Alternative against taking business loan

[Josemendez]

You have laid out good points here , however one can not use because of not having enough capital to abondone his dream business for a business with low capital demand . The better option is to start the business in a small scale ,and from there things will grow with time .

 

[Sheyemanu]

There are numerous options to taking a business loan. I'll mention some of it here. One is applying for a grant, you could appy for a grant to support your business from the government or even the private sector. Another alternative is looking for investors to invest in your business but this needs a great deal of pitching

 

[Adesuwa]

Small business financing is notoriously difficult to procure. Most bank loans require that the applicant have stellar credit 2+ years in business- and even then, there's not graduatee you'll get a loan.

 

[Psalmsavatar]

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.

 

[Hdre3m3n]

There are good and better alternatives to getting a business capital without obtaining loans. I think your post about starting a business with small capital first is a better option to start a business

 

[Profuk57]

it is becoming extremely difficult to take loan from Bank in order to do your business, so I think the only alternative for you to run your business is either you meet a family member for money or you could ask for government grant or you ask your relation for help.

 

[tuna89]

This is one great post i have seen in long time, getting a business partner can be done especially if it is someone you can trust because business partners may have ulterior motives and some may be adamant on following the business plans thereby leading to clashes. I prefer the self fund method whereby i am able to save a large part of my salary and then put some into the business no matter how small i have to start, with good management, there will surely be improvements.

 

[Shayo]

I

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.

Self funding still remains the best, you get to work with full attention without the issue or pressure of having to pay back loans.
Partnership is also a good idea, I see no reason why people dread it since there will be an agreement and clear terms of business.

 

[Divulgence]

The different varieties of alternative business loans offer business owners the advantage of choosing the option that best fits their needs. We’ve filtered through the types of alternative business loans to provide you a refined list of the best options.
Top 6 types of alternative business loans:
Business line of credit
Unsecured business loan
Invoice factoring
Equipment financing

 

[Abelcairo43]

The alternative of taking a loan is very risky,I prefer to attach yourself with family and friends form a group or look for a business partner to enable you use a little capital at hand and combined with your partners they run your business successfully instead to go and take loan

 

[Sotherefore]

I don't think there is any alternative for that it is either you have the money to start up a business or you get the money from the bank or you can decide to stay like that because I don't see the need of you getting money from the bank to start up a business that is just new.

 

[Neeta313]

Your best alternative is to get the loan from your family, because in a case whereby the business does not yield profit, your family will understand and allow you to take time in refunding them, some might just let the money go. You will have peace of mind to an extent when the loan was gotten from a family member rather than friends or random people.

 

[Akinwale701]

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.

There are other ways to raise funds for your business if you don't want to obtain loans. You can cultivate the habit of savings, save as much or little as you can and use it to start your business. Also, you can talk to your family, friends, and loved ones to raise funds from them in the stead of obtaining loan.

 

[Snazzy001]

Patience is a virtue.you must not start a business on your own and skyrocket to being a boss.so alternatively, you can work or learn under someone and get settled after five years of your service.this is convenient i think, because after five years, you become your own boss.

 

[Ebensco]

I don't think taking a business loan is such a bad idea. If you have a realistic view that the business will boom and the loan will help then you should. I think we are all doctrine to hate the idea of loans and this should stop. Even wealthy men take loans once in a while to help their business move forward.

 

[zahidhussain]

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.

If we are purchasing a running business there may b some issues.
If we didn't have enough capital to purchase that business we will must take loan. So it is better if we hair a partner so that he will invest and we will work.

 

[Adetayo100]

Alternative Sources of finance for business are equity, debt, debentures, retained earnings, working letter of credit, euro issue, venture funding etc. These sources of funds are used in different situations. They are classified based on time period, ownership and control, and their source of generation.

 

[Herzhan]

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.

Do you mean Alternative? Oh no, it's not done. Business loan is there for you to help you boost your business. Business loan is a opportunity given to businessman or businesswoman to boost his or her business to grow and yield profit

 

[Bilal0087]

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.

I never consider it a wise step to start a business by taking loan.
It is better to start a small scale business with your own savings, if you don't have money you can do some jobs for few years to collect money for your own business.

 

[Lagazine]

Taking business loan is very dangerous for a long time business. It can kill the whole business in just a little period of time. The only alternative to that I to concentrate on different online business to start the business. Or you use your monthly income to start in a low class business, before taking it to the greater height.