I'm looking to start a business with this amazing idea I have but sad to say my credit isn't the best. How can I find financing or Venture Capitalists and investors? I don't want my ideas taken over I just want an investor that believes in the product and the leadership behind it.
2006-10-30 05:34:19 · 2 answers · asked by Mic B 2 in Business & Finance ➔ Small Business
yeah I definately can't say the idea on here i'd have to make a confidentiality agreement with the whole internet..lol
2006-10-30 05:48:44 · update #1
You haven't said what the idea is so I don't know if people will invest in your idea the only thing you can do is try to find someone.
2006-10-30 05:38:05 · answer #1 · answered by Medical and Business Information 5 · 0⤊ 0⤋
Funding a small business is hard to do ... first steps in financing is usually using personal credit cards/ savings, once that is exhausted, the next step is family/friends who believe in your idea. There are SBA guaranteed loans available through your bank, but the bank will require that a percentage of the loan money comes from you ..IE .. if you want to get a loan of 10,000 for the business, 1,000 of YOUR money must already be invested in the business. A Bank wont lend 100% on any business. After you have been in business for a while or if you have a really good business plan, you can approach venture capitalist and "angels". "Angels" tend not to get involved with the day to day affairs of your business, but venture capitalist will.
Try using a resource on-line like entrepreneur.com to help you find the source that is right for you. Also, try the federal site grants.org to see if you qualify for any existing grants.
2006-10-30 05:43:25 · answer #2 · answered by londonhawk 4 · 0⤊ 0⤋