Logistics Funding

Archive for the ‘Business’ Category

Accessing credit can be difficult for small business owners in today’s market. It is however a risky move to finance your business venture based on personal finances. For those who are lucky (or smart) enough to have saved in the good times, personally financing a business can be a great way to start up, expand, or purchase an existing business.

However for business owners looking to risk personal assets, I advise them to think twice before doing so. Banks are very quick to ask business owners to stake their homes on their business. The truth is that many are able and willing to do so, but it’s not necessary. Here are some great ways to access financing without mortgaging your home

Credit Cards

Specifically business credit cards, I’m not talking about maxing out your department store credit cards for inventory in your store. Check out the business credit cards on credit.com.

Small Business Loan Alternatives

There is a great alternative called a business cash advance, think small business loans, but faster. They can be more expensive than a traditional loan, but you can usually negotiate.

Equipment Leasing

If your financing needs are center around commercial equipment and you business has been established for at least 2 years, than a business equipment lease may be a great option.

Friends and Family

Don’t be ashamed to ask. May be better to get some cash from a friend or a family member.

Do what you can to explore any option that doesn’t involve risking your home.