It is always a difficult question to start a project/ idea into your business; you would need funding for your business/ project. More than 30% of new businesses are started by women in US and very few like 5% receive Funds from the investors.
The good news is that the number of funding alternatives is growing and a savvy owner should do her research to understand the pros and cons as well as whether her business qualifies for these options’.
There are many more types of funding alternatives today than ever before. But with the proper research, there are certain to be alternatives to make your business dreams come true.
The ideal startup businesses use the following methods to fund themselves.
Bootstrapping – Many experienced business owners recommend funding the startup of your business from your own assets (“bootstrapping”).
Credit card debt – The most expensive but most common source of funding for very small businesses is credit card debt.
Friends and family – Another common way to raise startup small capital is to reach out to friends and family.
Factoring – Factoring is a process where a financial institution assumes your accounts receivables and advances you 70-80% of the total value.
Supplier line of credit – If you have a good relationship with your suppliers, you may request a line of credit so that you can receive goods and pay for them over an extended period.
Angels – Some investors are dedicated to empowering women through financially supporting their businesses. They typically want to enter at an earlier stage than traditional equity investors and may have an industry focus.
Grants – Look online for federal, state and local grants available to women and minority owned businesses. The Small Business Administration (SBA) and other economic development agencies are becoming more aggressive in offering small business grants to accelerate women’s economic growth.
Incubators – There are many business incubators and/or accelerators who invest in businesses with resources, mentoring and capital. Their purpose is to improve the likelihood and pace of growth for businesses in their industry.
How selective financial services can help.
Upon receipt of your professional project presentation, we will perform brief financial analyses. If your project qualifies, we will present it to the funding committee. Download these guidelines (below) to properly present your venture. If your project qualifies, we will request your business plan and have a look at the due diligence and an independent audit. If your project appears further feasible, we will suggest a funding strategy!
Selective Financial Services guarantees to get your project funded, if your bank funds you once a Bank Guarantee is received, and if can prove that you have at least 0,1% of the Bank Guarantee value in cash in your account right now.