Wednesday 23 March 2016

I Need Money for My Business Right Now - I am Desperate

I Need Money For My Business Right Now

Recently on The Millionaires Giving Money Blog I noticed readers asking about how to raise money for a new business venture. The Millionaires Giving Money Blog was started to share information on Millionaires and Billionaires who help people in need. However, the blog has now evolved into a  place where we share money making ideas and NOW how to get funding for your business. A esteemed reader emailed the following question to me which has been abbreviated for obvious reasons. 

Dear Millionaires Giving Money Blog,  I have a great idea for a business. I have created a business plan and have shared it with many like minded entrepreneurs who have validated the concept. I have gone to many banks but they fail to understand the idea and have turned me down for a small business loan. I don't have the best credit in the world so I'm having difficulties getting funding for my business. If you have any ideas or strategies on funding for your business please can you share them with me. Also this blog has inspired me to dig myself out of poverty so thank you so much. 

First of all I'm glad The Millionaires Giving Money Blog has inspired you to get out of poverty. I hope your enthusiasm will help others come to the same decision. I have been thinking hard about your question and have asked most of my entrepreneur friends and I've actually managed to find 10 ways you can get funding for your business. I've also included resources at the end of the post, these resources will hopefully help to get your business off the ground.

I really hope you can use these ideas to drive your business forward and make a tremendous and sustained profit. So without further ado, here are 10 Ideas to raise fund for your business. 

I Need 10,000 Dollars RIGHT NOW

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10 Ideas to Get Funds for Your Business 

 1: Ask Crowdfunding  

More and more entrepreneurs are turning to crowdfunding with their business plans and ideas. Unfortunately Banks are unqualified pencil pushers and don't really know the first thing about entrepreneurial spirit and only look at the bottom line. If people like Steve Jobs and Bill Gates went to the Banks when they first started Microsoft and Apple they would have been refused. Crowdfunding is a great way to get funding for your business

To get started make sure you've polished your business plan and be prepared for questions on revenue, cost and profit. Know exactly how much you propose to make in year one, two and three. Have all the necessary business projections for the future and then submit your plan to the Crowdfunding site to seek investors. Because Crowdfunding sites are made up of entrepreneurs they will cut right to the chase and know if the idea is viable.
Resources: Get Crowdfunded for Your Business Right Now  

 2: Borrow Money From a Credit Card 

So many people put their holidays and irrelevant shopping trips on their credit card. When it comes to borrowing money from your credit card to get funds for your business many people are reluctant to do this. By borrowing money from your credit card to fund your business you are betting on yourself which might be scary but is the most liberating thing you can do. If you really believe in your business idea and business plan and have enthusiasm and perseverance to see this through you will be successful. 

To get started see if you can find any zero percent credit card where you can transfer money to your checking account. The trick is to find a zero percent money transfer credit card so you don't have to pay any interest to get your business off the ground. I know many people who used this method to get their business started and haven't looked back since.
Resources: Zero Percent Credit Cards for Businesses 

 3: Sell Everything You Don't Need 

The things we own end up owning us. If you really want to focus on your business plan then you need to remove all the distractions in your life. When I first knuckled down to start my business I got rid of all my crap on sites like eBay to raise money for my venture. 

I was surprised at how much possessions I had accumulated and all these items were putting a strain on my mind. When I got rid of these items I no longer had to worry about them and in the meantime raised a lot of cash in the process. I used this cash to start my blog and other sites and haven't looked back since. To get started make a list of all the items you don't need. 

Ask yourself whether the item is more important than your business and be relentless in the process. Put all the items on sale on eBay by taking immaculate pictures and posting highly informative descriptions. Once you start selling use all the money for your business and don't get sidetracked into spending on more useless things.
Resources: How to Start a Successful eBay Business 

4: Ask the Bank of Mom and Pop 

Entrepreneurs are reluctant to ask their parents and parents are reluctant to lend because they don't want to cause a rift in the relationship. However, if you really believe in your idea and are passionate to the point you wont give up on your dreams you will get funding for your business from your parents. What parents want to see is you are serious about what you're doing so they feel confident lending to you. To get started present your business plan and explain everything to them in laymen's term. 

Let them know that there's no pressure and they should only be obliged to lend or invest if they believe in the idea and believe in your enthusiasm and passion to get the business off the ground. I have no doubt that when you pitch a compelling business idea you will get support from your parents and raise fund for your business. 
Resources: How to Ask Your Parents for Money

 5: Ask Angel Investors 

If you have an idea similar to Mark Zuckerberg or Bill Gates, an idea that can change the world but for some reason banks can't fathom the concept, then you need to find yourself an Angel Investor and pitch your business idea. Businesses like Google and Facebook would never have come to existence had it not been for Angel Investors. 

To get started you need to polish your business plan until it shines and then find Angel Investors who are scattered all over the web. Email your idea and business plan to them and see what they think. Angel Investors are always looking for ways to get an exponential return on their money so you will get funds for your business if Angel Investors see the potential in your idea.
Resources: US Angel Investors 

 6: Go on Dragon's Den 

Having an influential business partner could make all the difference because they have the power to open doors we didn't even know exist. Going on Dragons Den to pitch your idea might seem daunting but its the fastest way to 'guarantee' success because these dragons can make things happen very quickly. 

To get funding for your business contact the editors of Dragons Den in your country and convince them you can pitch your idea and make a Dragon invest. If your plan has potential you will get your 10 minutes of fame which might lead to a lifetime of wealth and riches. 

 7: Local Entrepreneurs 

Every community has a handful of successful entrepreneurs who have made it and are living it big. What annoys me is most ordinary people shun these Uber rich people and dismiss them as arrogant. What you need to do is network with these people because they have the financial power to make things happen. 

Getting funding for your business might be as easy as finding a local entrepreneur for money and asking them to invest. Make a list of all the successful people in your community and then email your business idea to them. As always make sure your business plan is polished and be passionate and enthusiastic in your email to raise funds for your business. 

 8: Work Your Socks Off 

Some entrepreneurs don't like asking for money and don't like the idea of taking on a business partner. If that's the case you need to work your damn socks off to raise money for your business. Ask your boss for a pay rise or find another job that pays more. You need to live frugally so you can save at least 70% of the income you have coming in. 

In a year or so you should have enough money to get your business of the ground without the help of lenders or investors so you can truly label yourself a self made man. The key is working hard and living an extremely frugal life and saving as much as you can. Think of it as forgoing present happiness for long term happiness in the future.   

 9: Pawn Valuables 

I don't really want to recommend pawning valuables but sometimes it makes sense. If you pawn valuables to make ends meet you'll eventually get into trouble. However, if you pawn valuables to bet on yourself and raise funds for your business its worth a shot. To get started make a list of all the items you can pawn and then find a pawn shop that will pay you top dollars for your stash. 

Once you have the money use it wisely to get your business started. Don't waste money on coffee or a brand spanking new desk, use the money where you will get the greatest dollar return over the long term. 

 10: Sell Your Idea 

If you can't get funding for your business or simply don't want to go to all the trouble you could sell your idea for money. Unfortunately you wont be able to reap the long term benefits and profits if you do this but you wont have to go through all the strife to set up the business and make it successful. 

To get started find entrepreneurs or other businesses who might be interested in your idea. Contact these people and let them know an idea is for sale. Make sure you get them to sign a disclaimer or contract to pay you money if they like your idea so they cant copy your plans. If you're idea is as good as you think you will get some money.

 Get Funding For Your Business 

There are so many ways you can raise money for your business and I've only mentioned 10 ways to get funding for your business idea. The key to success here is not giving up on your dream however many times you get rejected. You must remember when one door slams in your face another 20 doors will open. 

Its only a matter of time and if you persevere and patiently keep going you will get funding for your business. I really hope this post can help you and other like you and please remember to like this post and follow me on Google+. God Bless. 

Effective Resources to Start Your Own Business

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Thursday 17 March 2016

I Need 3000 Dollar Loan With Bad Credit - 10 Ideas to Raise Money

I Need 3000 Dollar Loan With Bad Credit 

At the beginning The Millionaires Giving Money Blog was all about connecting millionaires and billionaires to ordinary people who needed help. Over the years the site has evolved into a community that shares ideas on how to make money quickly. I recently received an email from a long term reader asking how to borrow money quickly. The reader asks the following question which has been abbreviated. 
 Dear Millionaires Giving Money Blog. I have used many of the ideas shared on this blog to make money, thank you. I have been making and saving money diligently however recently through no fault of my own I urgently need 3000 dollars for a family emergency. Can you give me any ideas or strategies to help me get a loan for 3000 dollars with bad credit. Thanks in advance.   - Clara    

First of all I'm really happy that The Millionaires Giving Money Blog has helped you to make money quickly. I also understand that from time to time your financial progress can halted by other people so its important to find a solution quickly and move on. In this post I will be sharing 10 ideas, strategies, advice and insights into how you can get a three thousand dollar loan and improve your credit. 

Before you continue its important to understand that taking a three thousand dollar debt is a big deal especially when you are trying to improve your standard of living. The money must be used wisely and you need to see if you can afford to take on the debt otherwise you'll get into trouble paying the money back. 

1: Do You Really Need the Loan? 

Being approved for a 3000 loan with bad credit means that you will be paying a very high interest on your debt. Before you apply for these high risk products you need to ask yourself some very important questions. The first is - Do you really need the loan? If a member of your family is placing pressure you must consider the consequence of how paying back three thousand dollars will affect your personal finance circumstances which you've worked so hard to improve. You must search for alternatives and borrow money as a last resort or your personal finances will take a big blow.
Resources: How to Stop Spending So Much Money  

2: Improve Your Credit Score 

If you want a loan for 3000 dollars and have bad credit the first thing you need to do is get a copy of your credit file. You need to go through this report thoroughly and put right any discrepancies. If there are any mistakes contact the credit reference agencies to correct the error. 

The last thing you want is to pay more interest for an error which is not your fault. If you have any small balances lingering then pay these off and make more than the minimum payments on existing debt that you have. Just these two simple steps alone will boost your credit score so you'll be eligible for more products at better interest rates. 
Resources: 5 Ways to Give Your Credit Score a Quick Boost

3: Borrow Money from Friends/Family 

A 3000 dollar loan for people with bad credit will cost a lot of money, sometimes you'll have to pay phenomenal amounts of interest especially if you choose a pay day loan where the interest exceed 500%. Before you consider taking out any loans ask your friends and family for a loan. So you're taken seriously the best way to go about this is to make professional agreements. 

Download a loan contract and specify how much you will borrow and when you will make the repayments, ask for a cheeky rate like zero and put up a security on the loan so that your friends and family will take you seriously. By taking these simple steps you can get the money you need at a very low interest payments without filling out forms and providing proof. 

4: Interest Free Credit Cards 

Credit cards can be dangerous however if you're disciplined the plastic card can offer a lifeline when you're desperate for money. Depending on your credit score you could be eligible for zero percent on your credit card which means you don't need to pay any interest. Once you've fixed up your credit file you can call all your credit card companies and ask if they have any deals. 

At the time of writing this post banks are lending money at ridiculously low rates of interest and offering up to 40 months to pay off the money. Normally there's a charge of 2% to 3% which means you'll need to pay anything between $60 and $90 to borrow the money. As always you need to work out whether the repayments over the term of the loan are affordable otherwise you will get into trouble. 
Resources: Zero Percent Balance Transfer Credit Cards

5: Buy Now Pay Later 

If you need a 3000 loan with bad credit for household items then you should consider buy now pay later catalogs. With BNPL for short you can buy everyday household items from electronics to appliances and put everything on credit. Sometimes you can get a zero percent interest deal and defer your payments for up to 12 months. 

With credit available so easily there is a good chance you'll be approved even with a poor credit history. The amount you get to begin with might be low, however, once you've proven that you can make payments on time your credit line will be increased very quickly. Many retailers such as Amazon and PayPal offer this service so its definitely worth considering as you wont have to pay so much in interest. 
Resources: Bill Me Later From eBay

6: Sell Unwanted Items 

Rather than getting a 3000 loan with poor credit and high interest you should consider selling off possessions you no longer need. Go through your entire home and make a list of all the possible items you no longer need and want to sell. It is so much better to sell unwanted items and raise three thousand dollars instead of taking out loans for 3000 with bad credit. You need to be relentless and mercurial when you put these items for sale. Take excellent pictures and write professional descriptions to maximize sales, your aim should be to get as close to three thousand dollars as possible. 
Resources: How to Make a LIVING selling on eBay

7: Pawn Items 

Another alternative to taking out a 3000 dollar loan with bad credit is to pawn items. If you want to borrow the money for a short period of time and have valuables like gold and silver jewelry you could get the money at lower rates of interest compared to taking out a pay day loan. This option should only be exercised if you have bad credit and are ineligible for zero percent credit cards and loans. 

To get started take your valuables to a few reputable pawn shops and get a valuation. Once you know the average value find a pawn shop with the lowest rates and take out the 3000 dollar loan. One important point to remember is your items will be kept and sold if you can no longer service your loan. 

8: Know Your Rights 

If someone is harassing you for money and you're taking out a loan with bad credit you should seek free advice. Your personal finance and progress comes first and you should understand this. Taking out a three thousand dollar loan will put you back years and sometimes its is impossible to make up the time especially if you're getting on and time is against you. If anyone is bullying you for money you need to tell them to back off. 

I receive so many emails about partners bullying them into taking on debt which is unacceptable. You have the right to say no when someone asks you to take on debt so exercise your right and say NO emphatically. 

9: Avoid Loan Sharks 

Some people turn to loan sharks when they need 3000 loans with bad credit. In the past I've thought about going to the 'Sharks' when I needed money but luckily I talked myself out of this ridiculous idea. Going to a loan shark is absolutely NOT advisable. These loan sharks will get you into trouble. One way or another theses dark entities will start owning you and that's when your life will go downhill very fast. No matter how desperate you are you should never turn to a loan shark for money. 

10: Increase Your Mortgage 

If you have a mortgage then you should be aware that some lenders allow you to borrow additional money on your mortgage. Adding more to your mortgage is not advisable however if you're desperate and need money quickly and your only option is a loan shark then needs must come first. To get started call your mortgage company and ask if they offer additional borrowing on your mortgage. If they do then you can borrow 3000 dollars even if you have bad credit. You must make sure that the money you borrow is at a competitive rate and understand how much this will add to your monthly mortgage repayments. If you can afford the extra payment then you can consider the loan, if the payment is beyond your affordability you must accept this and move on. 

I Need a 3000 Loan With Bad Credit 

Getting a 3000 dollar loan with bad credit is hard but it's not impossible. You must ask yourself some tough questions to start with and reflect on whether you really need the money as this will affect your personal finance in the long run. You must try and repair your credit file so you can borrow money cheap. You should pursue options where you can borrow money interest free so you only repay the principal. When you're running out of options consider payday loans. Never borrow money from a loan shark.  

I really hope these 10 ideas/insights/advice help you solve your problem and please feel free to email if you have any follow up questions. I really want to help our community so if you have more ideas please list them on the comments section below. Also feel free to follow me on Google+ for more helpful posts from reader questions. 


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