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What are the possibilities to get money in order to start a new company?

If you haven’t formed your company yet then think about going with a C-Corp as angel investors and venture capitalists prefer to deal with such entities. Aside from those sources of funding, here are some other options:

  • Bootstrap it yourself. Self-funding from your savings is always preferred as you don’t have to give up any of your ownership.
  • Ask your “friends and family.” This can be a risky source as business relations can affect your personal relationships, yet they can be some of your biggest supporters and open to attractive terms for repayment.
  • Find a major customer to front the beginning the costs
  • Use a crowdfunding website like Fundable. Make sure you read the fine print in your agreement with the various sites.
  • Loans through the U.S. Small Business Association. A lot of different options here, and historically a solid option for small businesses.
  • Credit cards / mortgage your house.
  • Peer-to-peer lending on a site like Propser. Like crowdfunding sites, read the fine terms.

If you’d like to speak with a startup attorney regarding forming and funding your company then feel free to try out LawTrades. We are a legal marketplace for startups to find sound, affordable legal advice. Good luck!

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