By Jeanmarie Tenuto
Let’s get down to the bottom line. If you are starting a business, you may need money. The amount of money you need depends on many variables. The amount of money you borrow must be based upon how much money you need to make more money. Sound confusing? Well, it can be — but there is help.
Your local NJSBDC office can help you unravel the definitions, process and planning needed to take you to the next level. For those seeking a capital infusion, one of the first and foremost questions asked today is what type of fundraising is best for your business? There are so many factors to consider. Choosing the right path to raise money can be overwhelming.
To help you navigate your way around different fundraising ideas, we highly recommend you make an appointment with your local NJSBDC Center to dig deeper with an expert counselor. The list is long and the NJSBDC counselors can assist you to define the various paths you can take so that you can evaluate the best option for you and your business.
Here is a short list of topics you can research and discuss with an NJSBDC counselor regarding strategic business financing, loans and structure:
- Eligibility (and the How-to’s) for Grant Funding
- The Basics of Startup Financing
- Raising Money from Friends and Family
- Getting Started with a Loan from the Small Business Administration
- Bank-Term Loans
- Small Business Administration’s (SBA) 504 Loans
- Private Loan Guarantees
- Asset-Based Loans
- Using Credit Cards to Fund Your New Business
- A Guide to Private Equity
- Home Equity Financing
- Getting Started with Angel Investing
- Institutional Venture Capital
- Taking Advantage of Government Venture Capital
- The IPO
- Community Development Financial Institutions
- Business Incubators
- Leasing Business Equipment