Single mom, looking to start a business, any ideas on funding options?

Question

I am a single mom of 2 young children trying to make a better future for them. I was wondering if anyone knows of any programs that I might be able to take advantage of to get assistance in starting my business. Thanks!

Answer 1

it depends why type of business you would like to open. My undergrad is in marketing and small business plus i am a business owner. First ask yourself how many hours are you willing to work in a week, weekend? Then how much money you have right now as a down payment, then what type of business are you interested in.

Based on this answers then you have different financial options. One is in direct sales like mine (you can contact me at [e-mail] for more information).

If is nothing that includes alcohol and will promote the welfare of an area the city government and the SBA.gov can help you with subsidized loans. You can always opting a commercial loan and credit card.

Another way are partnerships, join the Maryland chamber of commerce talk to your county and state government about women in business meetings and see if they are looking for partners to open a new business.

If you need more information you can contact me or go to http://www.mdchamber.org/
or SBA.gov

hope the info helps

Answer 2

You can apply for a small business loan from a bank. But be aware that starting a business is extremely risky; there's a real chance you will end up broke and in debt no matter how hard you work at it. Small businesses have a very high failure rate.

If your children's future depends on your income, you're much better off getting a job.

Answer 3

Is there a Women's Resource Center in your area? The one where I live is called Mi Casa and they help with up to $3000 of startup fees. Also Small Business Administration is a valuable resource.

Answer 4

for one get on welfare if you are in a financial crisis