Photo Credit: Federal Reserve Bank of Chicago, Eric Allix Rogers
Determine how much money you will need, and for what. Ideally, you should have already outlined your funding requirements in your business plan.
Now that you have properly assessed your business financial needs, take the time to find out all of your financing options (i.e. Self-Financing/Bootstrapping, Crowdfunding, Grants, Debt or Equity).
After deciding on the appropriate financing option for your business, prepare a business case, as well as any required documentation, including your business financials, for potential crowdfunders, lenders or investors.
Select the appropriate business financing provider, submit an application and all required documents.
After a successful funding effort, make sure to comply with any requirements of your funding agreement including repayment schedules.
Contrary to popular belief there are only a very few grants available to start and grow businesses.
Read The Truth About Free Government Grants.
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