Need Help Fundraising Assistance?
Not Sure the Best Path to Take?
If so, we developed several downloadable guides to help explain the steps required for the most common Fundraising Assistance paths that small business owners take. This tool will help guide you to the one most relevant to you. Hopefully, they will help you decide which path is most appropriate for you.
The first, and most important decision to make is which type of fundraising to pursue
Key Points About
- Maintain complete control of the business
- Requires collateral or may require personal guarantee
- Personal credit does impact the types of loans available to you
- Time in business impacts the types of loans available to you
- Use of funds dictated in the terms
- Duration can be as short as a few months to up to 7 years
- Generally lower return on investment (interest rate)
Debt vs. Equity
There is no absolute right or wrong answer to this choice. In fact, many companies choose to have a mix of both. Debt financing tends to be more common with most small businesses given many small business loans are government subsidized making them generally quicker and easier to obtain.
Key Points About
- Shared control of the business
- Requires a valuation, which can be time consuming
- Requires additional legal services and fees
- Size of the raise impacts the class of investors
- Requires a due diligence process, which can be very time consuming
- Requires a formalized reporting system
- Return on investment expectations are typically higher and faster
What to Do When You Need Money for Your Small Business
Does Your Small Business Need Money?
One of the groups we often find our clients and friends finding the most trouble within their small business comes with needing money and financing. If you’ve found yourself on this page, odds are that you’ve faced a similar situation. This isn’t anything to worry about or be ashamed of. We’ve written several pieces about small businesses needing money before, and we want to help you the best ways we can.
If you take the quiz above, we can help you figure out the best way to help your small business get the money it needs. Some businesses need money as soon as possible, while others might be looking for equity partners. Also, a key factor about fundraising for your business involves how to get loans when your credit isn’t the best or getting money when you don’t want to work in the banking system.
We have detailed guides on each of these factors and more. If you’re worried about needing money or afraid that your small business can’t get a loan, we want to let you know that ProStrategix can help. Take the quiz below and find a guide that is built for your situation. And if you want more information or have any questions, please ask us! We’ve helped many small businesses get the money that they need to grow and stay afloat. We can help you too.
If you feel like you need more specific help with your small business or if you are in a position where you’re stuck in place, we can help you with that as well. Finally, we would love to connect with you on our LinkedIn Small Business Bootcamp group . You can get even more information about the ways we help our small businesses there. If you want something deeper then feel free to contact us.
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