| The most common road block to starting your own | | | | committed to realistic payments. Your business idea is |
| business is money. Unfortunately the freest way to | | | | great and the business will soon be profitable; you can |
| get money (grants) has miniscule availability for | | | | afford to extend the loan a little while. However, if you |
| business start up plans. If you are a non profit | | | | lose the business because you can't make payments, |
| organization, the chance will be higher of receiving a | | | | there is clearly no success. |
| grant. However, most new businesses are probably | | | | An additional option is finding investors or selling |
| looking for profit. So how do you find money to start | | | | commerce stock. Investors can be very valuable |
| your business? | | | | resources, but keep in mind that any investor also |
| As mentioned, earning a grant is extremely difficult. | | | | becomes part owner. Before making that commitment |
| Two clear situations have grant possibilities. First, if an | | | | be sure the business's goals, values, mission and ethic |
| individual has a very clear purpose deserving of a | | | | are clearly described, written out and agreed upon. |
| grant, it is possible to receive one. Second, but also | | | | You started this business with something specific in |
| along the same terms, you may be able to receive a | | | | mind; don't hastily lose that to an investor. |
| grant if you are doing particular research with an | | | | Lastly, a viable option that may require some groveling |
| outcome that benefits a government agency. | | | | is to ask friends and family for their support. Friends |
| The Small Business Association (SBA) does not | | | | and family will know first hand how important this |
| typically help owners find a grant. They can however | | | | business is to you. If the financial and relationship status |
| be a great resource. If you access the SBA Web site | | | | allow for "donations" by friends and family, this could |
| you can find topics to help you with your business. The | | | | be a tremendous asset to your business. If you are |
| SBA also offers loans for your business that vary | | | | having trouble with bank loans, it may be acceptable to |
| from small to larger amounts. Use the Web to gather | | | | set up a loan type agreement between a friend or |
| loan information, ask questions and locate someone | | | | family member. This allows you to create a financial |
| near your area to assist you. If a loan via the SBA is | | | | plan that truly works for you, and may allow for some |
| not possible, research several bank opportunities. | | | | leeway if payment difficulties arise. Do not take |
| Banks have a variety of different loans available. | | | | advantage of this possibly good situation. Just because |
| You should be able to locate a bank that offers a loan | | | | the "bank" is someone you know or are related to, |
| fitting with your company's needs and financial abilities. | | | | payments made on time and of the agreed amount is |
| If you decide to take out a loan, make sure you have | | | | still crucial. |