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Raising Money

Are you raising capital the best and fastest way possible? Other than using your own savings, you can fund your business by borrowing from friends and family and applying for bank loans. Borrowing can be tricky though, especially when it involves personal relationship's and debt you're hoping to pay off through a business that hasn't taken off yet. Here are you three fundraising alternatives that don't endanger your personal relationships and don't take too much time away from actually running your business. Take Credit. For business that use tangible assets (like furniture, computer hardware, food and restaurants among others), owners can arrange for 15-30- or 60 - day payment periods with trusted suppliers.This arrangement buys you time to generate business revenue before paying off the raw materials you used. Term payments also help you to stay liquid as you don't have to pay your suppliers as soon as their deliveries are made. Trade credit doesn't happen overnight however, and you can only ask for waived interest and penalties if you've already established a relationship with suppliers. If you're just start out, you can try tapping your neighborhood retailers to partner with you or recommend you to their wholesaler. You could go as far as providing a business plan, proofs of billing and payment, and collateral to show ability to pay. Social Funding. Remember when lending was base on trust and reputation and not on bank history ? Imagine the community lender knocking on your neighbor's door to ask about your lifestyle and how trustworthy you are; your neighbor testimony then serve as the lenders basis in giving you money. It's microfinance in a social media environment and a lot of members have been using the credibility they built on lending to borrow money for small and sideline businesses. Crowdfunding.No longer limited to funding artistic pursuits, crowdfunding has also benefited startups both in terms of raising capital and branding . Crowdfunding is an internet phenomenon that entails fund-raising from several-often many-individuals who believe in youy project.

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