The old saying goes, "It takes money to make money". The problem for most is that we don't have the money to make any money. As a child your parents teach you to save money, but no one tells you how to save when you don't have enough. There are plenty of people with great ideas, but they can't get off the launchpad due to a lack of funding. In my recent post titled "Fail to Plan, Plan to Fail" I direct readers to start with a plan for their business before anything else. As important as it is to start with a plan it is just as important to realize that even though you may need a source of financing for your project, the bank should be your last stop.
As an entrepreneur you have to be aware of all the resources around you. As a former bank manager, many entrepreneurs would come to see me for financing, but in all reality the bank should be your final step; not your first. Banks don't want to invest in any risky lending. You have to almost prove to banks that you don't need any money, before they will actually lend you any. Entrepreneurs looking for funding have to start somewhere and their local bank is not it. Organizations like the SBA and your local city government are a good place to start.
Below is a list of some great sites to help those entrepreneurs seeking funding for their endeavors:
o www.opportunityfinance.net
o www.microenterpriseworks.org
o www.cdfi.org
o cfed.org
o www.cdvca.org
o www.ncif.org
o www.eda.gov
o www.firstnations.org
o www.oweesta.org
Be sure to check out these sites, because they provide great tools and direction in finding your pot of gold. Now that I have shown you the rainbow, which way are you going to go?
o www.microenterpriseworks.org
o www.cdfi.org
o cfed.org
o www.cdvca.org
o www.ncif.org
o www.eda.gov
o www.firstnations.org
o www.oweesta.org
Be sure to check out these sites, because they provide great tools and direction in finding your pot of gold. Now that I have shown you the rainbow, which way are you going to go?
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