Strong Start for 2017 Small Business Lending for Startups
Many people were unsure of what 2017 would hold for Small Business Lending for Start-up Companies, but reports show that so far, things have been strong.
Many people attribute the growth of Startups to companies like IMMFinancial.com where funding is provided to businesses that are not a typical “bank customer” because they may lack the “time in business” requirement or the “collateral” requirement that most banks look for.
According to Wade Henderson, CEO of IMMFinancial.com“Since we started in 2006, we have always found ways to help businesses with commercial funding programs that the banks just do not offer. It has lead to some really wonderful success stories, that just would not have been possible if we were not able to offer the Small Business Lending Programs that we do. It really is exciting to help new businesses grow!”
A startup business is a real challenge to take on and one of the most difficult things to manage, even more that getting your first sales, is getting the funding that is needed to help the new business grow. Entrepreneurs often say:
Getting the sales is not the most difficult thing to do, it is being able to fulfil the sales on a limited budget that is the real challenge.
The Real Challenge for an Entrepreneur
We have a very informative video below, which goes in to detail some of the financial options that are available to help companies grow. It will discuss Small Business Lending programs, many of which, you will not find at your local bank. Take a little time and watch it, it could be one of the best ways to spend 15 minutes if you are a Entrepreneur looking to grow your business.
Once you have the right business financing in place, you can concentrate on other areas of your business which will help your business grow and every business has its own mix of what is needed. No two businesses are alike so what works for a friends business, will not likely work for yours. You will need to do some basic analysis to start, see what works, and more importantly, what does not, refine your approach and try again.
The trial and error approach really is the best way to test your theories, so keep your testing in small pockets, if you find something that works, try a little larger.
Go Big OR Go Home
Some would say the “Go Big OR Go Home” theory is best because you get an economy of scale when you do something on a large scale rather than smaller tests, and I will be the first to say, this may be true, but not everyone has a large and disposable budget that they can use to grow their business, so for the rest of the Entrepreneurs that do not have really deep pockets, small trail testing will be best.
Today, there are many ways to grow your business using Social Media. These things were not available that many years ago and the markets are always changing. If you do not have big money to throw at Google Adwords, making a creative Facebook or Twitter campaign using your Social Network can help spread the word about your business.
The most important part, in my opinion, with respect to being an Entrepreneur is to do something that you are passionate about, no matter what it is. If you are going to spend most of your time doing something, make it something that you like to do. Being an Entrepreneur is not supposed to be a “job”. A job is something you do because you have to. Make your business something that you “want” to do, it will be much better for you.