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- Key steps for acquiring funds for starting or growing a business
- Potential avenues for financing
- A word of caution on alternative fintech lenders
- Financial technology options can be an appealing option for entrepreneurs who have trouble accessing funding through traditional lenders
- However, fintech can also come with higher interest rates and more onerous repayment terms
- Proceed with caution when looking for financing
- How to develop a relationship with your bank to meet your small business needs
- The important documents to bring when meeting with a bank representative
- What banks are looking for to gauge creditworthiness
- Community development financial institutions offer an alternative source of funding with higher approval rates
- CDFIs seek to broaden economic opportunities for low-income and minority communities
- The pros and cons of using CDFIs for your business financing needs
- Investors can provide funding to help a promising new business grow
- The components necessary for a successful investment pitch
- How different types of investors work and what they’re looking for
- Entrepreneurs often have to rely on personal funds for early-stage funding
- Tapping into personal funds, bringing on partners, and convincing friends and family to lend their support
- Crowdfunding options to take your appeal to a wider audience
- Finding the funds necessary to start or expand a business until it can reach profitability
- Forecasting expenses and revenues as part of your business planning process
- Calculating how much money you’ll need to sustain your business until you break even
- Entrepreneurs often have to rely on personal assets to get a business started, but frequently don’t have sufficient funds
- Taking an alternate route and seeking support through a community development financial institution
- Options for investors that can support your early-stage company
- Grant funds do not need to be repaid and can provide targeted support for your small business
- Where to look to find grant opportunities
- Preparing a grant application and increasing your chances of success
