Some say it’s the pinnacle of free enterprise. And pop culture lore is filled with tales of budding entrepreneurs with little more than a dream, ambition, and an empty garage. Yes, just start the business, get a loan, and get cracking on…. wait a second, let’s back up a bit.
Start up business funding is an often misunderstood concept. The old adage of getting funding for a startup business from a commercial lender is almost completely false. The truth is this – almost all lenders (including equipment financing companies) shy away from startups. Actually, lenders do more than shy away – lenders almost completely avoid them.