Strapped for Cash? Three Modern Ways To Take Out A Small Business Loan
0Source: Entrepreneur
Small businesses can often find themselves strapped for cash. When payroll is due, and accounts receivables are still high, cash is king. Even the most successful small business is susceptible to this type of crunch.
As a four time venture-backed entrepreneur from the Silicon Valley, who has raised a total of $18 million for my tech startups, I’d like to offer some advice to early-stage entrepreneurs in hopes to shed light on alternative avenues to raising money.
Consider diversifying your fundraising strategy by adding non-conventional fundraising options. These days, there are several options for entrepreneurs. Technology and finance are combining to provide creative solutions to help business owners push through monthly bills without the normal headaches.
The reality is new innovative options exist beyond banks for entrepreneurs looking to leverage their strengths while reflecting their modern know-how. Also, the more entrepreneurs diversify financing independence early on, the more power they gain to shape the dynamics with their board later on.