Paul Green

Sources of Funding for Small Business

Once you have exhausted the 3 F’s (Friends, Family and Fools!) for funding your business – where else might you look? In the current climate, funding is still available, however the criteria for obtaining money into your business may be more stringent. Finance for business can be obtained through a number of different sources summarised below: Loans Loans are an excellent source of finance if you have suitable security to borrow against or a reliable earnings stream. This needs to be planned and presented well to obtain funds. Credit cards – Provides up to 56 days free credit if you play the game – otherwise the cost of borrowing is high and not recommended. Overdraft – Banks can be surprisingly supportive when presented with a well thought through plan; albeit the ... »