Launching your start-up
Start your business with a strong foundation
Starting a business is no small feat. It requires a lot of grit, determination, and importantly — upfront capital. With over 40% of business owners relying on their personal savings or other risky ventures to fund their businesses, it’s our mission to make it easy to find alternative financing that supports your vision without sacrificing your personal savings.
In this guide, you’ll find helpful tips on what you can expect and how to plan for start-up expenses.
Common expenses for starting a business
Starting a business requires a lot of capital upfront to ensure you have a solid foundation. Below are some common costs associated with starting a new company so that you have an idea of what to expect from your new venture.
Legal and Administrative Costs
- Formation filings
- Insurance
- Legal and accounting services
Operational
- Office space
- Equipment and supplies
- Technology and software
- Salaries
- Initial working capital
Production and Inventory
- Equipment and machinery
- Raw materials or inventory
Marketing and Sales
- Branding
- Website development
- Advertising
Need capital to start your business?
How to use a startup loan to launch your business
Let’s say you want to start a landscaping business.
To get your new venture off the ground, you first need to decide on a business structure and register your company with your state. Then, you need to purchase landscaping equipment, set up a website, and decide on your marketing strategy — but these costs are more than your personal savings, and you don’t want to risk giving up ownership of your new company to investors.
So, instead of researching countless financing options, you used SmallBusinessLoans to find a start-up loan designed for new companies like yours. Applying for a start-up loan was simple — you provided your business plan and credit score and received funds quickly so you could make those essential purchases.
With your new landscaping equipment, company website, and insurance premium covered, your new business is ready to take on new clients. And your personal savings remain intact.
Best financing options for startups
From starting your business to keeping it running smoothly, there’s a financing option designed to fit your needs with SmallBusinessLoans. We’ve highlighted below some of the most popular financing options that new small business owners typically use.
SBA startup loan
With long terms and large amounts, the SBA is a great fit for companies that need capital to grow. And SBA startup loans are designed for new businesses that lack established credit scores and financial histories.
Short-term loan
With terms typically ranging from 6 to 18 months,2 a short-term business loan gives you the capital you need for upfront expenses like registration costs, software, insurance premiums, and more.
Equipment financing
If you need equipment to start your business, equipment financing makes it easy to access new or pre-owned equipment. The equipment serves as collateral for the loan, making it easier to qualify.
Not sure which financial solution is best for you? We’re here to help.
At SmallBusinessLoans, we match you with the solutions best suited to your needs. All you have to do is fill out our quick form to see your options, instantly.
