What is the best way to get money to start a new business (besides bank loans?)

1. 80

   Earl S. Wynnposted 13 years ago

   What is the best way to get money to start a new business (besides bank loans?)

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2. 57

   dablufoxposted 13 years ago

   Ebay, if you have any stuff  that you don't need ebay is a great way to make some quick cash. Also you could ask your family members if they have some stuff they have in their shed their looking to offload and offer to put on ebay for them and take a small commission.
   
   Also you could flip some websites, you don't need any start up capital just some time to develop the sites themselves then sell them on Flippa.

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3. 61

   Rabid Pumaposted 13 years ago

   If your idea and your business model are solid, find some investors.

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4. 0

   Paul Cheslerposted 13 years ago

   Your chance of getting a loan from the bank, especially now, is bad unless you have excellent credit.  Credit, of course, is not paying 30 days or more past the due date, keeping up monthly payments, and not blowing off your payments totally(defaulting).  I have heard that the SBA does loans, and there are things called micro-loans out there for people who are trying to start new businesses.  Have you tried networking?  Good luck!

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5. 57

   foreignpressposted 13 years ago

   Have somebody else, who already has established credit, get a line of credit in their name. Then sign a legal document that you will pay back the money to them (not the bank) over a period of time. They then pay the bank plus the interest rate and pocket a small profit. No handshake agreements here. This must be legal and binding. But the secondary borrower never deals with the bank. There are people who will do this (besides parents or friends), and oftentimes they charge a higher rate of interest than a bank because the borrower is high risk. And, yes, they should pocket a small profit from this for taking a chance on a risky borrower. In the meantime, you get the seed money you need. Beware of loan sharks.

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6. 67

   skgraoposted 13 years ago

   Visit India and stand near Govt Regional Transport Officer and see business on road earning Rs.3000 per day.
   Any other place will be even a post office.

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7. 58

   naijenniposted 13 years ago

   Why not create a simple business plan and have an informal lunch and put the proposal forward to your friends and family. They are the closest to you and if you have something which is worthwhile in investing..why not.
   
   Of course there will always be risks involved but believe me when I say you can lose $100,00o of your fathers money not the bank!!!!

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8. 57

   b.p.turnerposted 13 years ago

   In all honesty, you can go a few different routes here as some other have listed below. Initally, start with a business plan and make sure that it is solid. After getting that done, do your best to figure out your real costs to operate this business. Although you may be over or under, it is still a good idea to know where you are. After doing this, you can now start looking for the money to get up and running. One suggestion I have is to look the Small Business Administration through the government website. There you will find a lot of tips and tools regarding loans and how to get money.

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9. 61

   Sun Pen 50posted 13 years ago

   I think the best money to start a business is your savings. That way you are sure to succeed. With other people's money you may not be careful and more chances for failure

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10. 59

    FrankSBposted 13 years ago

    If you have a good business idea, maybe try and find some investors.

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11. 61

    rweltonposted 13 years ago

    ...assuming you are only considering safe and legal options (if not, that would be an interesting hub question with some wild answers)..like turning your internet hacking skills into a front page wiki-leaks media frenzy...etc.
    
    
    
    1.  Facebook/Twitter, etc. tweeting a compelling ask for investments....a dollar each from the 1 million "fans" of Whole Earth foods would be....hmmmmmm?
    
    2.  Having a hot product or service, with a proven market expanded....here are a few I have watched become successful:
    
    *a Flower roadside bucket stand turns into a floral shop
    
    *a craft fair booth selling handmade burritos turns into a restaurant & catering business
    
    *a mobile coffee cart turns into a chain of pastry/espresso shops
    
    * a pro-bono (free) service that creates buzz and demand and turns a profit if you are good.
    
    ...and many more (waiting for your blog on this when the answers fill up the page...)
    
    rw
    "I not only use all the brains that I have, but all that I can borrow." – Woodrow Wilson

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12. 59

    RapidJunctionposted 13 years ago

    sell on ebay
    get good friends involved
    go for venture capital
    get a distributed loan from ur parents n siblings at the same time
    make a facebook appliation if u r a programmer
    if u can manage try the baking course or hairstyling course and work part time
    think when u r alone-make notes-compare them-and never loose hope-its a real money
    
    cheers
    dany
    xtremeviral.com

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13. 75

    brandonfowler66posted 13 years ago

    Investments, from friends, family and your local community.

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14. 50

    Nedelcu2010posted 13 years ago

    In reality, loans are a great way to be able to enjoy the major comforts of the day without having to save up enough to pay for all of it up front.
    
    http://hubpages.com/hub/-Secured-Loans

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15. 59

    jonywokerposted 13 years ago

    Find best way to get money to start a new business? visit gallery finance & get best benifits with secured loans.
    Apply now for flexible secured loans and homeowner loans at Gallery Finance. they provide loans for debt consolidation,home improvement and much more..
    
    http://www.galleryfinance.co.uk/

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16. 50

    brainlara2011posted 12 years ago

    
    
    If you want to start a new business and looking for the finance then bank loan is the best way to getting it.For more detail on related secured loans you should visit - http://www.galleryfinance.co.uk/secured-loans/

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