Business Funding Options

Daniel asks…

How do I get funding for my small business?

I’ve come to the point where I’m expanding, and need assistance to do so. I’m assuming loans are my only option. Any tips, suggestions, etc.?

admin answers:


I know that there are a lot of really great programs now for small business start ups.

Carol asks…

Business funding at sixteen?put in wrong section last time?

I am setting up an online advertising business i thought id wait till 16 to see if there are anymore funding ops open to me wud involve quite hi tech site need around 30000 is a loan w/guarantor an option which banks r likely to do that and any other ops links would be very helpful

admin answers:

Your age is not relevant; you can get a
relative to sign anything needed.
What you most need is to show someone
that your service WORKS. If it is on the
net, it will not have to cost you out of
pocket, just get a coder to work with you on spec.

If you want to give me a better idea
without giving me the whole ball of wax
i can advise you further.
Make sure your adult mentor/parent
contacts me directly before you do.

John asks…

I need $12k to $15k to start a business. What grants or investors or other options are available?

I need $12,000 to $15,000 to start a business. What are the easiest, fastest,LEGAL ways to get funded? Possible payback in 12 to 24 months or less.

admin answers:

Credit cards. Not the most advisable given its high cost, but credit cards are the fastest and easiest way. And it is commonly used by many startup entrepreneurs.

Or check with microloan providers. They typically fund up to $30K Read about the SBA Microloan Program

Some banks extend what they call “small business lines of credit” often through credit cards. Those are easier to get and can be based on your credit history alone. They typically are up to $100,000.

For example, Wachovia’s has various business lines of credits,,446_612_1399,00.html Their business line of credit can even be approved overnight,

But not grants. It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for starting a for-profit business.

One possible exception is for companies developing or exporting agricultural goods, including food and forest product. Another exception could be the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs , which fund the research and development of technological innovation that meets specific government needs.

Your best bet actually will be from the states if they offer grant programs for women (or any other special interest groups — minorities, women, disabled, veterans, etc). Or check with non profit organizations, particularly women organizations if they offer grants. Examples include

Iowa Women’s Foundation
New Mexico Women’s Foundation

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