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Start up business loans in New York

When a business is in its early operation stage, it is called a start up. Almost all the big companies around the world were once a start up. A simple idea in an entrepreneur’s head has the potential of growing into a global business. To make the idea a reality, lots of things needs to be done. In the initial phase, securing the necessary capital is important for the venture to grow. There are many available options to secure the required funds, which are explained as under:

SBA Microloans

SBA microloans are suited for people who require smaller amount of capital than traditional businesses. Typically, online businesses, freelancers, home-based business owners and similar types of entrepreneurs are the ones who go for SBA microloans. These loans can range from as small as $1000 to $50000.

Business Credit Cards

Business credit card is one of the ways to fund a start up. There are many business credit card providers available to choose from. With a business credit card, it becomes simpler to keep track of expenses. One must carefully choose a business credit card which can save precious dollars.

Small Business Grants

Small business grants are offered by government as well as corporates. These grants can vary based on which organisation is offering them. The amount can be small or large depending on the organisation.

Friends and Family

The easiest way to secure capital for your start up is through family and friends. This is because a factor of love also comes into play. They tend to give you money even if the venture seems to be risky. Even if you loose their money, you will not feel burdened to pay your dues immediately.

Crowdfunding

Crowdfunding is becoming a popular way to raise capital from the mass. Many online portals a providing the service of crowdfunding.

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