Where to get money for business promotion

A mandatory part of any business plan is start-up capital. Of course, sometimes the required amount is already deposited in the bank account, but in most cases additional sources of financing are required.

Loans

The most popular option is to take a business loan from a bank. Almost every bank has special programs for lending to small and medium-sized businesses. True to the case, which is just opening, the stakes are quite large. For example, for entrepreneurs and small businesses they are in the range of 20-26% per annum.

Overpayment really turns out rather big. However, you get reliable cash, which is secured by an agreement with the bank. You have no additional obligations to the creditor, and are also insured against revising the terms of the contract.

Despite all these conditions, getting money in this way can be problematic. It will be necessary to prove to the bank that your company will definitely shoot, but this is not so simple. It is necessary to think over all the details, even the smallest.

Moreover, few projects are capable of starting to make a profit from the first days. As a rule, it takes several months to build up a client base, organize all processes, and so on. In addition, you may be required to leave a deposit: an apartment, a car, a land plot or some other valuable asset.

An alternative to a business loan is a consumer loan. However, it is only suitable for small projects, since getting a large amount here is almost impossible. Among the advantages, you can distinguish that you do not have to provide a business plan and go through a very long application review process.