Funding Your Business

In: Business and Management

Submitted By ogilm001
Words 715
Pages 3
I am looking at obtaining a source of funding to finance the early stages of my business. My goal is to create a successful, profitable and diverse business that will thrive in the current economy and continue to grow and expand over time, one very important goal that must be achieved is to build the company in such a way that as the economy, technology and consumer demands change our company will be able to change and adapt with minimal interruption.
Obviously the key to this plan is to obtain funding so that the groundwork for my long term vision can be laid and for this I have chosen to borrow money from a lender in the form of a business loan. This is a very important step and I have given very careful consideration to all possible ways of funding my company and believe this is the best option. Now I have made a decision on funding I need to decide on exactly how much money I need to borrow. Borrowing too little could have major consequences leaving my business short on resources which would severely impact our ability to function and prosper. Borrowing too much could put a heavy burden on the business when it comes to repayments leaving the business short of needed funds to continue operation.
I strongly believe that with the current market showing growth of two percent annually this is more than enough to easily satisfy all loan payments while having enough left over to honor any other debts and operational expenses as well as funding our own future growth even if the annual rate of growth fluctuates.
As with anything there are pros and cons that need to be considered and borrowing money is no different. One of the benefits with choosing a business loan for my business is I am only financially responsible to one lender rather than many smaller investors. A business loan allows me to retain complete ownership of my business which is extremely important as…...

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