How Do You Raise Capital For A Small Business When Bank Loans Fail?
If you tried to get bank loans for your business and failed, you can still get capital for your start up business via a number of different methods. Read the steps below to find out how you can get capital for your business without the bank’s help. Try getting start up capital for your business from a Credit Union instead of the bank. You can possibly get a loan from a credit union because you’re seen as a member, not just a person – but it’s more likely you’ll be able to qualify for a line of credit instead to help earn capital for your business. Find microlenders. Microlenders are sources where you can get smaller “loan-like” forms of capital, and use a bunch of different sources to get the capital you need to start your business. There are a few websites, such as Prosper and Lending Club which allow you to easily do this. Ask your Family or Friends. Yes, it may be difficult, but you can actually ask for money from your family or friends. Of course, you’ll need to tell them what it’s
