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Business Plan Tutorial: Step 10 Funding

Financial Terms

What are the types of financing you are hoping to get for your company?

Questions you should answer within your business plan:

  1. How much money do you need?
        A. When will you need money?
        B. How many customers do you need to break even? What percentage of your target market is that?
  2. Where do you plan to obtain the money?
  3. What will the investor/lender get out of this deal?
  4. What are the actual terms of the deal? (i.e., interest, dividends, payouts, stock, expected work loads for partners)
  5. When will you break even?  
  6. When can you expect to start to pay off investors? When do you believe you will be done paying off the investors?

Funding - Print

Funding - UW Restricted

Funding - Free Online

Banks- The entrepreneurial class was told to form a personal relationship with their bank, or think about getting a different bank.  Talk to your bank and see what they can do for you.   

Angels- talk to friends and family to see if they know anyone.  Two possible guides- How to Find an Angel Investor & Solutions for the Startup Funding Problem, but most of these funds want an introduction rather than a cold call.

Venture Capital Firms- Like Angels, getting introduced is best.  Be prepared to submit a complete business plan. 

Government Grants- "An award of financial assistance in the form of money by the federal government to an eligible grantee with no expectation that the funds will be paid back."- http://www.entrepreneur.com/encyclopedia/government-grants 

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