Let’s start with two quotes. “Ideas are such funny things; they never work unless YOU do!” “Ideas are capital that bear interest in the hands of those willing to work on them NOW!” WHAT KIND OF LOANS CAN YOU GET FROM VENTURE CAPITALISTS? It’s true that venture capitalists do indeed give loans as well as […]
In talking to thousands of BWBs all over the world, I notice that many, many of them lack boldness and imagination when it comes to borrowing money. Now, I’m not being critical of these BWBs — just observant and helpful. Controlled and polite boldness can be one of your strongest assets when you’re seeking OPM. […]
A question that is often asked is, How much OPM can one get for one’s business venture? “Are you talking about a few hundred dollars, or a few thousand?” you ask. “After all, the amount can make a big difference in my business deals.” That’s a fair question, from an intelligent reader. It shows that […]
Let’s use the worst-case principle to explore ways you can obtain capital without a credit rating. I’m not saying you find it impossible to obtain credit — we’re talking about Mr. Worst Case. He’s a guy who really needs help. All of us can learn something from his experiences. Mr. Worst Case needs what for […]
When you’re reaching out to banks and investors to inject money into your business venture, it’s time to make sure you have all of your key pitch assets in order. Most of these assets are built from the same basic content and are simply reworked to fit different needs and requests. Once you have the […]
Let’s talk about money — borrowed money or Other People’s Money (OPM). It’s a subject that always interests people because money is the fuel that drives the engine of business everywhere in this world. Without money business would stall. Often, I’ve mentioned that the loan supply is like the weather: changeable. Recently, money tightened up […]
The Small Business Administration’s new Lender Match service helps businesses and real estate seekers connect with potential lenders in an efficient manner. By answering a few questions, applicants are matched with interested lenders within two days, facilitating loan application and discussion. Before engaging, businesses should prepare by having a business plan, understanding their funding needs, credit history, financial projections, collateral, and industry experience. This preparation boosts the chances of successfully securing an SBA-backed loan.
Small Business Development Centers (SBDCs) offer extensive support to small businesses and entrepreneurs, providing free consulting, low-cost training, loan assistance, and numerous resources for business growth and competitiveness. With over 700 locations across the U.S. and its territories, SBDCs are accessible and partnered with universities and state agencies, fostering business achievements.
P2P lending allows individuals to borrow and lend money directly online, bypassing traditional financial institutions. It offers benefits such as lower interest rates, quick funding access, and the potential for lenders to earn returns of 7-14%. Borrowers can secure loans without collateral, often for varied personal uses. As the practice grows, both parties are advised to understand the associated risks and regulations. Popular P2P lending companies and crowdfunding websites operate globally, providing platforms for these financial transactions.