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Financing
You want to acquire a business, start a business, or expand your business, but cash it tight. Where do you find financing? This section has online resources to help you find the money you need. SCORE is a qualified Technical Assistant (TA) Provider under the Small Business Administrations (SBA) Community Express Loan Program to assist Women, Minorities and Veterans in obtaining government backed loans up to $50K. |
The Small Business Administration guarantees
various types of business loans. Visit the Financing section
of the SBA's website to learn about their various products.
See also their finance planning section at: www.sba.gov/smallbusinessplanner/start/financestartup/index.html |
If your loan is for
$250,000 or less, check out the Community
Express Loan option.
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Business grants are relatively rare
compared to business loans. However, if you wish to explore
this avenue of financing, check out our Grants section.
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Interested in obtaining venture capital
or angel investor capital? Check out our Venture
Capital section.
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| Do you have an existing business with cash flow issues
and can't get funding any other traditional way? You might consider Factoring,
which is the purchase of a business’ accounts receivables
(open invoices) at a discount, thus proving the business owner
with working capital. This type of funding is for short term
capital needs for a business that is unable to obtain other types
of financing (as the cost is about 2.3-3% per month of each outstanding invoice). |
| Family and friends can be a source of funding for your company, however, you must take caution so that these important relationships are not ruined. Get advice on how to structure these types of loans with Circle Lending's free guides: www.circlelending.com/guides.asp |
| When trying to obtain financing in Collier County, be prepared to show how the summer slow season will affect your business and how you plan to deal with it. Also, be sure to provide two years of tax returns for your business (or personal returns if this is a new business) as well as a realistic budget that includes your salary and income taxes. |
The following EXCEL spreadsheets can be useful in performing your financial plan for your business: 12
Month Cash Flow Analysis |
| National SCORE has a sample financial forms and spreadsheets
to use for forecasting at: www.score.org/template_gallery.html |
| The Economic Development Council of Collier County has some alternative financing options at: www.enaplesflorida.com/Program/CapitalAssistance.asp |
| Count Me In - Economic Independence for Women - is a source for loans for women owned businesses. Vist them at: www.count-me-in.org |
| The SBA has a special section for women entrepreneurs at: www.sba.gov/services/specialaudiences/women/index.html |
| Veterans should check out www.veteranscorp.org for resources aimed at helping veteran entrepreneurs. |
| There are websites that try to match people with someone that can provide funding. Some examples are www.gobignetwork.com and www.ideacrossing.org. |
| Having trouble getting financing due to bad credit? Check
out these non-bank lenders, but be careful as the interest rates
are generally higher due the increased risk: www.americaonefunding.com www.accion.com www.count-me-in.org (for women business owners) www.mbsfinancial.com www.prosper.com www.zopa.com |
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 SCORE
is a Resource Partner with the U.S. Small Business Administration |
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SCORE
Naples Office Hours: Mon-Fri 9am-noon |