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How to Get Financing as a Young Entrepreneur

Start them young, as they say. It doesn’t matter if you’re still below the age of 30, you can already start your own business. Age doesn’t matter nowadays, especially if you’re planning to achieve your goals well within your 20’s. Whatever fits and works for you, go for it! With that in mind, every entrepreneur with a dream venture definitely needs capital in order to start their business. If you’re one of the few who have already saved enough for such needed capital, then we congratulate you! However, if you’re one of the many who have yet to find their investors, then keep on reading, as we have enumerated a few business financing tips for you:

1. Borrowing your capital amount from your family and friends.

If you want to borrow money, look no further than the people you’d meet each and every day of your life. Let them know of your intentions and be sure to explain the ins and outs of your business. The thing about family members is that they are always supportive of your good deeds, the same goes for your friends. If you present your business plan in a simple, yet, effective way, they may even consider adding a few extra to your capital, just to help you out in the long run. Of course, never forget to pay them back, depending on the agreed date and time. As much as they are your family and friends, you wouldn’t want any conflict to arise just because you haven’t paid yet what is due, even after your business has already taken off successfully.

2. Consider looking for Angel Investors.

Simply put, angel investors are wealthy individuals who provide capital for a business start-up, usually in exchange for convertible debt or ownership equity. Take note of the “convertible debt” part, that means that they may either refuse to receive money in return, but instead, partial equity of the business. This would fit you if you have no concern over being a full owner and are willing to part with some shares of your business in exchange for funding. Many businesses who rely on angel investors find success along the way (given that their main owners put in a lot of the hard work as well), so this is indeed a tried and tested way of starting up your business.

3. Via Crowdfunding.

Being a recent phenomenon due to technology and improved connectivity, crowdfunding is defined as the process of rallying people behind you in order to acquire the funds that you would need for your dream venture or business ideas. A particular website enables modern-day innovators and business hopefuls to showcase their ideas via videos and visual aids, thus, providing an opportunity for community engagement and funding on the needed capital. The more impressive your idea is, the more support that you will get from your countless financial supporters.

With those methods in mind, there’s another surefire way of getting a jumpstart on your business venture with a trusted name that offers only the best service possible. Our network of more than 2,200 Cebuana Lhuillier branches and online presence give customers unlimited access and utter convenience in applying for a loan. Our five-point application to disbursement process ensures services are delivered on time. So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

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