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Does anyone know where can I get microloans or grants to start up a small business? Is there some kind of Woman Aid for that? Goverment? Bank? I am 24yrs old. It is for a Little Cupcake Shop.
Does anyone know where can I get microloans or grants to start up a small business? Is there some kind of Woman Aid for that? Goverment? Bank? I am 24yrs old. It is for a Little Cupcake Shop.
there are special loans for women i think you probably wanna check out the small business government site htey have all types of loans and programs for women and minorities white males like myself gotta come up with our own money lol. these loans are few and far betwen and normally only cater to certain types of businesses. honestly i dont think your going to get funding for a cupcake shop, plus you should be able to start off pretty cheaply renting commmercial kitchens or possibly even baking in your home depending on how your state gives licenses and such
Being that I doubt you could get a loan from a bank (it's harder to get a business loan these days), you could try using lending club - https://www.lendingclub.com/
They have better interest rates vs banks based on your credit. The higher the credit you have, the lower the interest rate you would get. Catch is, you can only get a loan up to $35k
Being that I doubt you could get a loan from a bank (it's harder to get a business loan these days), you could try using lending club - https://www.lendingclub.com/
They have better interest rates vs banks based on your credit. The higher the credit you have, the lower the interest rate you would get. Catch is, you can only get a loan up to $35k
Good luck on your business venture!!!
you could also try kickstarter though its not really geared towards baking unless you have some really cool niche and can grab attention its more products and technology.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Regardless of the loan program you must have a viable business plan, and evidence of the experience in that kind of work to get a loan. Do some research and have that all ready before you try to apply. Don't overlook the costs of starting a business
that many people forget, such as paying the rent/mortgage on your home, food to eat, clothing and utilities at your home while starting off slow and trying to grow the business. You should have enough cash on hand to pay for the business equipment, materials, supplies, salaries, rent and utilities along with what you need to live on for 6 months. Starting a new business and making a profit withing 6 months is rare.
You would have to sell a ton of cupcakes just to pay the rent, much less the loan of such a paltry sum. What you are proposing is a prescription for failure - it makes no sense, dollars-and-cents-wise, for anyone so foolish as to lend you the money.
Business plan? What? I'll do what ever I want; and if it doesn't work I'll file bankruptcy.
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