Monday, July 23, 2012

Loans for businesses

A friend of mine in the US has recently graduated with a business degree.  Instead of going the “submit application to firm and wait for reply” route, she has chosen to set up her own business. 

Her only problem is finding some initial funding.  With zero experience, you can’t just walk into a bank and say, “Hey, I’ve got this great idea for a business…. Mind loaning me some $25,000 to get it off the ground?”

Starting a serious business isn’t quite the same as putting up a lemonade stand outside your house when you were seven years old.  Then you had Mom and Dad do your advertising for you.  You didn’t have to pay for your lemons, sugar, water, jug and paper cups.  Amused neighbours, friends and family would probably make up a big chunk of your business.  Work was effectively over once you’d made enough to buy the toy you wanted.

For the serious, small businesses, there are sites which offer an online loan to get you off the ground.  Sometimes all you need is just a little helping hand to get you off and flying.

I hope my friend finds  the help she needs to get her business off the ground.  Good luck, K… remember me when you make your first billion and get your IPO going!

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