How to Fund Your Startup Business in 2024 | Access to Capital Part 1

In this episode, we delve into the world of startup funding, exploring the different avenues for raising capital and how to navigate them.

1. Identifying Your Unique Capital Requirements: We kick off the episode by helping you identify how much money you need to start and run your business.
2. Lenders Want You to Put Money Down: We discuss why lenders want you to invest your own money in your startup.
3. How Do Financial Institutions and Lenders Define a “Startup”: We explore how lenders view startups and what they look for when deciding to invest.
4. The Difference in Startup Costs Between Products vs Services: We compare the startup costs for product-based and service-based businesses.
5. Untraditional Money Sources: We look at some unconventional ways to fund your startup.
6. Impact of Personal Credit: We discuss how your personal credit can affect your ability to secure funding.
7. SBA Lender Match: We introduce you to the SBA Lender Match, a tool that can help you find lenders.
8. Cash Flow/Collateral: We explain why cash flow and collateral are important to lenders.
9. Professional XP: We wrap up the episode by discussing how your professional experience can influence lenders.

Host

Hosted by the Farmingdale SBDC’s Business Breakthrough | New York Podcast. The Farmingdale SBDC is part of the New York Small Business Development Center (SBDC) network of 20 campus-based centers and outreach offices located across New York State.