First steps
First steps: Review our e-courses
A good place to start learning how to finance your business is our NH SBDC e -courses, which cover several areas of financing. The relevant courses include “Financing a Business in New Hampshire,” “Finding Money to Start a Business,” “Creating a Loan Package”, “Creating Financial Projections” and “Finding and Attracting Investors.”
Taking stock of your own financial resources is a good starting point. Do you have cash, home equity and other personal assets that can be used to finance your business? Do you have family and friends who might be willing to join you in the investment, perhaps for a share of the revenues when your business is up and running?
Most financing programs and lenders, including federal or state government programs, will look more favorably on a business loan application if it includes a detailed Business Plan. Lenders also want to see that you will be investing at least some of your own money in the business, and they’ll want to see how you’ll do that. Preparing a thorough Business Plan assures lenders of your seriousness and gives them the kind of information they need to best determine that your business idea will be a sound investment and will not put the lender at great risk. A Business Plan is especially important for those seeking financing for brand new businesses or for those who seek a very large loan.
After getting a Business Plan sketched out, it may be time for you to meet with one of our business advisors or to begin the process of seeking financing.