Small businesses often rely on lending institutions to finance their ventures. Banks, however, are not the only means to secure capital. Through creative and diligent research, entrepreneurs may uncover alternative sources of funding for their small business venture.
For this Assignment, review Table 15.1 in your Entrepreneurial Small Business textbook, which presents various types of financing options for small businesses. Next, conduct a search for specific examples of financing that are readily available for small businesses.
In your 2- to 3-page paper, be sure to address the following:
- Evaluate the risks, total cost, and the effect of time horizons for each financing option.
- Which financing option(s) is most advantageous for each phase of the business, given the different financing needs at each phase? Justify your selection for each of the phases.
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