QUARTZ HILL BUSINESS DEVELOPMENT CENTER
FINDING CAPITAL FOR YOUR BUSINESS
After you have completed a draft of your plan, you will have an initial money amount needed to carry out
your preparation, startup, and running of the business. For your information, remember that when you work with a lender,
you need to have between 25% and 30% of the total amount needed as your contribution toward the effort.
As an example, if you need $200,000 for the plan, then you need $50,000 to $60,000 as your part of the
collateral so that the lender would consent to loan you THE REST!
Other sources of capital are home equity loans, selling possessions, borrowing from friends, trying for venture capital,
or writing for a grant. Depending upon the business type and needs, grants are short-lived, limited funds. Your best
bet is to prepare a convincing business plan, and working with a lender to provide the monetary support.
Borrow from Friends