If you are looking for a way to get money for your business, maybe one of the following options at www.OakParkfinancial.com may be ideal. Whether you need the loan for a project on the doorstep, pay the bills due or suppliers, you can get the amount you need through one of the different financing methods that exist.
Look at small company loans!
The first one could be said, which is the most common when starting an enterprise. However, you can also take it into account for any unforeseen event that happens along the way. And it’s that you borrow money from your friends, family or someone else close to you, It can be the way to immediately resolve a lack of liquidity.
For this option, it is good to emphasize that although you get a very fast solution, the risk lies in the relationship and link that could be damaged. On the one hand, you understand the trust that exists for them to agree to lend you money, but on the other, you must be committed to pay as agreed. In addition to that, it is unlikely that you obtain the amount that your business requires.
Government funds and support
The funds and governmental support are usually directed to finance specific projects that require a large capital to be developed. Some work through calls for you to be selected based on the project, while others are conventional credits.
In Mexico, there are institutions that support entrepreneurs and the growth of their businesses. Although, for the time being, they are awaiting modifications both in the way they operate and in the budget that the government itself will determine for the future of each of them. In our last Growth and Credit Report of SMEs, we can detect, what the businessmen of the new government expect. The generation of programs that give support to SMEs (48.13%), followed by the reduction of corruption (18.54%) and insecurity (14.75%), are the main demands of business owners.
As a third financing option, there is the Seed Capital, which is specifically for when a business is just going to consolidate or create. That is, it works in such a way that investors see the viability in the business model that you present, hoping that in the future it will generate greater benefits for both. The way to get seed capital is to find investors through your networking skills, in which you can present your business model waiting for some to be interested in it and decide to contribute money in exchange for share participation. Jaguar Ventures, for example, operates in our country and is a firm of investors who are willing to support companies based on the use of technology.
The amount you can receive from financing like this varies since it can reach from 10 thousand pesos to 1.5 million pesos or more. The disadvantage that you can find here is that you must share your business with someone else.
One of the most novel sources of obtaining financing is through “Angel Investors”. The way they operate is through online platforms, in which you must explain and detail your business model so that you attract investors who wish to contribute the amount they want.
With this type of support, you can get from 10 thousand pesos to 1 million pesos. However, the time it takes to collect them may take time. It is also good to mention that the negotiation is between the investor and you; and within the most common terms established in this method, is the power of the decision, in which you will have to cede part of the control of your business to your investor since his money is at stake.
The accelerators are organizations that are dedicated to provide economic support and provide advice for startups and businesses that already in operation can raise their level of growth. You can find an accelerator that is willing to rate your business “viable”, both to receive the advice and to help you get the capital you need and invest it properly. For example, 500 Startups, is an institution that operates in Mexico and Latin America and provides this type of support to businesses belonging to different industries ranging from health to technology.
According to the project you have planned and the scope that you could generate for your business, the accelerators look for the investors that would call attention to provide capital and mentoring. Some institutions
In addition to traditional banking, today there are several institutions that offer to finance to small and medium enterprises, with the purpose of providing the money they need to grow, expand and meet the needs of lack of liquidity. With this type of financing, you can get from 100 thousand pesos to 2 million pesos to invest in your business.
Also depending on the Institution to which you approach the response time and the requirements vary. For example, in Konfío we only ask that you have at least 3 months billing before the SAT, that you have a bank account to deposit your money and that you provide us with your basic information in a form, which only takes 10 minutes to complete to receive the proposal how much can we offer you?
As you can tell, there are several sources of financing you can get for your business. What we recommend is that you compare and choose the one that best suits the needs you have at this moment, so you will be able to continue growing at the pace you have set.