Welcome to the Small Business Ideas Forum! We are a community of over 100,000 small business folks with over 163,000 posts for you to browse. We pride ourselves on being the friendliest forum you will find and we'd love to have you as a member of our community. Please take a moment and register for a free account. If you need any help, please contact Chris Logan.

Small Business Ideas Forum

Small Business Ideas Forum

A friendly place to share small business ideas and knowledge, ask questions, find help and encourage others that are involved in the small business industry. Topics include small business marketing, generating revenue and small business computing.

Go Back   Small Business Ideas Forum > Generating Revenue, Insurance, Taxes, Etc. > Small Business Finance
Register Search Today's Posts Mark Forums Read

Reply
 
Thread Tools
Old 12th January 2016, 02:49 AM   #11
CodyDeegan
VIP Contributor
 
CodyDeegan's Avatar
 

Join Date: Feb 2013
Location: Philippines
Posts: 148
Default

Your suggestion of the OP to apply for a financial loan but I think one of the bother here is who will lend him/her the money in order to establish the dream of setting up a business.

__________________
Doing business in the Philippines CORRECTLY
CodyDeegan is offline   Reply With Quote
Register or log in to remove this ad.
Old 21st January 2016, 07:34 PM   #12
fchapman
Member
 

Join Date: Jan 2016
Posts: 3
Default Invoice financing

Has anyone ever tried invoice financing? I want to try it -- probably through community bank or online -- but not sure if the rates are competitive and it's legit. Hoping to hear about first hand experience before trying it.

Thanks!


fchapman is offline   Reply With Quote
Old 3rd February 2016, 02:54 AM   #13
CodyDeegan
VIP Contributor
 
CodyDeegan's Avatar
 

Join Date: Feb 2013
Location: Philippines
Posts: 148
Default

Quote:
Originally Posted by fchapman View Post
Has anyone ever tried invoice financing? I want to try it -- probably through community bank or online -- but not sure if the rates are competitive and it's legit. Hoping to hear about first hand experience before trying it.

Thanks!
Welcome to the Forum! Since invoice financing is a thing now, most probably you'll succeed in this industry especially if you are very good in keeping track of your finances. Your market would be small businesses who needs aid with improving their cash flow and capital.

__________________
Doing business in the Philippines CORRECTLY
CodyDeegan is offline   Reply With Quote
Old 9th February 2016, 07:50 PM   #14
bda_iv
Member
 
bda_iv's Avatar
 

Join Date: Feb 2016
Location: Los Angeles,CA
Posts: 9

Default

Quote:
Originally Posted by fchapman View Post
Has anyone ever tried invoice financing? I want to try it -- probably through community bank or online -- but not sure if the rates are competitive and it's legit. Hoping to hear about first hand experience before trying it.

Thanks!
I work in that space and would be happy to answer any questions you have on it. If bank lending isn't an option for you and you have a B2B business it is definitely something worth exploring.

bda_iv is offline   Reply With Quote
Old 10th February 2016, 11:16 AM   #15
Centurion7
Member
 

Join Date: Aug 2013
Location: California
Posts: 16

Default

Quote:
Originally Posted by amylee View Post
I am going to start my small restaurant business so I want to apply for loan. So would you please advice me that how could I get it easily.
Hi Amylee

I don't know where you are at in the process, but I will say congrats to you for taking a bold step toward building a business!

Keep in mind there are a lot of financing options out there, but they are not all good options.

As mentioned in earlier responses, SBA is a possibility but these loans take so much time often they are not worth it. Lending has loosened up a little, but still it can take many months to get a SBA loan through. And they demand tons of documentation and risk assessment.

There are many other types of financing out there. One of the easiest is angel investor funding. Angel investors partner with you in the venture and provide the needed money to get it going, but they ARE your partner so you are beholden to them, and this can lead to problems.

My personal belief is this: if there is no way you can go it alone, and you must have outside funding, locate a private investor. There are myriads of people with money out there looking for a good place to put it. You would be surprised. If you can find someone who has the cash and likes and trusts you, they can fund the deal for a percentage of proceeds OR by an agreement with you to pay them off over time.

The main benefit to this type of funding is you are dealing with real people in a personal relationship with you. You are not simply a number in a book, which is more the way it is with other investors. The personal relationship really helps when piloting the inevitable ups and downs of business.

My best,

Rhett


Last edited by torka; 10th February 2016 at 11:59 AM. Reason: Removed link - not allowed per forum policy. Create a signature if you want to link to your site.
Centurion7 is offline   Reply With Quote
Old 11th February 2016, 03:19 AM   #16
CodyDeegan
VIP Contributor
 
CodyDeegan's Avatar
 

Join Date: Feb 2013
Location: Philippines
Posts: 148
Default

Quote:
Originally Posted by bda_iv View Post
I work in that space and would be happy to answer any questions you have on it. If bank lending isn't an option for you and you have a B2B business it is definitely something worth exploring.
I agree with you.

__________________
Doing business in the Philippines CORRECTLY
CodyDeegan is offline   Reply With Quote
Old 8th March 2016, 04:17 AM   #17
elisagrace
Member
 

Join Date: Nov 2015
Posts: 3
Default

Hey, I will suggest you to go for SBA loans,according to me they are really helpful and supportive in providing the loans to their customers.Go through " https://merchcash.com/resources/post/business-loan/ ".

Good Luck

Regards
Elisagrace

elisagrace is offline   Reply With Quote
Old 9th March 2016, 12:44 PM   #18
HassleFree
Member
 

Join Date: Mar 2016
Location: Texas
Posts: 9

Default Financing Options - Best to worst

From best to worst, here are the places I would suggest you look for financing:

1) an SBIR Grant
2) Friends & Family
3) Local & State Economic Development Programs
4) SBA 7(a) Loan
5) Bank Loan
6) Angel Equity
7) PERSONAL (not Business) Credit Cards
8) Alternative Financing - some offer start-up loans.

HassleFree is offline   Reply With Quote
Reply   

Bookmarks


Similar Threads
Thread Thread Starter Forum Replies Last Post
need help starting business racheldianatina General Small Business Issues 24 11th December 2015 08:12 PM
Disadvantages Of Getting A Business Bank Loan From Bank AngelBiz General Small Business Issues 2 26th May 2015 10:10 PM
Type Of Service Business To Start goblue20 What Type of Business Should I Start? 3 15th August 2010 07:01 PM
So Your Business Is A Sole Proprietorship … What Does That Mean To You? KCMacdonald Small Business Finance 0 21st June 2010 07:11 PM



Thread Tools

Get Updates
RSS Feeds:
RSS Feed for Small Business Finance RSS for this Category Only: Small Business Finance

RSS Feed for Small Business Ideas Forum RSS for Entire Forum
Forum Rules


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


Small Business Ideas Forum


 
At Your Business - Small Business Directory
Free Business Forms - Prewritten Documents
 
Search Engine Guide
Small business guide to search marketing

 
Small Business Brief
Fetching the Best Small Business Info


Free Links - Free Advertising
Free Guide - Online Directory



Advertise your business here
Contact us for more details!


Semantic Juice
Register now to access free Quick SEO service!


Rocket Lawyer
Sign up for free 7 day trial. Boost your biz!


Buy UPC Codes
Get your products listed online!




All times are GMT -5. The time now is 04:11 AM.


Powered by vBulletin® Version 3.7.3
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Copyright 2004 - 2018 - Privacy