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While there can be numerous sources for new business funding via lenders – which also includes money from credit cards – there are many scenarios that may not lend themselves to getting any type of loan or credit at all. But does this mean that you should give up your new business idea completely?
Not at all. In fact, there are actually many ways that you may be able to come up with some or all of the funding that you need, without having to meet any credit guidelines, or even having a loan to repay.
For example, if you have any money that is just sitting in a savings account, it could be wise to use at least some of these funds to put towards your new endeavor. Today, with banks and other financial companies only paying out 1% or less in interest on savings and money markets, the funds could end up providing you with a much higher return if they are used for a new company or idea.
You could also come up with the funds that you need by selling items that are no longer needed or wanted. For example, take a quick look around your house or apartment. Are there things that you have not used in many months (or longer)? An unused computer, for example, a video game console, or possibly even some unneeded jewelry? While it may not sound like much, if you truly take a good hard look, you could find that you have several hundred, several thousand – or more – dollars worth of items that could be sold in return for start-up cash.
Today, with the tremendous reach of the Internet, you can quickly and easily post the items for sale – in turn, putting cash in your pocket within days, or even hours. Websites like eBay and Craigslist provide the ideal forum for taking your business funding needs to the next phase.
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