In the recently released Small Business Trends Magazine Finance Edition, the focus is on small business loans and other funding options.
It’s an important issue! When you’re seeking to start a new business or expanding an existing one, it often takes money. And that includes money you currently don’t have.
Where Do You Go When Seeking Money To Expand Or Start a New Venture?
Yes, in an ideal world, you might have existing funds from retiring after long-time employment, a large savings account or money from selling a previous venture.
But realistically, this isn’t always going to be the case. And you don’t want your next great business idea to be held up by a lack of cash.
What’s Your Go-To Small Business Funding Source?
So when you need money to start your next business or perhaps expand an existing business into a new market, where do you turn?
Let us know in the poll below.
What's Your Go-To Small Business Funding Source?
- Friends and Family (26%, 203 Votes)
- Credit Cards (19%, 149 Votes)
- Small Bank (16%, 123 Votes)
- Online Loan Marketplace (13%, 99 Votes)
- Something Else (9%, 66 Votes)
- Line of Credit (6%, 48 Votes)
- Big Bank (5%, 42 Votes)
- Credit Union (5%, 40 Votes)
Total Voters: 770
Checking Finances Photo via Shutterstock
More in: Small Business Trends Polls and Surveys
The best out of the bunch is friends an family followed by small banks. Generally, you’ll want to go with the option that can help you reach your goal without a high interest.
There are now some apps that allow you to quickly borrow money. I think that this is great for it will help you leverage your money and invest it to help it to become more fruitful.
I agree. I think that the best choice are family and friends. You’ll want the smallest interest you can get.