How to Get the Cash You Need for Your Business Quickly and Easily
May 30 2015
Money makes the world go round…..or is that love?
Well…..let’s just say money makes business go round.
One question I often receive is, “Do you have any money sources I could use”?
Most of the entrepreneurs know I’m not a big fan of borrowing money to start a business.
But sometimes money can help you expand a profitable business, get equipment, or branch out into other ventures.
On top of that, when you have access to capital you can acquire a business, develop real estate, buy manufacturing a plant or import products from other countries…to cite a few examples.
Today I’ll focus on legitimate money and lending sources.
I’ve included links to angel investors, venture capital, grants, low (and no) interest loans and more.
Let’s get this party started…..and get the money you need!
There is a cardinal rule of successful borrowing and getting the money you need.
It is this……
Focus on the bank, investor or money sources which specialize in the type of loan you seek.
In other words, if a bank, investment firm or money source specialize in loans for real estate, then seek this source for real estate deals.
If a bank or money source specializes in business acquisition or expansion, then seek these them for this purpose.
Too often entrepreneurs approach a bank with a great proposal or executive summary only to be turned down.
For example, if you approach a small local bank for a loan to expand your import business the chances are slim to none of obtaining it.
What’s more, if you approach a Wall Street investment bank for a $40,000 auto loan, you’ll probably be turned down.
But….if you apply for an auto loan at a local credit union specializing in auto loans the chances are very high you’ll get it!
It’s important to focus on the bank or money sources which specialize in the type of loan you seek.
Grants follow this same logic….
The reason most grant proposals are turned down is because they don’t focus on grantor’s sole objective. If you want grant money to build your operation then build your proposal around the grantor’s sole objective (not yours).
One of my favorite money source gurus is Tyler Hicks. If you research his site, books and products you’ll see what I mean. I’ve been a subscriber to his newsletters for more than 15 years.
New Small Business Money Sources
Small business banks and money sources are usually very receptive to lending money for business opportunities, expansion and qualified real estate ventures.
Simply contact any of these banks and request an application.
New Import Export Money Sources
Import and export banks and lenders typically focus on import and export businesses and related transactions.
These money sources include venture capital funds, banks, investment firms, and wealthy investors.
You can contact any of these money sources for an application and funding guidelines.
Solvent Investment Banks
An investment bank is a financial institution which assists corporations and governments in raising capital by underwriting and acting as the agent in the issuance of securities.
In other words, an investment bank typically focuses on larger corporations and governments to raise capital.
Investment banks do not usually work with small companies or entrepreneurs.
An investment bank also helps companies involved in mergers and acquisitions.
Unlike commercial and retail banks investment banks do not receive deposits from customers.
Hot Money Sources on the Web!
FreddieMac (They’re still in business and making loans!)
As I said…Ty Hicks publishes International Wealth Success which focuses on money sources, grants, angel investors and contacts in the lending industry. You’ll find hundreds of viable money sources and contacts at IWS. IWS also publishes books, email and print newsletters.
Fast Cash Loans and Money Additional Money Sources
Fast cash or micro business loan are usually in the $1000 to $20,000 range.
A new web-based micro-lender called Kiva enables investors to make some micro loans to entrepreneurs in developing countries.
More Viable Loan Sources:
America Business Funding Directory (4000+ business loan sources)
Prosper.com (a peer-to-peer lending platform)
Philanthropists Hand Donate Cash for the “Right” Causes
Wealthy individuals enthusiastically hand over millions of dollars through foundations, to people and causes.
The “right cause” is a key to receiving money for your cause or venture.
The likelihood of receiving money from wealthy individuals to pay bills, buy a new car, or acquire a new boat is pretty slim.
But thousands of people, groups and organizations receive money from wealthy individuals by asking for it, or by promising to commit the funds to the “right cause”.
The late Percy Ross in Edina Minnesota was the founder of the “Thanks a Million” newspaper column. It reached millions of people every week. Individuals could write to Percy with their requests, and many of the requests were honored with an award.
Here are some wealthy individuals and organizations granting cash awards to the “right causes” on a regular basis:
Dorothy Ames Trust
PO Box 1054
Augusta ME 04330
Aid to hearing-impaired children
Thomas C. Burke Foundation
804 Cherry Street
Medical assistance to cancer patients in Georgia
Josiah H. Danforth Memorial Fund
8 Fremont Street
Gloversville NY 12078
Medical assistance to residents of Fulton County NY
Alfred I. DuPont Foundation
1650 Prudential Drive
Jacksonville FL 32207
Financial assistance to residents of Southeastern US
Addison H. Gibson Foundation
One PPG Place
Pittsburgh PA 15222
Hospital and medical assistance for residents of Western Pennsylvania
The Chronicle of Philanthropy is a publication which tracks financial giving from wealthy individuals and foundations to non-profit organizations. You might find it helpful.
The Foundation Center in New York City provides an abundance of information and insight with regards to securing gifts and money from philanthropists or foundations, as well as tutorials for writing successful letters.
Gordon and Betty Moore Foundation $7 billion
Science, environment, health
Bill and Melinda Gates
Health, education, science, libraries
Warren Buffett – Berkshire Hathaway
Science, health, nuclear power
Eli and Edythe Broad Foundation
Education, the arts, science
James and Virginia Stowers Foundation
Biomedical research, health, education
The Walton Family Foundation $1billion Education
Michael and Susan Dell Foundation
Children’s health, education
George Kaiser Family Foundation
$600 million Anti-poverty
Ruth Lilly Foundation
Poetry, education, libraries, culture
Michael Bloomberg Foundation
Education, health care, arts and culture
Veronica Atkins Foundation
Eradication of obesity and diabetes
Jeff Skoll Foundation
Kirk Kerkorian Foundation
Donald Bren Foundation
Education, environment, health care
Pierre and Pam Omidyar Foundation
$400 million Self-empowerment
Patrick and Lore Harp McGovern Foundation
Bernard Marcus Foundation
Aquarium, health care, Jewish causes
Paul Allen Family Foundation
Arts, science, technology, brain research
FoundationCenter.org offers access to more than 900 foundations and generous philanthropists!
I’ve included a boatload of money sources, angel investors, loan resources and more in this week’s issue.
Always remember to focus on the bank, investor or money sources which specialize in the type of funding you seek. This will increase your odds of getting the money you need a hundred fold!
I hope that helps.
Your humble host,
***** Action Strategy *****
Why do you need money?
Is it to acquire or expand a business?
Or would you like to develop some real estate or buy foreclosed homes and condos?
Whatever the reason it’s important to focus on the bank or money sources which specialize in the type of loan you seek.
In other words, if a bank, investment bank or money source specializes in loans for real estate, then go to this source for real estate deals.
Contact the money source and ask them for an application, or to explain their process for getting the capital you need.
Granted, everyone gets turned down for money requests. No problem. If you focus on money sources ALREADY granting requests in your area, the odds increase in your favor…..in a big way!
Have fun and play nice.
More Money Sources! (If you can believe it!)
Crowne Point Funding
864 498 3427
813 839 0340
Mass Private Lending