|
We all know that money is hard to come by. But when you are trying to start a new business, you have to know where to come up with the money or your company will be going nowhere. But what do you do if you have bad credit or no credit? We can help you get the financing you need to get the ball rolling and you on your way to success. The first thing you need to know is what is a personal guarantee. This is essentially you telling the bank or other lender that you will personally back the amount of money your company borrowed if it should fail or cannot pay the loan back on time for some other reason. You are "personally guaranteeing" the loan. So what does this mean for you? It means that if you are unable to personally back your company's loan, you will have to seek out other means of getting the money. There are numerous other options, one of which is to have someone else cosign for your loan. A trusted family or friend who has good credit may be convinced to come on board as an investor with your company, and that person would sign as the guarantor. And they can often be a source of creative input for which direction to go with the business as they have a personal stake in it. One popular means of seeking funding which is particularly seen in technology-based industries is to sell equity in your company. By selling full or partial ownership in your business to a third party, you receive the funds you need to get the ball rolling and you stay on to collect a salary for running the company. And if things go wrong, you are not personally responsible for the company's finances. Dot com companies are notorious for this kind of financing and it can be an attractive option for both parties, as you are an expert at whatever your company does and the backers are professionals at managing the money. A last resort may be that you have to put up some of your own money in order to get your company off the ground. If this is your only option, it helps if you have some money saved up. But you may have to take out a mortgage on your home or sell some of your property or valuables. The one thing you don't want to do is leave yourself with nothing, because no business venture is guaranteed to succeed. Whichever route you end up deciding on, we can help you fulfill your quest for business funding in the shortest and most pain-free way possible. We know business financing and we can help you make the the most of the options that are available to you and help you open the door to new possibilities you never thought of. There's no better time to start your business. Contact us today. Are you looking for information on get the financing? Visit http://business-loan-secrets.com/ to learn how!
Related Articles -
get, the, financing,
| 
