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KEY POINTS

  • Explore various funding options beyond traditional loans, like microloans and crowdfunding.
  • You can leverage retirement accounts and supplier financing to kickstart your business.
  • Motivated sellers and a process called “factoring” can provide unique opportunities for business funding.

My friend Jeff wanted to start a food truck business and had read a lot about crowdfunding sites like Kickstarter. He heard that people give you money if you put up a video on Kickstarter. And he knew he would probably rather do that than take out a personal loan.

So he did.

But they didn’t.