hermitcrab
New Contributor
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:
View: https://www.youtube.com/watch?v=YjcIRQuCXr0
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: