Build your Business with No Bankroll: Kabbage Advances

Most Mondays', I like to offer creative ways for adding cash to your dream account.

Today, I'm going to suggest securing a small business loan, for those of you looking to get your venture up and running ASAP. We touched a little bit on crowdfunding, which is one of my favorite financing avenues to date, but this weekend I found myself researching small business loans.

Lets be real with ourselves. Most reading this do not have the capital saved up to start their business yet, myself included. We are working our way there; and like the saying goes "it takes money to make money". I stumbled upon an awesome little lender name Kabbage Advances. Kabbage provides capital to a plethora of small businesses with a majority in the clothing and accessories niche. 

If you are seriously considering loan financing options, research a few different banks and compare the advance and repayment options. I would suggest if you are considering this path, to have already completed a business plan and have a focused direction for your company as not to waste your or the banks' time or money. Pay attention to the type of  interest rates(fixed or variable), penalties, and payment schedules to ensure you are not getting in over your head. Also be sure to consult the Better Business Bureau or talk to your local SBA Office if you aren’t sure of a lender’s credibility.

Entrepreneurs are always weighing out different options, looking for the highest ROI (return on investment). In some instances a bank advance is the best way to get your dream up and running. If you've put your all into your product/service and have the blueprint to back it up and money is the only holdup, look into business loans. Where there is a will, there is always a way.

Now go out and build your dream.