Access to capital is one of the key fundamental needs for a business to thrive and grow. Capital can give business longevity. We discussed this in a previous post regarding cash flow in your business.
We know it’s important. We desperately seek it. The trouble comes in sorting through all the junk on the interwebs to get to the helpful information. Outside of factoring invoices, guaranteed loan scams, faxed “we get you cash” pages, when the bank says no, where do small business owners and entrepreneurs turn to for capital? Learn more about business handling by checking this checkstub generator review.
Fortunately there are a number of organizations in Michigan dedicated to assisting business owners in securing capital for their business. We’ll get to that shortly. Before you consider going after capital have you put together a solid business plan for your business? You’ll need it, while if you already have a business and you’re producing company voluntary arrangements but is rejected there are resources that help with this at https://business-insolvency-company.co.uk/what-happens-if-my-cva-is-rejected/.
If you’re an existing business putting together a business plan for the first time, Talan can help you identify areas within your business that need shoring up through our BIZ Strength profile, and it’s FREE.
Back to the previously scheduled blog post….
Besides your friends and family there are some amazing resources for finding capital in the state of Michigan. Listed in no particular order:
In Macomb County, their staff offers up options to legitimate financing alternatives if a bank doesn’t work.
The Michigan Economic Development Corporation has access to state funds, federal funds, as well as many other alternatives for your business
The objective of the Alliance is to encourage entrepreneurship and assist small business owners throughout Livingston County by providing FREE or low-cost assistance.
Yes. You can get grants for your Michigan business. You however need to do the research. Isn’t it nice to learn something new?
Livingston County offers a Commercial Revolving Loan Program through the GLCEDC.
Sometimes you need an angel to come along. If your business idea is good enough this may be the route to go.
At Talan we believe in helping you find success in your business. We are passionate about small business and the people who run them. If you ever find your self in need of assistance, please don’t hesitate to reach out. While the list gets you started, it is not a comprehensive list. We like to be interactive…so if you happen to know of other creative financing options (legitimate), add them to the comment section.
Until next time.