Sources of Funding for a Business...

Can anyone point me in the direction of a list of the potential sources of funding for a new business? Obviously I know that the banks and a business bank loan is perhaps the most obvious and even maybe useful form of funding but what else is there?

I am particularly interested in how to go about finding what local grants there are from the government or council and so on, or bodies that have funding available - how do you find out about these, what sort of businesses they will look to fund and the sort of things you have to do and show in order to get funding?

No experience in the area, but would really like to find out more generally about finding business funding that doesn't come straight from the bank.

Thanks for any light you can shed on this or help you can provide!

Jim

Re : Sources of Funding for a Business

Hi,

The site I use which pulls together Grants and Loans on the same site is:
[b www.j4b.co.uk
(This site has a searchable directory for grants, help and loans. You put in your details and it finds you the correct grants etc.)

Small loans Guarrentee:
This is a goverment fubnded initiative funded by banks that allows you to take a loan that they guarrentee. Below is a link for HSBC version. ALL LENDERS USE THIS LOAN
http://www.hsbc.co.uk/1/2/business/finance-borrowing/small-firms-loan-guarantee

If you need a more detailed view mail me at paulcox@ologybusiness.com and I will reply

Paul Cox

Re : Sources of Funding for a Business

Paul

Many thanks for the information there - I shall check out the sites you mentioned.

Happy New Year!

Jim

Re : Sources of Funding for a Business

Jim

You could try talking to someone through Business Link too - I believe they are very helpful.

Carl

Re : Sources of Funding for a Business

Hi Jim

Try my funding options podcast which should give you some options
http://www.strategyconsultinglimited.co.uk/business-funding.html

Hope that helps

John

Re : Sources of Funding for a Business

Hi Jim
I am just going through "getting funding" for my business as well. Talking to the high street banks to get an overdraft, a loan or asset finance has been a real pain as they keep you going in circles. The banks were simply not interested to get involved in my business as we are a start-up which has been branded as "too risky" unless the requested funding can be completely guaranteed.
However, I can only praise John and "Strategy Consulting" for their outside of the box thinking and the very kind introduction to one of their contacts and as a result, I am now making excellent progress. So, John, thank you very much for your team's expertise, very much appreciated, eventually, light at the end of the tunnel.
Ingrid

Re : Sources of Funding for a Business

Always good to hear examples of About My Business members being able to help each other out

Dan
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Web Design

Re : Sources of Funding for a Business

Hi Jim

You could consider asset based funding solutions to either pay for new equipment, or for releasing equity based on the value of any owned equipment.

Contact me through our website at www.solutions4finance.com

Regards, Justin

Re : Sources of Funding for a Business

A lot of asset based funding solutions require a fairly large minimum amount required, but certainly worth considering

Chris

Re : Sources of Funding for a Business

We don't necessarily need to be looking at a large amount. Drop me a line through the website.

justin
www.solutions4finance.com

Re : Sources of Funding for a Business

Interesting website Justin!

Re : Sources of Funding for a Business

If your looking for ANY kind of commercial finance for projects in the pipeline, from wageroller(we are agents for them), property development finance (upto 100% funding), commercial mortgages, supplier leasing, finance leasing in fact any matter concerning business finance we will find the solution most suitable for you.

Re : Sources of Funding for a Business

This feels dreadfully like a raw plug but this quite a wide area that I've been involved in for some time so to try and give some advice, last year I wrote a book on it (Raising Finance For Your Business). In it I have tried to cover how to decide what sort of finance is right for your requirement and then where (and how) to get it.

It's available from Amazon (or your local library I guess - which makes me feel a lot better about posting about it)

http://www.amazon.co.uk/Raising-Finance-Your-Business-Managers/dp/1845281276/ref=sr_1_2?ie=UTF8&s=books&qid=1195665504&sr=8-2

Hope it may be of help.

Re : Sources of Funding for a Business

Also happy to throw my hat into the ring!

We specialise in IT finance (including for software transactions) but are also able to offer very competitive yet flexible funding for other business assets.

Because of the funding partners we work with, we can offer funding to start ups and are often able to better the terms offered elsewhere.

For well established,large clients, we also offer a pricing guarantee.

Our site will tell you more:-

http://www.thebosscorporation.co.uk

Re : Sources of Funding for a Business

One thing you should be aware of Jim is the danger of getting involved with the kind of outfit that undertakes to advance business loans, regardless of the state of your accounts or credit history. These will always require a guarantee secured on your home. The upshot of taking out loans from such firms will be huge costs to your business and the eventual loss of your home, leaving you with nothing. I have seen this happen to two people I have known in recent years.

Joe
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