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6 Alternative Places to Get Money

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The 6 alternative places to get money for food startups were found at the “Here’s the Money Business Expo.”

money for your business

On Saturday, October 18th about 100 people attended this expo to help businesses where to get the money.

Since I have been working on the kitchen hub/incubator since January 2014, if I can give you a lesson, is to seek out solid funding – I’ve been disappointed by two different companies who said, they were gong to help. Make sure you get agreements in writing or at least a Letter of Intent done. I just kept saying, “I’m not ready yet!” Be ready.

What I really enjoyed the most was a morning session called “Financing Options for Start-up Businesses..” What I learned, was there are other options, for new startups, if we don’t have credit cards we can max out, or equity to put up as a deposit…what you do you do next?

The other thing that was stressed is that if your FICO score is 680 or below don’t start a business or have your own financing available. Sometimes what we need isn’t necessarily money, maybe there are other solutions to the problem.

Be clear what you are going to spend the money on, don’t just say marketing! Be clear and concise about it where you are going to spend the money – have a list ready.

Kiva Zip – Even though they are known to be a clearing house or broker for other people to ask for money to support their businesses or whatever people need. They have branched out. What you need are 15 friends who are willing to give you some money even if it’s $5., 3 references a professional picture of yourself. – When you post on their site what you will ask for the amount you want and what you will spend it on. Once your prove yourself by paying back the money you can go on the site again to ask for money. It’s money with no interest. It all depends upon your social capital.

VEDC is a community bank which gives out micro-loans $1,000 to $100,000. They have many programs available, check them out.

Renaissance can help you get financing, they have low cast classes – they work with SBA to get the funding.

Green2Gold – they are an incubator mostly focus on Environmental Education, you can join one of their Incubators sessions. They also work for food companies..since the Kitchen Hub will also be an Incubator they can help Food 4 Social Change to become one.

Operation Hope They give several money management workshops, to help you improve your establish your credit. It all started by a guy 25 years ago, recently he’s written a book “How the poor can save capitalism.” They also can help you access capital. Founder John Hope Bryan, shares his story

Crowd-Funding is still a favorite for food startups – you can pick the site and service theta will work for you.I wrote an article about this already.

Let me know how you made out, if you have or will use these resources.. Leave a comment below.

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