The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Financing Business

Remove ads while supporting the Unscripted philosophy...become an INSIDER.


Feb 21, 2018
Maryland, MD
I started financing my business with money I had saved and a loan from my retirement account. The loan is at a 2.75%, which is pretty good compared to personal loans (8-9%) offered by the bank. My business relies on trade of goods so I needed about 45-50k total to invest.
So, for those of you who have needed several thousands of dollars, I am curious about how you guys have financed your business. Have you used Other People's Money (OPM)? If so, what type of OPM was available to you? Any lesson's learned? Did it work out or you regret it? Why? I have not used the credit card yet, but I think that also counts as OPM.

Don't like ads? Remove them while supporting the forum. Subscribe.


New Contributor
Mar 5, 2018
If you can put some of your own money forward you can probably find funding programs in your area like so (first thing I found):
Funding Programs | Maryland is Open for Business

You need to do some digging usually, call a couple of people and go present your project. Depending on where you are, government might be giving money like if it was nothing (the entire process can be a pain though).

If you don't have the minimum amount of money required by program X (my experience was 15%-25% of the total project's cost) go find an investor or any other OPM options and use that money to upfront the loan offered by funding program X. They usually don't care, some even accept credit lines as a valid upfront option.

Also check if your bank (or any bank) has some loan options where a part of the risk is shared with the government. Better rate and easier to get.

Here's a video listing the many ways to finance your business:

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
MARKETPLACE Fox's Web Design Guide: Earn $100K this year (Yes, 2020!) and Go Fastlane
@Fox I'm also wondering about this, if I pay now, will I be on the program for 1 year or until...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Ah, I should've checked here to find out that it was free! Although, Amazon only charged $2 for...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Pick the one you need most. Some just buy them all. :D Loving your email sequence.
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Dropping a quick note in here to say... if you are on TFL, you are part of an elite group of...
  • Sticky
MARKETPLACE Kill Bigger Incubator
I joined @Kak's business incubator in the first week of May. During our daily chats we uncovered...

Visit A Forum Sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom
AdBlock Detected - Please Disable

Yes, ads can be annoying. But please... support the Unscripted/Fastlane mission (and to respect the immense amount of time needed to manage this forum) please DISABLE your ad-block. Thank you.

I've Disabled AdBlock