5 Ways to Get Funds without Banks

Have you been thinking on ways to get funds to start a business without going to the bank based on some reasons, then this post is specifically made for you to learn and see if it works for you. 

Getting money to start a business seems to be difficult and challenging for start ups, but it seems their are ways to get funds for you to start your small business without you visiting or accepting the terms and conditions of banks in your area.

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You could get funds in various ways which may be through the internet or offline with or without banks, because banks need some asset which you may not have right now but check the folowing ways to get funds to start your business ;

1. Wonga : This is a site that that gives short term loans to users which may be paid withing few weeks. Wonga borrow people cash for immediate need or to start a business which will be re-payed in due time. You may borrow up to $1000 or less. Check Wonga for more about their terms and conditions

2. Co Founder : in case you are finding it hard to get fund to start a business or else, why not seek a co-founder because even the big companies and entrepreneurs in the world also started with a co-founder. The beauty of this is that, the co-founder loves the business idea, get the money and promote the business.

3. Borro.com : Borro is a soft loan company that borrows you money and repay back in 6month. You may not need to go through much stress with borro unlike the bank where so much collateral is needed to get funds for your business. Just as the name implies Borro, visit them, read their terms and condition and get the fund for your business.

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4. Family and Friends : This is another good way get funds to start your business, it requires no bank collateral or asset, just tell them about your business, convince them about what the business is and how you intend making profit from it. Am very sure some family will help get the money required for such business

5. Lending Groups : their are many groups in your area or on the internet can give you fund to start a business. Some groups may be local where every member contributes money for a start up at a particular time and after a long period, you also get contribution from others when its your turns. This is mostly found in work place, offices, markets and many more.

Can you now see that one may not necessarily go to the bank to borrow money to start a business before getting the fund for the business. Thanks for reading and you may use the comment box below to make a suggestion or ask question which will definitely get immediate answers.