8 Creative Ways to Raise Business Funds Quickly

Small businesses do not have a lot of money stocked up in the bank hence there are times when you may need a little extra cash quickly. We have listed a few creative methods which will help you raise funds for your small business in no time.

1. Microfinance:

Micro funding is a great way to raise your capital by applying for a loan between $5,000 and $50,000. There are certain limitations though, your credit score needs to be at least 150 and you should have been in business for a minimum of two years to be able to apply for this loan.

2. Charge Cards:

Charge cards are different from credit cards as there is no limit to expenditure and is a great option for entrepreneurs seeking out for a short-term loan because you will have to pay back within 60 days or fewer.

3. Friends or Family:

The best and easiest funding option is from your friends and family as you have to pay no interest and you can return them money whenever you make profits, there is no pressure. Just make sure that you are borrowing money from someone close without affecting your relationship and if you feel at some point things may get weird, avoid borrowing from them.

4. School Contests for Grants:

Many schools and colleges have contests open to young entrepreneurs who can win a cash price to help in funding business. You will find many such opportunities, check them out if anything clicks.

5. Credit Card Balance Transfers:

If your credit score is good, then credit card companies will readily increase your card limit and you can use the card to transfer the balance to another card and request the bank to refund you the money via check. This way you will have money for the business. Remember you will have to pay off to the credit card company within 45 days.

6. Company Sponsorships:

Find out if any big company is providing sponsorship and apply for it. if they like your pitch they may fund your business. It is worth giving a try.

7. Strategic Partnerships:

Partnering with another business whose value and products can integrate with your company to provide a better solution, it would be a great way to get additional capital for your business.

8. Cash Flow Side Businesses:

Investing in a side business which has an easy entry procedure and constant cash flow is a great way to fund your main business. Bitcoin trading is a lucrative investment which can give you a quick return. Entering into this is easy and you need not have any trading knowledge as accurate trading software from bitcoin profit will do the job for you. The best part is that this is not a one-time affair as you can continue trading to get constant returns and you will not be in any debt as well.

Though small businesses may not have funds lying around but their fund requirements are also not that large hence if you are creative enough and have a few tricks up your sleeve, you will easily manage to gather some funds for the business quickly.