Question: I only need a small amount of funding. What is one nontraditional method or resource I can use to raise a little bit of cash?
Kiva Zip
"Kiva Zip is a program that provides small business owners in the U.S. with easier access to capital through person-to-person lending. Kiva Zip loans are crowdfunded by a community of lenders from around the world, who can also serve as brand ambassadors and potential customers for your business."
@jasongrill
The Local Chamber of Commerce
"One frequently ignored source of microfunding is your local Chamber of Commerce. Chamber's work with local and State Government to establish low-interest loan programs of all sizes. You'll need to be a member of the chamber, but aside from low-interest loans you'll also be able to network old school."
@krisjonescom
School Contests and Alumni Grants
"A lot of colleges and universities host business competitions with cash prizes of more than $10,000 as well as the exposure needed to jumpstart a business. Many of those competitions are open to young entrepreneurs within the community, not just the specific school. Check out these kinds of opportunities to get the small startup capital you need in the early phase of your business."
@DoreenBloch
Friends or Family
"If you tell your friends and family about your business idea, you might be surprised with who wants to invest. Many companies actually find their first round of funding from these types of sources. However, make sure you set clear expectations from the beginning because if it goes south, it can affect your relationship. Be open, honest and respect their money -- don't squander it."
@andykaruza
Charge Cards
"Charge cards are different than credit cards. There is no pre-set spending limit, giving entrepreneurs the freedom to spend more when business needs arise. Unlike credit cards, charge card balances have to be paid back in a shorter period of time (typically 60 days or less), but they are a great tool for expanding your short-term cash flow. ZinePak's favorite charge card is the Plum from AMEX."
@brittanyhodak
An Educational Fundraising Event
"Host a class to share your experiences. This will educate others in your network, and turning it into a fundraising event will provide an extra boost of funding for your company."
@thekevinxu
Cash Flow Businesses
"When I started my cleaning company in 2008, it was with the long-term goal of starting other companies. We used the extra cash to help finance other business ideas we had. The cleaning business was an easy entry field and took little money to start. Within the first year, we had excess funds to begin starting other companies. Today, it's helped start three other businesses and is still in operation."
@KyleClaytonGore
Strategic Partnerships
"For some companies looking for a little extra cash, it can be a good option to seek out complementary businesses to partner with. Look for businesses that offer products or services that could be a value-add to your own offerings. These types of partnerships can yield the additional capital you need."
@EarlyGrowthFS
Sponsorships
"You don't need to be running across the country or doing charity work to look for sponsors. As long as you have a product or service that can draw attention to your sponsors, you're in the game. Perhaps it can be through advertising, media appearances or having their name appended to yours for some time. Many big companies like to be seen helping "the little guy.""
@FreeEbooksNet
