Getting a loan for your business can give you a lot of headaches if you still do not know the simple ways that exist to achieve it. Mostly, small business owners seek financing since they cannot access a commercial loan.
If you are in the United States and want to start from scratchthen obtaining a loan to start your own business is an excellent option. If you think you can’t do it, you’re wrong.
We will give you tricks on how to get from $1,000 to $100,000 through personal loans. In addition, they have a relatively low interest rate and a short approval period.
What are the 9 ways to get a loan for a business in the USA?
1.- Family and friends
One way to get capital for your business is by requesting a loan from your trusted family and friends. You can also encourage them to invest in your business in exchange for giving them a share of the profits from the business. One of the advantages of this type of deal is that you do not have to meet as many requirements or follow strict protocols.
2.- Credit cards
Another method to obtain financing for your business in a short time is through credit cards.. You can use it to pay your providers, however, if you are not up to date with the cancellation of the cards it can add a greater debt and harm your credit score.
3.- Loan with mortgage guarantee
You can use a home equity loan to start your business. These loans can be paid in comfortable installments, plus you can invest it in any type of business.
4.- Action
It is a platform that grants loans to medium and small companies in the United States where it is present in all the states of the country. The main objective of this organization is to help you create your own business and provide you with financial education tools. It has initial financing of up to $50,000 thousand dollars.
5.- Financing of invoices
It consists of a loan that banks or financial institutions grant you against the value of your invoices. Said institutions can use a receipt that has not yet been paid as a guarantee for an incentive on the amount of the invoice to be paid.
6.- Crowdfunding
This is also an excellent option to obtain money to finance your business.. Basically, it is about using the capital of several people through small contributions.
7.- Venture capital from investors
Investors provide funds to start the business in exchange for a percentage of the business. Although, you should keep in mind that these types of investors mostly consider large companies to obtain more benefits.
8.- Loans for small businesses
You can apply for a loan to invest in your small business. You must prepare a business plan and present it at the time of requesting the loan. Remember, choose a comfortable option that suits you and is easy to pay for.
9.- SBA microcredit program
Small Business Administration better known under its acronym SBA provides loans of up to more than $50 thousand dollars to finance small and medium businesses. However, you must have a lender as an intermediary who will guide you about the requirements and precautions that you will have to complete to apply for the loan.