Financing a small business or startup may look terrifying for some. Starting a business requires a lot of expenses including buying or leasing equipment and workspace, hiring employees, stocking your inventory and supplies – and then there’s also marketing to consider.
Nowadays, traditional small business bank loans are getting harder and harder to come by which makes it harder for startup companies. Having bad credit or lack a of business history to show to bank loan managers also doesn’t help. Which will leave you no choice but to look for alternative sources of funding. Even if you secure a traditional loan, some of these alternative funding sources can help you generate the cash flow you need to pay for marketing costs.
HERE ARE 4 SOURCES OF FINANCING THAT YOU CAN CONSIDER
Online lenders
Online lenders are another way to get your hands on the money you need to cover marketing costs. These lenders give loan amounts ranging from a few thousand to a few million dollars, so you need to shop around to find the right online lender for your business needs. However, many of these lenders want to see at least a couple of years of business history, so this may not be the best option to finance marketing for your startup.
With Vidalia Lending your small business will have its funding in just a few clicks. You can visit our website, follow the steps, and wait for our call within 48 hours. You can borrow up to P500,000 depending on your qualifications.
Business credit cards
A business credit card might be the cash flow solution to help you meet recurring marketing and PR costs for your small business. It could also help you cover the cost of startup marketing to get the word out about your new business.
Having a business credit card is a good alternative especially if you’re not sure how much money you’ll need and don’t want to borrow more than necessary.
Personal loans
Oftentimes, people get personal loans to pay for their expenses like getting a car, home renovations, or any unexpected events. This doesn’t mean you can’t get a personal loan to help finance your small business marketing costs. Vidalia Lending offers different types of loans that you can use for your startup.
If you want to finance marketing costs for a startup and you’ve got good credit, it would be easier to take out a personal loan than a small business loan.
Funding from investors
Having an investor is one of the main desires of small business owners. Investors help in covering both marketing costs and other initial costs like equipment and supplies and getting their first client. Even so, not all small businesses will attract investors as much as they’re looking for businesses with high revenue and strong growth potential.
If you’re looking into your options for financing small business marketing, don’t discount less traditional financing options. These sources can all help you generate the funding to get the word out about your new business or simply manage your existing small business’s reputation.
Vidalia Lending has helped thousands of Filipinos financially over the years, It has also procured high customer satisfaction with every given service, As a result, we are highly recommended by our clients to future borrowers as well as future investors.
