2875
160 Broadway Fl 1B
New York, NY
Senvest International
(212) 977-2466
110 E 55th St Fl 16
New York, NY
Mark Partners
(212) 372-2500
767 5th Ave
New York, NY

2 . Using Commercial Banks

When considering sources of funding, one of the first options that come to mind is to get a loan from the bank. This can work well, but there are several hurdles to overcome before your business will be approved for a loan. Commercial lenders are typically leery of loaning money to small business start-ups, because there is such a high chance of failure.

When approaching a commercial lender for funding, you will need a well developed business plan that shows when your business will be profitable. Also, it may help to have some sales under your belt before approaching the lender, as commercial lenders are looking for success. If you are given a loan from a bank, you may have to use some collateral of your own to get approved. If you put up your house, for example, to back the loan, the bank may be more willing to accept you because they have a way to get their money back if you should fail in your small business start-up. Of course, you then risk losing your collateral if you should not be able to pay back the loan.

Finally, your personal credit history needs to be clean when applying for start-up funding with a traditional bank. Since the bank has no business credit history to critique, your personal credit is the only thing that the bank can consider when deciding whether or not you are a good risk. If your credit rating is less than desirable, clean it up before applying for a traditional loan.

For Business Cash Advance Call 800-743-9439

3 . Using Your Own Money

Depending on how much you need, you may be able to use some of your own money for your small business start-up funding. Consider, for example, your retirement savings. If your business is a sure endeavor, you can open up your 401(k) or IRA early and use some of that money to start your business. However, remember that when you do this, you will be sacrificing your own financial security should your business fail.

Another option is to get a personal loan, not a business loan, to help you with your start up expenses. A home equity loan, for instance, is something you can write off on your taxes. This will only work for small businesses, however, because the large amounts needed for a larger start-up will not be available in personal loans. If you only need a few thousand to get your feet off the ground, you may be able to get a personal loan to cover this.

For Business Cash Advance Call 800-743-9439

4 . Tap into the Resources of Friends and Family

A third option you have for business start-up funding is to use your friends and family members. This does, of course, require that you have friends or family members who have some money to invest. If you do, however, you could offer them a decent return on investment if they are willing to loan you money.

If you do ask friends and family members to loan you the money for your start-up expenses, be sure to handle the transaction professionally. Treat your friend as if he was a banker, because that is how he is acting towards you and your business. Create a written contract that outlines how and when you will repay the loan. Be sure to set up a payment plan that is acceptable for both you and your lender.

Keep in mind that failing to repay a loan that you are given from a friend or family member could cause you to damage your relationship with that person. Be sure that the individual knows exactly what your business entails and what the risks are. Have a back up plan that you can use if your business does not succeed as you expect it to so that you can still repay your loved one.

For Business Cash Advance Call 800-743-9439
Related Articles
- Credit Repair Companies New Rochelle NY
There are more than enough references out there for finding a place to help you mend your credit. The internet is one source that is so full of information you may lose your way. When navigating the web, always start off with a very broad subject. A good start would be something like, repairing credit. Once your search brings up a page of choices, decide which sounds good.
- Disability Loans New Rochelle NY
- Government Grant Student Money New Rochelle NY
- Information on Education Loans New Rochelle NY
- Commercial Apartment Loans New Rochelle NY
- Merchant Cash Advance for Small Business New Rochelle NY
- Money Market Account New Rochelle NY
- Student Loans New Rochelle NY
- Raising Venture Capital New Rochelle NY