I am looking for financing for an independent music label, but cannot seem to find resources for financing. I am looking for start-up finances, but all I can find are resources for small businesses that have already been active.
2007-01-15 04:18:06 · 4 answers · asked by Anonymous in Business & Finance ➔ Small Business
To get started, I suggest contacting the Small Business Administration Financing Page (SBA) – links below. Entrepreneur also offers a great site dedicated to money & finance – see below.
Research, research, research – this cannot be stressed enough. Read as much as you can. Here are some book titles that are relevant:
* Free Money for Small Businesses and Entrepreneurs by Laurie Blum
* Finding Money: The Small Business Guide to Financing (Small Business Series) by Kate Lister, Tom Harnish
* Financing Your Business Dreams With Other People's Money: How and Where to Find Money for Start-Up and Growing Businesses by Harold R. Lacy
* No Cash No Fear: Entrepreneurial Secrets to Starting Any Business with No Money by Terry Allen
* Starting on a Shoestring: Building a Business Without a Bankroll by Arnold S. Goldstein
There are plenty of free informational resources out there. Check the source box for links to articles.
Hope that helps! I wish you much success & happiness in all your ventures!
2007-01-16 03:22:39 · answer #1 · answered by TM Express™ 7 · 0⤊ 0⤋
This is the hardest time. As a startup, you have only a few sources -
1) Bank facilities
2) Private Investment
3) Loans
Grants do exist for certain groups (like veterans) but these are few and far between. Most grants will be in the form of discounted facilities or free services.
The bank will usually want collateral and a personal guarantee from you before they will offer an account. The facilities you will need might include a charge card and an overdraft. Payment processing might also be required (for cards, online). If you know someone in business then ask them who they bank with - a personal introduction can help a lot (not always though).
Private investment is usually the way forward - $1k from a friend, $5k from family, $10 from a few referrals. If your idea is sound and your commitment is apparent, you can usually convince people to support you. You can also look for local entrepreneur groups and business angels (private investor groups). Just get that business plan polished. Starting with private investment will also make like easier for arranging bank facilities and...
...Loans. Business loans are pretty much the same as personal loans unless you are a big start-up. They'll want proof you can repay and they often will want security. Small businesses can benefit from government backed low interest loans (see link in the previous answer) yet these often are for matching the funds you bring in from private investors. However, a small loan and an overdraft is definitely possible. Avoid money lenders or high interest loans.
2007-01-15 06:23:26 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Go to http://www.sba.gov/starting_business/ or http://www.bplan.com/ where you will find sample plans and instructions on how to write a business plan. Then, take the business plan to a bank.
2007-01-15 06:05:49 · answer #3 · answered by Anonymous · 0⤊ 0⤋
small business loan try this you can get loans from many banks
http://www.freewebs.com/***********
2007-01-15 05:40:28 · answer #4 · answered by rai t 2 · 0⤊ 1⤋