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Some Creative Methods To Get Funds For Your Startup

You have seen some creative methods to get funds for your Startup I haven t spoken about angel investments, startup incubators, etc

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Some Creative Methods To Get Funds For Your Startup

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  1. Some Creative Methods To Get Funds For  Your Startup    Every startup owner has to seek funding options from time to time.  From new product development to backing your business growth,  you need money for various purposes. Now, the traditional funding  alternatives may work for some entrepreneurs, while others could  have a problem in securing them. Some founders go for banks,  which later denies giving them loans. A crucial thing to understand  here is that loans are not that effective, and there are a lot of  creative alternatives for supporting your startup. In this article, I will  tell you some creative methods to ​get funds for your startup​. So,  let’s get started! 

  2. Top 10 Creative Methods To Get Funds For Your Startup  1. Personal Financing  Many startup owners may not find this one creative, but there is a  lot of creativity within it. See, you are the only one who decides how  to fund and how often to fund your business. No one is there who  puts restrictions on fund allocations. Thus, you finance your startup  the way you exactly want to do.   2. Friends And Family  There is no guilt in asking for seed capital from your friends and  family members. In most cases, they will likely apply their resources  to your startup. An advantage that exists with this option is these  individuals don’t ask for any financial contracts. But, a limitation is  they can offer funds that aren’t enough for your seed capital. Still,  friends and family members are ready to help you.  3. Personal Credit Lines  Almost every startup owner today is capable enough to apply for  personal credit lines. Anyone can obtain a credit card by showing a  few histories of his or her business. Many new founders have 

  3. launched their companies by using their plastic cards. With this  method also, you are the one who puts control of funds.   4. P2P Lending  It is a funding method where some people build an organization and  help each other. This world has a lot of examples of such  companies that started their journey with Peer-to-Peer lending.  Being a startup owner, you should follow such organizations so that  you secure some notable investments for your startup.   5. Crowdfunding  You may have heard about crowdfunding platforms where an  entrepreneur receives funds by offering some product samples or  incentives. There are hundreds of ​crowdfunding platforms for  startups in India​. Here, the more you are creative and promising, the  more investments you secure for your startup. Bring a brilliant idea  to them and ask to support it with their finances.   6. Microloans  Many organizations exist that offer microloan for new startups for a  considerable duration. Their primary goal is to promote every  business idea. Some of them can offer $35000, while others can  offer up to $50000. Entrepreneurs who fail to get loans from the 

  4. bank can go for this option. They will likely help you with some  significant investments in your startup.    7. Vendor Financing  Quite often, you require tangible products to fill your inventory, and  you convince vendors to yield your returns until you sell the  products. Vendor financing can make an extension of a month for  you, depending on the worthiness of your credit and additional  costs.   8. Purchase Order Financing  A common issue that arises among all startup owners out there is  they don’t have enough cash to create new products on a fresh big  order. In such a case, Purchase Order financing firms can help you  out. These organizations give funds to the suppliers, thereby  finishing the deal and benefiting your startup.   9. Factoring Accounts Receivables  This method is very much similar to Purchase Order Financing. The  only thing that makes Factoring Accounts Receivables unique is  they apply to all the due amounts not received from purchasers. For 

  5. startup owners that are looking to expand their startup in a short  time, this method is fruitful. Also, it won’t take too long.  10. Investment Retirement Account  Last but not least, we have an Investment Retirement Account. The  method is quite accessible to all startups owners in today’s  competitive time. In this process, several individuals who trust you  fund your startup for a particular duration. You can reap lots of  benefits from this ​business funding​ method.  Final Thoughts  So, in this article, you have seen some creative methods to get  funds for your new company. I haven’t spoken about angel  investments, startup incubators, etc. because they can take a lot of  time for new startups. They analyze your startup thoroughly and  come to a fair decision after a long time. You should know that a  delay can kill your chances to ​live your startup dream​. Many  startups failed just because their owners failed to make them  survive with seed capital in the market. Also, the market does not  favor some businesses. Lastly, I will like to say you should follow  these creative methods to start and grow your business as early as  possible.  

  6. Reference Url:- ​Startup Piasa 

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