Funding your G-Business

Remember, that this is your business. Think big and take it to its limits. It is your choice to begin funding simply to “get started” or to advance to the point that you are operating profitably.

The options listed below are just that….options! You must decide for yourself, which avenue is the best for your individual situation and is most affected by the amount of funds you feel you will need to officially be “in business”.

1. A Business Loan. Visit your local bank to see what options they offer to small business owners. If you have a long-standing relationship with your bank, they may be the right choice for you. A lot of banks have business “packages” available and they do want their clients to take advantage of all the products that the offer.
2. Credit Cards. They aren't terribly creative but credit cards are quick and easy. Consider a no interest card that you can use for a period and pay it off immediately. This will help build good credit in your Company's name. Visit your local bank where you have your Business Account. They may offer a deal just for using several of their business services. Be cautious, however, that you only use this for business expenses. A Company credit card also allows you to track your lunch meetings with clients and those visits for smaller business needs.
3. A Home Equity Loan. This allows you the most control. You will be amazed at the amount of equity that you have if you have lived in your home for a while. Be sure that your loan meets the needs of your company without over-extending your budget. In addition, check with your accountant, this can be a tax write-off, which is also an advantage to your business.
4. Sell Assets. If you own things, you can sell them! It's that simple….one great asset is a nice, late-model car. You can sell it, lease a much less expensive car, and use the cash from the sale as an investment in your company. Again, check with your accountant to ensure that the Lease payment is a tax write-off, again beneficial for your business.
5. Friends and Family. This can be a great course of capital. However, be careful that you first have an agreement in writing so that there are no misunderstandings. Emphasize that your agreement is a debt (loan) rather than equity (ownership). Never forget that it is your business and you want to repay family members immediately . Remember that friends and family are more likely to think with emotion rather than logic so protect you. Visit www.Circlelending.com to find out more about this option.