As a consultant, I have clients asking for my advice on where and how they could get funds to capitalize their businesses. If you have an IRA, 401(k), Keogh, SEP or other retirement plan, you’re sitting on a potential goldmine, because those funds can be used to either buy a business outright or to leverage a loan that will let you secure the enterprise of your dreams. And in case of personal transfer, when the money comes in through a PayPal account or bank account, fee is waived off.
Unlike personal account, this type allows the user to access to varied merchant services like invoicing, procession of credit cards, and has features such as shopping cart, and payment reporting tools. The government also offers money for moms who are willing to start their own businesses, and become entrepreneurs.
Foremost, you can seek a small business loan that will provide you with ability to launch or expand your business without having to sell a portion of your company to a third party. It is an amount of money put aside by the business, to deal with the losses that may arise when the debtor is displays his inability to pay up.
Your business plan or proposal must indicate the full amount of loan, date and time the money is needed, how you intend to use the cash, date and time you plan to repay the loan, and the collateral whether share or bond certificate, property, fixed assets etc.
While this makes more sense than building a business on a deck of credit cards, the financial risks are no less abundant. It is said that there are a lot of offers if you are a woman and open a business, frankly, this isn’t true, women are having just as many troubles finding the funds as well.
