Finding money to start your business

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Previous articles in this series provided the groundwork for preparing for your new business and planning ahead to avoid costly mistakes. Once you know that you definitely want to start a business, and you have a plan, a description, your business name and your legal entity, you’ll want to find the money to start your business.

Sometimes, if you start a business initially as a side gig or a hobby, it’s self-funded. The money comes from your paychecks, your savings, a home equity loan, or even a line of credit from our bank. The money could be in a property you plan to sell, or stocks, bonds and other assets that you can use to start your business. Your side gig or hobby could turn into a fully-fledged business and you may simply need to explore additional sources of financing. And sometimes you may not have the entire amount needed to start the company on your own and you’ll need assistance.

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