Startup business credit cards

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7 Recent Financing Methods for Startup Business

Online: Now online is very popular way to get business loan such as Start up Business Loan, OnDeck and Kabbage. It is different from traditional business loans. Online lending is very speed way to get loans. It only takes only 1 hour to complete a loan application. Traditional business loan take weeks, or even months to complete the process but online loans takes only 1 or 2 days to get loans. Now in USA more than 60% small business loans comes from online.

Factoring: Factoring is a popular method of obtaining working capital for startup businesses. It is not based on the business owner’s credit it depends on the quality of your clients. Click here “Factoring Your Accounts Receivables” to know more about factoring.

Product presales: You can get money by selling your products before they launch. It is highly effective way to raise the money for financing your business. It also ensure your business profit. If your product price is high you can get $1000-$50000 from your presales.

Friends and family: Borrowing money from friends and family is interesting way to finance your business. Also through this way you can avoid the hassles of bank contracts.

Home equity loan: If you are a homeowner, you have a chance to get home equity loan. The home’s value minus what you owe also it is a great option for financing a small business because home equity loans generally offer interest rates that are both flexible and lower than traditional commercial rates.

Selling assets: If you have any unused assets like cars, home, store etc, you can get money by selling your assets. It will not a big amount of money but you can get interest free business capital through this process.

Credit cards: Small business credit cards can be a quick way to get your business up and running. One of the advantage of this loan is low risk. Before applying for a credit card or a loan, pull your own credit. Also if there are errors on your report, fix them before applying!