Alternative Funding for your Business Startup

Although the usual theme of my blog posts are mostly about technology as it relates to the music industry, this blog post is going to be somewhat different. As someone who is constantly plugged into the conversation of business startups and entrepreneurship I decided to make this blog about alternative funding if you happen to be interested in the business of starting your own company.

All startups have one major ingredient in common, they all need cash. No matter what industry you’re trying to tap into, every business needs some capital to start. The old saying, “you need money to make money” couldn’t be more fitting for this conversation. The good news is, there is a lot of money out there for the taking to start your business.

One of those places is the website of the NCIF (National Community Investment Fund). According to their website, “The NCIF is a non-profit investment fund that offers financing opportunities for mission-oriented banks and other institutions in order to increase access to services and catalyze economic development in low-income and underserved communities.” Some of the requirement and qualification you will need to obtain financing through this organization is:

1.) Having and demonstrating an effective organization leadership, 2.) Showing a substantial commitment to businesses in underserved communities by providing responsible products and services, 3.) Creating an expectation of strong financial and social return for investors.

Another website for alternative funding is AEO (Association for Enterprise Opportunity). This investment firm describes themselves as an organization and voice for microbusiness development in the United States. Some of the financing opportunities within this company is to gain investments specifically for entrepreneurs starting businesses in underserved communities. You must be starting or already running a microbusiness with zero to four employees to qualify for financing through this organization. Additionally, AEO offers a comprehensive list of partners and investors that are strategically located near your startup and within your specific industry of interest.

Overall alternative financing is a great resource for those who wish to start their own business but need the capital necessary to get the gears moving. While this post only covers two websites there are a ton of other alternative financing options out there to get in touch with to make your business ideas become a reality.