Family personality relationship

How to Know If You’re Financially Ready to Start a Business

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wants to go into debt, after all? Unfortunately, most entrepreneurs don’t have that kind of capital on hand.If you don’t have the personal funds to get your business up and running, you’ll need to look at other sources to raise capital.

If you have a preexisting relationship with a bank, start there. Your current bank will already know your creditworthiness. Loans from the U.S.

Small Business Administration (e.g., 7(a) loans, 504 loans, or microloans) are another excellent option. Some aspiring entrepreneurs turn to friends and family members for startup money, but this route has pros and cons.

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