Starting a company and business is a dream that many people share. Once you do start the process of starting your own company, you can soon find that it is challenging to get the company off the ground due to a lack of capital. No matter what type of company you have, you are bound to need inventory, office space, and other assets that require upfront expenses. Recently, Paul Saunders, the founder of James River Capital, gave insight into a variety of different methods that could be followed to raise the money you need.
To start, you should check with your local banks to see if they provide financing solutions to small businesses. There are a variety of different bank-sponsored loan programs that could be used to provide you with the initial capital. When you go to a bank, you should be prepared to have a full business plan available.
Angel and Private Investors
If you have a good business idea, you could be able to raise equity from angel investors or venture capitalists. These individuals will provide you with capital or a line of credit you need. While they will take a share of your company, you will also receive some great expert advice.
Crowd funding is a growing concept in which thousands of people will contribute towards an equity investment or loan. These have very flexible repayment terms, which could help you to get into a great financing solution that is right for your business.
Those that are in need of financial advice should continue to speak with Paul Saunders and the team at James River Capital. These professionals can help you to build a business plan and raise the money you need to get off the ground. Going forward, they can continue to provide you with support you need to thrive both professionally and personally.