Jun 23, 2021
When you find yourself in need of working capital for your
business, what options are available? Today, small business owners
have no shortage of options and it can be overwhelming to decide
which one is best. This is a GOOD THING!
In this podcast, we share FOUR different ways to fund your growing
business.
Here they are:
✔ Alternative Lending – Traditionally, small business owners have
turned to banks or credit unions for loans, lines of credit, etc.
While working with a bank is still a preferred option, what happens
if you don’t meet their strict requirements or timing is an
issue?
✔ Invoice Financing – Do you have unpaid invoices? The fact is late
payments and overdue invoices can cause a serious cash flow problem
for a business. A financing solution known as invoice financing or
accounts receivable financing, allows small business owners to free
up unpaid invoices.
✔ Revolving Line of Credit - Business credit cards. They are easier
to get than you think and often do not rely on, or impact, your
personal credit score.
✔ Self-Directed IRAs and OPM (Other People's Money) - With
self-directed transactions, the account holder/investor works out
all the terms with the other party. You can be fairly creative
structuring business loans with self-directed vehicles.
Each of these methods can get you the financing you need to grow
your business. Pairing two or more can really leverage your
power.
If you'd like to meet with Beau to talk financing, book a
call here
( http://bookwithbeau.com/ )