4/15/2012 1 “Beg, Borrow or Steal” Finances and Your Business $$$$ to get the show on the road! Identity and Promotion Branding, marketing/advertising, sales materials Infrastructure Legal, regulatory, technology, furniture & fixtures Admin Utilities (phone, internet), Supplies, Postage, Insurance, Rent
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4/15/2012
1
“Beg, Borrow or Steal”
Finances and Your Business
$$$$ to get the show on the road!
Identity and Promotion Branding, marketing/advertising, sales materials
Beg Family (early inheritance?), friends (put it in writing)
Borrow (external)
Banks Instead – P2P Service Prosper.com – Ebay for loans LendingClub.com – lenders & borrowers find something in
common Angel Capital Association - trade association of angel groups and
private investors that invest in high growth, early-stage ventures.
Financing Options – con’t
SBA – Microloan program through lending partners
Maximum $50k, 6-year term Working capital Inventory or supplies Furniture or fixtures; machinery or equipment Not for existing debts or to purchase real estate
Intermediary – non-profit, community-based agency; required to provide training and technical assistance to borrower www.AccionChicago.org (see attachment)
4/15/2012
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Financing Options – con’t.
Steal (internal)
Savings – reserve for unexpected stuff? emergencies?
Life Insurance Cash Value – impact on death benefit?
Home Equity Line of Credit – tied to a variable rate? need for a car, home improvement, college?