5 Sources For Your Startup Funds

Chasing seed money to start up your new venture is certainly not the only way to get started. It can slow you down and limit your creativity when there are plenty of other great ways to be resourceful and get your business off the ground or expand. Though if you are really determined to seek outside funding for your new enterprise then check out the following 5 ideas.

1. Peer-to-Peer Lending Sites

There are now a couple of peer-to-peer lending websites out there like Prosper.com where you can post your business proposal and try to attract lenders. However, keep in mind that they do look at credit and of course interest rates will be much higher for those with low credit scores.

2. Venture Capital Directories

You will also discover one or two directories out there which list individuals that may be prime candidates for approaching for your venture capital needs. Searches are often initially free, but expect to pay for contact details.

3. Mailing Lists/ Lead Lists

The best mailing list companies now offer additional features for filtering out targets via how much they make and their investment appetite. Keep in mind that a lot of this information may be junk and ask yourself if this is the best use of a mail campaign or if you should just be marketing to customers.

4. Private Mortgage Lenders

The real estate business is packed full of hard money lenders who loan private money to investors. Could it be worth approaching them with your idea?

5. Angel Investors

Website ‘Angel List’ has been responsible for facilitating the funding of many hot new start ups and is where you will find a lot of high profile angel investors hanging out. There is definitely money here to be had, but make sure you really have your stuff together before approaching anyone.