Alternative against taking business loan

[Nomad]

If you do not have enough funds for your business and if you do not want a loan for your business, the only way to fund your business is by finding a new partner or investors

 

[Psalmseen]

Taking loan for a business isn't actually advisable. Not at all.. There are lots of options to replace obtaining loan. The best thing to do is to fend for your capital on your own or better, make it a partnership business

 

[SpyDer]

There are preferred option over taking an advance to begin a business on the off chance that you can't raise the business capital without anyone else. You may consider having a colleague. This is a decent method of sourcing for business capital request than beginning on layaway. There are a few group called private supporters. These are normally rich characters who have the stuff to fund any business however don't have the business thought. They are consistently prepared to back as long as you have an awesome strategy.

 

[GIFTMICHAEL]

For me the best alternative to raise money for our business start up, is through savings, and doing some menial tasks online and offline, and save reasonable amount long time, and curtail down our spending.

 

[Saqibraza]

Business properties such as machinery, cars, houses, and inventory may be used as collateral for a business loan. Receivables may also be used as a form of protection. Any valuable business asset that the lender can sell to repay the loan if necessary is called collateral.

 

[cowantussie]

Alternative lending options include direct private lending, marketplace lending and even crowdfunding platforms. Alternative loan types include lines of credit, short-term loans, microloans, factoring, equipment financing, bridge loans and merchant cash advances.

 

[Damscooguns73]

Concerning alternatives against taking business loan. Well, the article or write up is very okay. An individual who has business idea and experience but don't have a capital to kick start the business can go into business partnership who has the financial capability to establish the business

 

[tyrim88]

Taking loan for a new business start up is not really good for stability and growth.It is good to start with what you have and grow from there,one can also borrow from family members or friends.And also looking out for partners could bail us out from pulsity of funds.

 

[Kingsley]

Hmmmm, this is very tough mostly when there is no money to start up but one is solely depending on loans but again the only possible way to start is looking for promoters or starting extremely small. This are the two ways that comes to mind if you are starting without loans.

 

[eLdavis]

If you are keen to start a business but have no starting capital, then there are some alternative options rather than taking out a business loan.
Firstly, have you considered starting off with a business that doesn’t require much capital that you could perhaps self fund? This will allow you to earn some money and then invest your earnings into the larger idea. Always my preferred option!
Secondly, think about taking on a business partner. There will be people out there who want to partner into a business but don’t have experience in business, but do have capital. Discuss an equal partnership. You can often find these people on message boards and forums. They will probably even bring their own set of skills to the table!
Lastly, if you are adamant on taking out a business loan, then consider purchasing an established business.
There are many sites where people list established businesses for sale, and if you can find one in the area you’re looking to work in, then this may be an option for you, because with an established business, you will be able to ask for accounts and be sure that the loan repayments would be covered before taking out the loan.

Personally, i prefer starting up a business with my own funds. Mostly when its a business i have never tried before. I dont want to work under pressure. Taking loans most times can actually influence The decisions you make in your business

 

[Justin]

Burrowing from your friends and family where you do not have to pay interest and all you have to do is return only the principle amount is the best alternative to a business loan

 

[Nomad]

If you are planning something big burrowing from friends and family may not be enough, in that case you can look for angel investor, which can help you fund your business

 

[Senator]

The easiest and the most probable alternative to taking a loan are you either go to your friends and relative to seek help for funds or you save funds from your personal savings for the business in the future

 

[Richard92]

The easiest and the most probable alternative to taking a loan are you either go to your friends and relative to seek help for funds or you save funds from your personal savings for the business in the future

The best alternative against taking business loan is getting financial assistance from friends and family with this you will not go for any loan in starting up your business you can also save up fund to support your business

 

[Fozzy_boy]

I don’t really like taking a business loan. I prefer starting small to taking a business loan. No business promise to be successful

 

[Chibson]

I don't usually advise people to take loans in order to start businesses. It is better you do some menial jobs and save money before starting a business.

 

[nimzy]

There are better alternatives than taking loans from individuals and even corporate institutions and also engaging into business as partners is better you start small business that requires no much amount of capital to start rather than to take a loan because with time with good management the business can grow more bigger than it is expected to be.

 

[Bookwormlux]

The partnership idea would be the most effective as so many people are willing to invest their money these days, though you have to prove to them how reliable you are.

 

[Kelly5]

Yes this suggestion really makes sense as an alternative to collecting a business loan. Maybe you should first start up something that can be a small scale business first and later use the funds and proceeds from it to start up your choice business later

 

[Razor1911]

Yes this suggestion really makes sense s am alternative to collecting a business loan. Maybe you should first start up something that can be a small scale business first and later use the funds and proceeds from it to start up your choice business

But that will take a lot of time. I am not saying that you shouldn't do, but it will eat up a lot of time to first settle a small business then again reinvest to expand it.