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Finding the money to get a new business started is never easy. You scrimp and save to get your dream company rolling, but inevitably find yourself in need of more business funding. We can help. We know that the reason a lot of people start new businesses is because they are hoping to find better things in life, and they often do not have a lot of money to spare. If you were already rich, you wouldn’t need to start a new business, right? The first thing you need to realize is that traditional forms of lending normally require security of some kind. It is difficult for a lending institution to justify putting substantial sums of money into a venture that has an unknown chance of success. Usually they want the borrower to assume some of the risk by either putting up some collateral or offering a personal guarantee. What is a personal guarantee? Ordinarily is company is responsible for its own losses, especially if it is a corporation or limited liability corporation. However, in order to push some of the responsibility for the loan onto the proprietor, the bank may ask you to personally guarantee the loan. This means that if the company is unable to pay back some or all of the loan, you will be personally responsible for paying it back. This can make it easy to get a loan if your credit is good, but not so easy if you haven’t been able to establish a solid credit rating. One way around this is to seek other forms of financing. These include microlending agencies who lend smaller amounts of money than do banks, typically up to five thousand dollars. This can be an attractive option if you run a service business that does not require a great deal of upfront capital. Microlenders are usually small companies themselves and often only require you to demonstrate that you have a checking account and a steady income. Some require you to put up some collateral, but at least you won’t be putting up your house for a second mortgage. Another option is to sell equity in your company. If you can find an investor to buy out all or part of your company, you can pass the financial worry onto them and focus on the task of running your company. With this method the only thing you have to worry about is making sure you keep the business successful so you don’t lose your job. There are endless possibilities in finding business funding without having to put your personal credit on the line. All it takes is some creative marketing to find the right people who are willing to put up the capital to take advantage of your energy and motivation that could bring them a huge return on their investment. We can show you everything you need to do to get people interested in financing your new company. Contact us today and find out how. Are you looking for information on business funding? Visit http://business-loan-secrets.com/ to learn how!
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