Small Business Startup Funding Sources

finding the money to start a small business is one of the toughest challenges in entrepreneurial face will tell you the most common sources of capital in today’s small business report certainly funding for

small businesses is an age-old problem and challenge for small business owners mark hogan president of small business at Bank of America breaks down the sources of funding into three categories the first is personal capital

I’m talking about things like personal savings friends family relatives that are willing to invest in the company that’s also sometimes called love money it’s not easy to attract investors to a start-up but people you know might share your confidence and give

you a shot the next most common source of funding is consumer credit the most common forms certainly could be credit cards could be home equity loans or could be mortgages you know basically using a consumer product to fund a business and the last place a small business owner often looks for money the third category is business credit alone in the name of the business most likely backed by a personal endorsement as well this can include a business credit card which acts much like a consumer credit card only it’s in the name of the business eventually as the company grows that category might also include a business line of credit for a business loan for SM small viscom I’m Colleen today’s