Hey guys Sean Mory here for another session of LenCred Q&A.
We are joined today by a special guest Tom Gazaway our founder and CEO, as well as Dustin Weitzell one of our Advisors. Here answering your questions, first one we decided on today comes from Zach out of Connecticut. Tom; Zach asks a pretty great question here a basic one for startups, ” How to Finance a Startup Small Business? What do I need to know?”
That is a great question. Zach was it? Zach from Connecticut. That is a great question, the ironic thing is that we know how financing is so necessary for a small business, small business everywhere but it is even more necessary, the need is the greatest, when somebody is a start-up. It is also the hardest time to get it (financing). Sure. Don’t you agree that the options are limited? Where do you start if you are a small business owner?
Absolutely, most of the time you dont know what you dont know until you have gotten in there and start tackling it. That is absolutely one of the biggest obstacles that most of our clients have. They just dont know what options are out there. We have written about this a little bit, we have a popular blog on Smallbiz Trends about the 5 most common start up financing options. It really boils down to your most common financing options are micro loans, friends and family, rolling over that retirement money, using your personal savings, or credit cards.
If you know what those options are you can pick one or any combination of them that makes the most sense for you. Absolutely. Wonderful. Well I think that is a great answer, Zach I hope that gives you what you need to know and guys we want to thank you for your time. Please feel free to reach out to us at www.lencred.com. We would be happy to help however we can. Thanks.