Try to contact major entrepreneurs in the city – quite often they themselves are looking for sponsorship options so that the money can work.
It is worth contacting those who will evaluate the profitability of your idea, but you will have to make an effort and prove that the project has potential.
For example, if you are going to open a store for vegetarians, look for sponsors among manufacturers and suppliers of such products.
Support for businessmen
Getting a loan
This option becomes a way out benefits of using our homeowner database when it is not possible to agree on sponsorship with business representatives. This approach is not the worst, because you will easily return the loan if the business develops successfully.
Since it is difficult to judge the success of a project in advance, there are always risks. It is also necessary to take into account that banks provide a large amount for a project at a high interest rate - this is most relevant for consumer loans.
Loans specifically for starting a business are provided reluctantly. However, this option for financing a project is more profitable, since the interest rate is much lower.
You can increase your chances of receiving funds from the bank by doing the following:
draw up a business plan, where you indicate detailed accounting, projected profit, conduct a market analysis and create a loan payment schedule;
provide a good credit history with the bank and partner banks;
confirm your experience in entrepreneurship - ideally it should be in the field of management;
find part of the amount in advance - there is a better chance of getting a loan for a project that already has investors, for example, space has been rented, equipment has been purchased, etc.
The bank has the right to request the maximum package of documents for a business loan application. Before applying for funds, resolve issues with debts to the tax office, utilities and other credit and financial institutions.
You will need to provide a passport, tax identification number, business plan, constituent documents, and an extract from the Unified State Register of Individual Entrepreneurs. The bank may also request other documents - their list depends on the specific credit institution. The borrower's task is to prove their reliability.
Venture fund assistance