Alternative Ways to Getting Funding for Your Business-Part 2b-Karatbars International

Have you ever thought about doing gold crowdfunding? It is a fairly new concept, but one that can be done. You would use Karatbars International affiliate program as your success vehicle to get the funds needed for your business. Here is a brief sample of the steps that you could take:

1. Sign up for your FREE Karatbars Affiliate account. 
2. Create a business plan with a great executive summary
3. Link up with a marketing investment firm that has access to private and public investors.

At the end of the crowdfunding session, you should have made enough commission off of each investors purchase of gold bars that allows you to walk away with the funding needed and no loan to pay back.

To learn more about the Karatbars product, how to become an affiliate, and/or about this particular unique program of gold crowdfunding, click http://bit.ly/13xmE7X.

Alternative Ways to Getting Funding for Your Business-Part 2a-Karatbars International

Have you ever thought about accepting gold as an alternative form of currency for your business? Currently popular forms of alternative currency being accepted by businesses: Credit and Debit Cards, Checks, Barter Clubs, Community Exchange System (CES), etc.

Karatbars International offers a program called the K-Exchange Center. As a K-Exchange Center, your business will accept Karatbars Gold at the given buy-back price, which can be a very lucrative opportunity for your business. Your business will be listed on the Karatbars Global website for FREE.

Benefits:
World-wide link to the Karatbars Network

Wholesale margin for the purchase of Karatbars gold bullion

Additional income through Karatbars

Sell your products/services via Karatbars

Increase customer loyalty with Karatbars Gold Bonus Card

Gain new customers through Karatbars

To learn more: http://bit.ly/13xmE7X

Alternative ways to get funding for your business-Part 1

There are a myriad of ways to get funding for your business. I have come across some interesting ways to accumulate funding for your business. One of the fastest growing ways is to use-crowdfunding.

Crowdfunding is not for all businesses. Usually, you have to have a product that someone wants in order to crowdfund. Or maybe have a social cause or a new invention. For your business, crowdfunding can be a great way to get funding.

There are 2 types of crowfunding:

1. Rewards-based
2. Equity-based

Rewards-based crowdfunding means that you are accepting donations from people and in return provide them with a reward. You can have multiple levels of rewards depending on the level of donation. Anyone can donate and receive rewards.

Equity-based crowdfunding is not something that is all the way legal yet in the US. This means that anyone can invest in your company and receive equity (shares) of your company as compensation. Not always a good thing if you do not want to give up part of your profit, but still will get you the cash that you need. 

Some popular crowdfunding site are:

1. Indegogo
2. Gofundme
3. Kickstarter

Business Fiance Store offers consulting services for businesses that need to crowdfund. We will do all the marketing, setup, and everything for your campaign. For a free consultation, click here.

Check out my next article on another alternative way besides going to a bank to get funding for your business.

Business Funding-SBA Loans

During my search for business funding, I came across the term SBA loans. These are loans that are guaranteed by the Small Business Finance Administration (SBA). The SBA is not a lender, they just guarantee the loan. Very similar to how the FHA (Federal Housing Administration) works when they guarantee a home loan.

There are certain qualifications that need to be met when trying to get an SBA loan. Personal credit is always a must and even though some say 600 is acceptable, I believe that you need to be more around the 640+ range to even get looked at.

Having a percentage to put down on the loan is always best. Lenders want to see that you have 'skin in the game' and are taking some risk. You can't very well expect for the lender to cover the loan 100%. They won't because they do not have an recourse. This is why business funding needs to have a down-payment as collateral. They are usually looking for about 20-35%.

One of the main things about getting these kinds of loans-you need to have some kind of experience and/or knowledge about the business you are running in order to get approved. If you don't know how to cook or have never worked in a restaurant before, you are probably not going to get approved for a loan to open up a local diner. Just saying....

An SBA loan can be achieved, you just have to know what it take to get it before you think that you are going to just get this money. Remember, it always takes something in order to get something.

Here is a great article about SBA loans: http://bfs.ag/887642/6690.

Ways to Separate Your Personal and Business Financials

I know that this is probably a common sense thing to most people, but you would be surprised with how many people I get coming to me about a business loan and they have not done this. This seems to have been especially common when dealing with sole proprietorships. I get the question of-Do I have to separate my business and personal information? The answer is a resounding-YES!

1. Bank Account-Make sure you have a separate business bank account from your personal bank account. Not only do you want to make it easier on yourself to show your business financials, but this will also prevent you from getting into tax trouble. If the IRS starts to see you co-mingling your business and your personal monies, you could be taxed on all of it and miss out on the nice tax breaks you get while being a business. 
2. Tax ID-Try to have a separate Tax ID number instead of using your SSN. It's not really a necessity (depending on your business entity), but it helps to separate the business from personal information. You can apply for an EIN on the IRS website and get one immediately. 
3. Business Entity-How about forming a corporation or LLC? There are some costs to do this initially, but in the long run both entities have their benefits when it comes to deductions. It definitely makes the separation between business and personal a lot more clear. It can also help in case you are ever sued.
4. Credit cards-Try to make sure that you have business credit cards. You can get one from a bank, credit union, or vendor. The good thing about it is that it is in the business' name instead of yours. This will help you to build business credit on D&B, Business Experian, and Business Equifax. All of this would be separate from your personal credit. I have seen some business owners with personal credit in the 500s and get $50,000 loans because their business credit is great. 
5. Address- Nowadays, there are a tone of home-based businesses. There is nothing wrong with this. However, it may be prudent to lease office space or maybe sign up fr a virtual office. Lending institutions like to see a physical address and not P.O. Boxes. You don't really want people to come to your house for your business, unless you run that type of business. 

Check out this nice article about things you need in order to finance your business: http://bfs.ag/635237/6690.

Welcome to the new blog-Business Funding and Credit!

Hello everyone! This blog was created for us to provide you with information about the world of business funding and credit. We want to bring you the hottest tips such as where are the best places in the US for the rental market, or maybe a hard money is looking for a deal and I can post the requirements for you, or maybe where you can go to get business funding and the qualifications for the loan.

All in all, we want to make sure that we start to educate people about how to go about and obtain business funding and credit. There are a lot of misconceptions going on and we see a lot of people coming to us asking for help and we end up having to educate them about why their business plan is not going to get any investor to look at it, even though they paid $1000 for it.

We will post information as it comes and we encourage a healthy discussion about each topic. This is a place to learn and share information, so that we can continue to build the great idea called business. We may get something wrong, but that's ok. We need to be educated just as much as you do. Nobody is perfect. But let's make sure that we can all learn from it and make the world of business better.

For instance, here is a nice article about 4 ways to improve your bottom line-
http://bfs.ag/983348/6690.