How To Get Funded Quickly: Quick Guide for StartUp Businesses Get the money and resources you need to start or grow your project!

1. HOW TO GET
HOW TO GET
FUNDED
FUNDED
QUICKLY
QUICKLY
Quick guide for startup
businesses
RONALD GAINES
Get the money and resources you need
to start or grow your project

2. Your brilliant idea has no funding to back it up.
Sound familiar?
You’re not only ready to bring it to fruition, you’re prepared to make your idea
into the largest startup that’s ever existed. You may have taken some first
steps in hashing out your business.
Maybe you’ve chosen the right business model, locked down a co-founder, and
drawn up a goal pyramid to outline your first steps.
But there’s still that one big problem: you lack funding.
As a startup with little to no business history, what are some quick ways to get
funding? Here’s a quick guide to get you started on getting funding for a startup
business. Let's try to answer all these questions in an orderly fashion.
HOW TO GET FUNDING FOR YOUR
HOW TO GET FUNDING FOR YOUR
STARTUP BUSINESS IN 2021
STARTUP BUSINESS IN 2021
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First, it is important to understand that since you will not have a large
amount of income, the key factor that lenders will consider is your
personal credit worthiness. As you know, personal credit reports and
credit scores are tools that lenders and banks use to rate a person's
solvency.
Whether you are in the start-up phase of your business or seeking
additional funding to grow, be prepared to be flexible and creative.
Remember that your source of funding cannot come from one place. In
fact, many entrepreneurs and small business owners gather their funding
from different sources and at different times.
Funding from friends and family is a popular option for raising funds for a
small business startup. Aside from family and friends, here are five
quick ways to get funding for your startup:
FIVEQUICKWAYSTOGETFUNDINGFORYOUR
STARTUP
Business Credit Cards: Unsecured revolving lines of credit in the
form of business credit cards are a powerful tool to consider. Not only
can it help keep your personal and business expenses separate, it
can build your business credit file, provide access to cash and credit,
and offers flexible payment options.
Microloans - A microloan is easier and faster to obtain than a
traditional business loan. Amounts are typically less than $50,000 and
are used for many purposes, such as the purchase of equipment,
inventory, supplies and working capital. The SBA works with lenders
all over the country to provide microloans to small businesses.

4. Crowdfunding – One of the fastest ways to cast a big net for
attracting investors to a business is through crowdfunding. There are
many crowdfunding sites to participate in but be prepared to do your
homework. It takes careful preparation and planning to run a
successful crowdfunding campaign.
Credit from Vendors – Vendor credit is the largest use of capital
from business-to-business and remains the number-one alternative to
personal and small business loans. The Small Business
Administration reports that it’s the single largest source of small
business lending in the United States today. As startup, you can gain
access to short term financing from vendors with minimal
requirements.
Personal Business Loan – Securing a traditional business loan can
be a time-consuming process and uphill battle especially for a
startup. A personal business loan is a loan made to you, the
individual, based on your personal credit worthiness. Upon approval,
you can use funds towards the financing of your business.
When bank lending isn't possible or desirable, alternative business
lending options are worth considering. Whether your annual revenue or
personal credit score isn't up to the bank's standards or you just need an
amount of money that conventional lenders won't offer, alternative
lenders fill in the gaps with a variety of funding options.
An increasing number of business owners have discovered that
alternative business lending can be the best choice for their financing
needs.
ALTERNATIVELENDERS,THEBESTOPTIONFORSTARTUPS
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5. Easier approval – Alternative lenders’ average approval rating ranges
between 61 percent and 64 percent, compared to 13 percent to 20
percent for big banks.
·Faster approval window – Instead of wait times lasting months,
online lenders have approval times that are much shorter – often within
24 hours or less.
·Enhanced flexibility – Alternative lenders can offer different loan
terms and repayment options than banks.
·Various loan types – From term loans to a line of credit and
merchant cash advances to invoice factoring, online lenders have a
litany of financing solutions that big banks lack.
·Less paperwork – Alternative lenders typically require less financial
documents and business information from small business owners.
According to the Federal Reserve, small business owners are two times
more likely to apply with an online lender than large firms. In 2016, for
example, more than $8.5 billion was financed via online lenders, according
to the SBA. That’s more than all the previous years combined. But why?
Here are a handful of reasons alternative business lending is the new
preferred option for small business owners:
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WHATTYPESOFALTERNATIVELENDINGAREAVAILABLE?
The alternative lending space is innovative; it regularly introduces new
types of small business loans and other forms of financing. As such, it is
a diverse space with many different types of loans available. Here's a
look at some of the most common alternative loans for small
businesses.

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Short-term loans
Short term loans allow for very fast funding so you get a lump sum of
cash with a predetermined payment term. Most banks do not offer short-
term loans, but they are a common product from alternative lenders.
Short-term loans are useful when your business needs to quickly cover a
one-time cost.
Long-term loans
Long-term loans provide a lump sum of money to a borrower, which is
then repaid to the lender at regular intervals until the principal plus
interest is paid off. Best for businesses looking to expand that have good
credit and strong business revenue.
A line of credit is a fixed amount of money that an alternative lender
extends to a borrower, just like a line of credit from a bank. A line of
credit gives you access to funds up to your credit limit which can be
borrowed and paid back multiple times while only paying interest on the
money you borrow. This is a flexible and typically unsecured way to
borrow money for seasonal businesses or businesses that need help
managing cash flow or handling unexpected expenses.
LINES OF CREDIT

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Invoice factoring
Invoice factoring is a type of financing in which a business sells its
outstanding accounts receivable to a third party at a slight discount.
Invoice factoring works well for business owners that need money
quickly, have reliable customers that have a history of paying invoices on
time, and can afford the fees that come with selling invoices to a third
party.
Equipment financing
Equipment financing is the use of a loan to purchase the equipment your
business needs to operate. This differs from other types of loans, which
can be used for more abstract purposes (for example, a working capital
loan for staff wages). Equipment financing relies on the equipment itself
as collateral; this enables lower rates and more application approvals
because it is tied to the equipment rather than your personal credit or
annual revenue.
Boost Your Chances of Qualifying for Startup
Funding
Hone your skills in your chosen industry to position yourself as an expert
Craft a detailed business plan with financial projections
Manage and monitor your personal credit score
Connect with suppliers who report to credit bureaus
Invest in assets to act as collateral
Research lender requirements, and gather the appropriate paperwork
When the time comes to apply for a loan, you need to be ready to show
why your startup is worth the risk. And of course, how you’ll make enough
money to generate an ROI.
Your funding requests are more likely to be successful if you:
Taking these extra steps not only makes your startup more attractive to
lenders and investors, but also establishes a foundation for success.
Your company will be strong from the outset and ready to grow as you
put your startup funding to good use.

8. With so many alternative lenders now in the marketplace, it’s important to
choose the right online lender for your business’s needs. At Capital
Funding Solutions, we don’t just provide funding. We offer financing
options that make for a better, smarter small business loan.
With Capital Funding Solutions, small business owners get a
straightforward application process with minimal paperwork, fast
decisions, and funds in as little as 48 hours if you are approved. And if
you have a less-than-perfect credit score or you just recently established
your business, that’s ok, we consider more than just credit. We will give
you an honest look and do our best to help your business.
The approval requirements for our lending programs are significantly
lower compared to secured bank loans, so our funding programs are the
fastest and easiest way to obtain the money you need. In addition, unlike
traditional banks, we offer post-funding support in the form of strategic
and financial consulting—free of charge.
Wait no longer, we've got you covered.
Get your free consultation RIGHT NOW by
filling out our pre-qualification form
and get the capital you need to take your
company to the next level.
Why "Capital Funding SOLUTIONS" is Your Best
Option for Alternative Loans
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