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IMO, the easiest way is to borrow from a bank. If you're in the EU the EC give out startup grants. In Scotland we get them through our local Councils.
by jamesjguthrie 14y ago
IMO, the easiest way is to borrow from a bank.
If you're in the EU the EC give out startup grants. In Scotland we get them through our local Councils.
- merinid 14y agoPractically impossible to get a loan for a startup in the US :( Anyone have experience with this? Would be very curious to hear about it.
- bobbaddeley 14y agoWe've tried this. Banks won't loan unless you have prior success in that business. Only a few do Purchase Order financing (where you show them a list of pre-orders that you need money to service) and it's expensive and also requires prior success. All would require a personal guarantee. I had one tell me they wouldn't loan unless I had the amount of the loan in an account at their bank. What's the point of that? Generally speaking, U.S. banks are worthless for startups, unless you want to fund your business with credit cards.
- merinid 14y agoactually there are a couple of VC Banks that do this (again generally further stage companies). I know http://www.triplepointcapital.com/ http://www.triplepointcapital.com/ does this (they invested in our startup, but for equity).
- jamesjguthrie 14y agoI really meant get an unsecured personal loan and finance your business with it. Surely can't be that hard in America?