Creative Financing Options For A Small Business
There are a wealth of business opportunities on the Web. Some of them are in the form of network marketing, while others are affiliate opportunities. Then there’s the options one has of building their own small business through selling products or services online. Either way, when one partakes in Internet business opportunities, they need a way to finance their enterprise. This is because even if a small business opportunity is free, there are still expenses associated with marketing.
Fortunately, there are several alternatives available for Small Business Funding.
Credit cards
Credit cards are a widely accessible funding option for small businesses. There are even credit cards available specifically for businesses, though you will usually need to have a business license to acquire them. This can be a problem for those utilizing business opportunities that do not require licensing. In these situations, one may want to use a personal credit card. Personal credit cards can have limits almost as high as business credit cards, plus they can be used for other expenses.
Cash advances
This is useful for small businesses that are licensed and accept credit card transactions. What happens is the company issuing the business cash advance purchases a portion of your projected credit card sales. Credit checks and business plans are not required. Payment made from a percentage of sales that are made. It’s a small sacrifice to get tens, hundreds or even millions of dollars upfront. The only downside is that a small business will need to acquire a small amount of success before they can qualify for the advance. Most companies are looking for a small business to earn at least $2,500 a month in credit card sales before they will consider taking the risk. Additionally, the small business must be a licensed enterprise, and not a business opportunity scheme.
Home equity loans
Unlike business cash advances, home equity loans can be used for both small businesses and business opportunities. Best of all, home equity loans can offer huge amounts of money. It may not be as large as a business cash advance, but it is still more than enough to handle marketing expenses, especially if one is utilizing a free business opportunity. However, entrepreneurs will need to have good credit. If they don’t, they can consider looking into subprime refinancing mortgages, though these can be extremely hard to find.
In conclusion, through credit cards, business cash advances, and home equity loans, entrepreneurs can easily fund their small businesses or business opportunities without worrying about any extra hassles. In fact, these venues are so useful; entrepreneurs may never need to worry about acquiring business loans, grants or any other financing option that is harder to get.
