Are you struggling to figure out how to get your new business off the ground with little to no money to invest in it from the start? If so, you can join the 43% of small business owners who have found it difficult to find ample financing for their businesses. But, just because it’s tough doesn’t mean it’s impossible. Some of the best ways to raise capital to get your new business moving are also some of the simplest ways that can keep your business afloat for years to come.
Use Your Own Available Resources
Most people forget that some of the things they already own are their best resources for finding money to fund their businesses. For example, title loans in Memphis can give you quick, temporary financing for your business by letting you borrow some money against your vehicle. You can often take loans out against your home equity, too, if you have enough invested in it.
Think about the assets you currently have, from retirement accounts to life insurance. These are all possible resources for borrowing some money when you’re in a pinch. Just be sure to put everything you borrowed back into them, plus interest, as soon as you start making money from your business.
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