Small Business Loans | Uncut Whitepaper Report on 16 Most Common Ways to Get Cash-o-lah Pt. 8
I know this is a little bittersweet but the longest series we’ve ever done comes to an end today. I’ve got two final options to cover with you today in the never ending quest to answer those burning questions small business owners have. Where can I get the best small business loans? What are my options? Can I really get an unsecured business line of credit? Is debt or equity best for me? We obviously specialize in unsecured business credit and helping you borrow money the RIGHT way but it’s also important to know what your options are. So here we go with our final blog in this eight part series…
16. Import/export loan. For the capital you need to expand your business into foreign markets, there are specialized import/export loans. Most of these are backed by the Export-Import Bank of the United States.
If you are exporting, be sure to use the resources available through the U.S. Dept. of Commerce, which arranges introductions with possible buyers and organizes trade missions abroad. The recently passed National Export Initiative earmarks new funding for helping startups and small companies not yet selling overseas.
Think of this as P.O. financing but across borders. Import/Export financing through non-bank lenders is essentially a P.O. loan that involves a product that crosses into another country.
BONUS IDEA:
Gift-funding sites. Crowd-funding sites such as Peer-backers and Kick-starter work on a similar crowd-sourcing model to the peer-loan sites, but with a twist: The money you raise is a gift, not a loan. Most companies end up rewarding donors with discounted merchandise, so this method is not without cost…but still. The bottom line here is you end up with no loan payments to make.
There are some limitations to this plan. For instance, on Kick-starter you cannot raise money for general working capital needs, only for a specific project. Artsy businesses such as graphic design, film making, and apparel tend to be the most successful on gift sites. While Peer-backers is a crowd-funding site dedicated to entrepreneurs and start-ups, it still focuses on total funding amounts less than $35,000 and the average raise is less than $10,000.
If you’ve got questions about the best way to borrow money for your business, Hawkeye Management, is here to help. Feel free to use us as a resource to help you obtain the capital you need. You can call us anytime for a free, no-obligation consultation at 1-888-783-1503 or just visit our website at http://www.hawkeyemgmt.com. Follow me on Twitter @tomgazaway
–Contributors to this report include James Penny, CEO and founder of Compound Profit and Bill Attinger, CEO and founder of ActSeed.com.
Compound Profit is a national organization which provides a large array of alternative financing to companies, taking a holistic approach to helping small businesses grow and succeed. Compound Profit is dedicated to invoking seismic expansion in the wealth and success of small businesses. For more information, visit http://www.cprofit.com or send an email to forms@cprofit.com.
ActSeed connects well-prepared entrepreneurs and small business owners with well-informed investors. Regardless of what type of financing you pursue, you must be ready to answer the questions that investors will ask and demonstrate you have a solid foundation on which to grow your business. ActSeed.com helps you build your “investor-readiness” through an affordable online incubation process. ActSeed is proud to partner with organizations like Hawkeye Management to prepare entrepreneurs for funding. For more information, please email info@actseed.com. Follow them on Twitter @ActSeed.
