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I need $12,000 to $15,000 to start a business. What is the fastest, easiest, LEGAL way to raise the funding?
Grants would be great , but investments and/loans would be regrouped within12 to 24 months at most. New ideal, could be started by the day after tomorrow.
2 Answers
- imisidroLv 71 decade agoFavorite Answer
Grants are NEITHER the fastest and easiest way to get funding. From the Small Business Administration http://www.sba.gov/mostrequesteditems/CON_FAQ2.htm...
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"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."
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If you want the fastest, it will be family and friends. The rest -- bank loans, microloans, investors -- take up a month or more to complete. Plus they need business plan, collateral, equity investment, stellar credit history, etc
Otherwise, max out your credit cards. Not the most advisable given its high cost, but credit cards are the fastest and easiest way. And it is commonly used by many startup entrepreneurs
- Anonymous1 decade ago
You will find a wealth of resources at your local Small Business Administration office (in some states they're called the Small Business Development Center). One of the things the SBA does is help small business owners locate start-up funding.