Financing Help For Startups.... Does it really exist?
I am secure seed money for my business and I'm running into all types of roadblocks from traditional banks. Is there ANY honest resources for startups, who don't require you to run a marathon to secure the funding? Thanks!!
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You are asking people to fund you without putting in much work or effort into the process? If you were investing what would you want/need before giving money to strangers? There's a reason for the challenge/work. – Tim J 12 years ago
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I think he's referring to the red tape involved in going through banks, as opposed to pitching to VCs. – Henry The Hengineer 12 years ago
1 Answer
Reliable? No.
Simply put, anyone who is willing to give money to a high-risk business (and all startups fall into this category) is going to want to reduce that risk as much as possible. This means requiring the founders to document what they're doing - to make sure any funds are being spent well and have a maximum likelihood of turning profitable.
At a minimum, you will need to have a business plan, but more than that - demonstrate that you know what to do with any money that might be entrusted to you. To get to that point, you'll have to run the obstacle course.
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Well that is obvious BP, know how, etc.. Where are the real lenders at? – Ready2 Run 12 years ago
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Some banking institutions, some government organizations. Depends on where you are located. – Elie 12 years ago
