If there is one question i have heard over a million times it’s “How do i get funding for my business?”. These question normally comes in different forms such as; How do i get capital for my business?, How do i raise money to start a business? , How do i finance my business idea? etc. So i decided to write this article to share different ways to get funding for your business.

One of the greatest challenges every startup or entrepreneur faces, is the problem of financing a business, raising capital to start a business or growing an existing business.

It doesn’t matter whether you are in business or a startup, there comes a stage in your business where you will need to raise money or more money. So if you have an idea that you are planning to take to the next level. Here are ways to get funding for your business:

Check Out How to make money online

Ways to get Funding for your business

1. Personal Funds : The first thing that should come to your mind when looking for capital to fund your business is, How much do you currently have to start the business, will the money be enough to kickstart, this will enable you to come up with the total amount you will be needing for the business.

2. Friends and Family: Most startups usually get their first funding through friends and families. These could be your best friend, your parent, your in-law, colleagues, close associates etc

3. Micro finance: One of the easiest forms of getting a loan or money to start a business as a small and medium enterprise (SME) is through micro finance banks, you will hardly need to provide a collateral, you can get up to 5 million Naira depending on your business strength. The interest rates for micro finance loans are pretty low compared to commercial banks. Micro finance banks don’t give long term loans.

4. Grants: When looking for capital to start a business, it will be very wise to try all available options which includes grants either from your government or charitable organisations who gives grants to help enterpreneurs and upcoming businesses. Grants are non-repayable funds which could be in form of money, products, machinery, goods or waiver to assist a businesses.

5. Get a partner: Another great way to fund your business is to get a partner. In this case you have an idea and your partner have the funds, then you could form a partnership based on an agreed equity between the two parties. Terms and conditions needs to be clearly laid down.

6. Venture capital: Before you contact a venture capitalist you really need to understand how they work. Most venture capitalist invest in early startups or existing business with great potentials with the aim of taking a huge share in the business. So if you are not comfortable with giving a large share of your business out to someone else. This might not be for you.

7. Angel Investors Fund: Angel investors are direct opposite of venture capitalist. Angel Investors provide funding to help your business grow and success rather than the benefit they will derive from your business.

8. Bank Loans: One of the most popular yet difficult sources of financing your business is the bank loans. Banks requires so many documentation and collateral before loans can be given. And unlike microfinance loans which could be access in a matter of days , bank loans often take longer and the interest rates can be killing.

9. Corporative: Any easy way to access almost an interest free capital to start your business is to join a corporative of like minded people that offers loan facilities to their members which could be in form of overdraft, soft loans, interest free loans etc

10. Credit: Another easy way to source for funding for your business if you are into product sales or manufacturing is to get credit facility from your distributor to enable your to do bulk purchase and pay at a later date.

11. Apply for business funding competitions: Another great way to fund your business is to apply for business funding competitions, business and entrepreneur reality show

12. Crowdfunding: Crowdfunding is the act or practice of seeking for funds for a project, business idea or venture through many donors or contributors via the internet. This allows you to solicit for funds from the general public to fund your business.


Source Business Mopol

To seek funding for your business, you need to understand the various options available. Don't let that great idea die due to lack of funding http://www.businessmopol.com/how-to-get-funding-for-your-business/

Following.

nice info

Meet AMCON or EFCC to loan you some of the seized funds

All of the listed options above is not reliable in this our present economy...

u beta add MMM too

DAT will b after 2019.... No fund available any were in 9ja

Inc

Dis one na Business studies class

Gud read!

Another way to get funding is by showing your business proposal to Pastor Tunde Bakare.

Thanks

All of the listed options above is not reliable in this our present economy... Business studiesMp3 Download Mp3 Download
zip album download zip album download

oluwasegun007:
All of the listed options above is not reliable in this our present economy...

I tell you my bro,even no 1 that should have been the most sweetest option is very difficult to save up in this present economy..

I give loans without collateral. But not more than 50k to help and encourage young entrepreneurs

Nice post.

Pls, how do one acess the micro finance

I always wonder why we always say 'these won't work in Nigeria', have you tried it?

dead on arrival....pls whatever is not realistic should not make front page...we need applicable knowledge....not fantasy sweet talks.
great writeup...but you could have done better providing practical examples and instances;bodies one could approach to get fund.
the only realistic option is that of getting a partner that can support.

NJPot:
I give loans without collateral. But not more than 50k to help and encourage young entrepreneurs

I need a loan

Keneking:
Meet AMCON or EFCC to loan you some of the seized fund ;Ds

;D4

NJPot:
I give loans without collateral. But not more than 50k to help and encourage young entrepreneurs

how do I contact u.... Drop ur email or number

NJPot:
I give loans without collateral. But not more than 50k to help and encourage young entrepreneurs

sir I am interested in your offer, how do we connect for further talks?

check my signature

NJPot:
I give loans without collateral. But not more than 50k to help and encourage young entrepreneurs

please i need ur loan o, how can i acess it

ponti93:
please i need ur loan o, how can i acess it

Follow the link below. For only Nigerians please.

http://chukonearth..ch/

leksmedia:


11. Apply for business funding competitions: Another great way to fund your business is to apply for business funding competitions, business and entrepreneur reality show

Kindly elaborate on this with examples please.

Larryfest:

I tell you my bro,even no 1 that should have been the most sweetest option is very difficult to save up in this present economy..

That's the unfortunate reality.....

Hmmmmmmmmmmm

NairaBet