Black Enterprise Small Business University Week 2 Review

This week personal finance expert and founder of Ask the Money coach.com , Lynnette Khalfani-Cox is teaching a course on Financing and Investing. Lesson 1: HOW TO RAISE CAPITAL FOR YOUR BUSINESS (LOANS VS. INVESTMENTS) Raising capital for your business is tough, but just because it’s tough doesn't mean you can’t do it. First thing to remember is financing starts with you not someone one else. Start financing your business with your own personal money, look into second car that you can sell, whole life insurance policy that's been building cash value, furniture , assets that you own that you can sell and electronics . Be prepared to show that you've put up money of your own for your venture and have some sweat equity invested. Secondly, get in touch with your local small business administration office for financing options. They maintain a data base of loans and funding initiatives for different types of business owners. There are loan...