Working capital
Hi everyone, What are some good resources to get funding for working capital besides SBA loans? Any help is greatly appreciated. We are open for equity based financing/angel investors?
Forum Discussion
Credit unions and credit lines have been a good step for me. If you open account after 90 days they’ll open a line of credit for you.
I have a personal checking chase account with $1000 in it. They opened a $6000 line of credit for me after 90days.
another choice is a HELOC or personal loan. SBA offers better rates but if you pay your loan back early you can negate the interest on the loan
Check your local banks one of them probably partners with the SBA to do loans more readily they can help you gather everything you need to get that loan easier. For example, Northwest Ohio’s SBA ready bank is Huntington bank.
This provides some insight and helps you in the future.
Thank you so much. Really appreciate the advice. We need something quickly so would appreciate if you could suggest which ones are faster may be >30 days or less to get funding?
