There are many questions that entrepreneurs have to face when looking to build and fund startups such as when to raise funds, how much to raise and where to find investors. To address some of these questions, NCET held a panel discussion luncheon titled Introduction to Startup Funding on Wednesday, March 8 at the Atlantis Resort Casino Spa. The event allowed local experts and investors to share insight on funding for scalable startups — in terms of this article, scalability is a company’s ability to maintain or increase its level of performance or efficiency when tested by larger operational demands.
Getting a bank loan for a small business can be difficult. However, the US Small Business Administration has a variety of loan programs designed specifically to help small businesses. The SBA’s 7(a) loans, for example, are available in amounts up to $5 million and can be used for long-term and short-term working capital, to purchase equipment or real estate, to build or renovate a building, or to acquire or expand a business.