Since the loan approval process can get complex, take too long and never complete with success, it is important for small ventures and entrepreneurs to know the many ways in which money can be raised without loans. There are indeed ways to get hold of cash when needed without the crippling norms of loan sanctions.
The simplest way to get some cash is to get an overdraft facility from a bank. Good for cyclical businesses, overdraft can help in small emergencies.
Pre-sale of goods isn’t well known, but a remarkable way to raise funds. Announcing the pre-sale of goods or services that are in demand or known to be good can generate good funds with the help of presale deals and discounts.
For new ventures, an option is to rent a portion of their home. There is no need to take the risk of selling the house. The rental income however will be small and may fall short of requirements. Invoice financing is a good option that has become popular. If companies need to pay your invoices, then the invoices can be sold to get an advance.
Crowdfunding is extremely popular today, but requires a good strategy and execution to hook the audience and raise funds. It also has a financial goal that must be reached, else some platforms require the entire collection to be returned.
Businesses with equity can obviously sell it to raise funds. The interested parties could be angel investors, venture capital funds or equity houses, and even equity based crowdfunding platforms. Peer to peer is another increasingly popular way to get funds. Businesses with assets can borrow money with asset based funding, and this could even be equipment, as explained in the guide, how to get equipment loans.
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