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What are the alternatives in financing a business?

Committing your own funds is often the first financing step and it is certainly the best indicator of how serious you are about your business. Risking your own money gives confidence for others to invest in your business. You may also want to consider a partner for additional financing, as well as family resources, and of course banks are always a source of funds. Other loan sources include commercial finance companies, venture capital firms, local development companies and life insurance companies. Trade credit, selling stock and equipment leasing do offer some alternatives to borrowing. For example, leasing can be an advantage because it does not tie up your cash. Service providers at the National Entrepreneur Center can provide pertinent information about these various financial alternatives.

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