Too often, the most difficult and time-consuming step of starting a business is finding sources of funding. A lot of first-time business owners and Entrepreneurs are unfamiliar with the plethora of different options there are available for funding their start-up. Often times the financial piece of the puzzle is the most intimidating part of setting out on your own in a business. Lucky for us, there are so many options for people like us these days in the wonderful world of the internet; providing us with great resources and the ability to read about the mistakes and success of others before deciding which way to go.
I reviewed a few different funding websites, here are a couple I found particularly helpful.
The Community Development Venture Capital Alliance is a network for the field of capital investing - particularly in community development. the CDVC specifically provides equity capital to businesses in underinvested markets who seek market-rate financial returns not to mention the creation of good jobs, wealth, and entrepreneurial capacity. This organization strives to promote the field by combining advocacy & education by offering workshops and consulting services.
Not only are they are a not-for-profit - but one of the things I really liked about this organization was their ideal of using venture capital to create jobs and increase the entrepreneurial capacity and wealth and increasing the well-being and opportunities of low-income people and the economies of distressed communities.
I can imagine that an organization like this ends up with quite a few really unique opportunities and business-ventures, only because they are willing to take the "risks" associated with investing in these smaller and possibly more risky companies and start-ups.
Opportunity Finance Network (www.opportunityfinance.net)
This site, while of a similar nature to the CDCVA.org is a lending network whose primary goal is to deliver responsible lending in urban, rural, and Native markets to help low-wealth and low-income people and communities join the “economic mainstream.”
I sort of fell in love with this website upon my first look, not only does it strive to help those who may not have the financial record to support their funding needs – but it does so in a socially responsible way. Their tagline is “Finding and financing opportunities that others miss” and I love this because it really does create an incredible opportunity for those who might not have access to traditional funding routes – and additionally it does so in such a way that it is not detrimental to those seeking funds.
These two sites in particular are not necessarily the best stand-out funding options for a business like mine, however, they stood out to me because of their ability to create opportunities for entrepreneurs who may not have the same ability to gain the sources they need to see their business to fruition – and that, it something that I think we can all appreciate.
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