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    2 Replies Latest reply on Jun 4, 2010 3:28 PM by SmallBizLoan1

    How To Fundraise A New Business

    femireg Newbie
      Please, give me insights into how to source for funds from people for a business. The business is not nonprofit. Do you think this is possible? Will people only financially support nonprofit businesses? Will they be willing to assist my business? I am unsure, please, help me.

      Thanks a lot!
        • Re: How To Fundraise A New Business
          phanio Pioneer
          The first thing to think about here is who are the people you are targeting? If you really understand the people you are targetign - they you will know how to approach them and with the right message.

          People will donate to businesses that that they feel contected to or feel will benefit them or their community - if you can target these people with the right message - then fundraising will not be an issue to you.

          You could also let them know that (if you are) a 501(c)(3) - that they might be able to receive a tax deduction for their contribution to your business - you jus thave to provide them your EIN.

          Also, a good way to promote your business is to contact local media players - like TV, Radio, Newspaper players in your area. Tell them what you are doing and see if they will do a story on your business - tell them you are looking for donations - if you work this right - free publicity

          Or, partner with other organization in your area and raise funds together.

          Lastly, think about joining your chamber of commerce and attending their events - the more you can network - the better your business will be.

          Business Money Today

          • Re: How To Fundraise A New Business
            SmallBizLoan1 Newbie
            You can try applying for an SBA Loan or a Government Grant.

            SBA Express Loans