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How does a person get more working capital? |
A friend of mine just starting a franchise restaurant in Jan and has been running in the red since then. The problem is that he is about $3k in the red per month, but only has about $15k in working capital in the bank. He already used his house to get the SBA loan to start the place and the startup was a lot higher than his franchise told him. Apparently they aren't helping him much, so he is stressed as to how he can get some quick capital and survive through the year. Capital can come from individuals or firms specializing in venture capital funding. In either case you will be required to demonstrate that your business can become profitable (return on investment) in the foreseeable future. If you can answer the following questions with a yes, you will not have difficulty raising funds. |
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