Crowdfunding

Crowdfunding has become a popular option for entrepreneurs looking to launch a new product or service. It lets you tap into the collective efforts of friends, family members, customers, and individual investors to raise the capital you need to start your business.

Platforms like Indiegogo , Kickstarter , and GoFundMe make it easy for you to host an online campaign and reach potential backers through email and social media. Plus, there’s the added benefit of validating and refining your business concept through feedback from the masses.

Small Business Grants

Small business grants are an extremely attractive source of funding because, unlike small business loans, you don’t need to worry about paying them back.

Federal, state, and local governments offer a wide range of grants to help small businesses start and develop. The catch is that they are typically reserved for specific industries and causes that have been identified by the government, such as scientific or medical research or conservation efforts.

Friends and Family

If your family and friends believe in you and your business and are willing to invest in the future of your company, they might be a great resource.

But be careful. If you accept money from your friends or family, you inherently put them at risk. Make sure that they are fully aware of the risks and have a strong understanding of what you plan to do with their loan or donation.

If you’re worried about dinging your credit, there are some lenders that just do a soft credit pull—meaning it won’t affect your credit score. Continuer la lecture de How to Know if You Have Bad Credit →