April 14, 2024

Business Bib

Business & Finance Blog

Perry Abbonizio Shares 5 Simple Ways to Finance Your Business

3 min read

Perry Abbonizio has more than 40 years’ experience working in the finance industry as a consultant and deal maker, for over 40 years Perry has helped businesses and individuals with the most complex aspects of financial structuring and guidance. Graduating from Villanova University with a bachelor’s degree in business administration and management, Mr. Abbonizio is an experienced finance professional with many successful projects under his belt.

Mr. Abbonizio is the founding partner of New Field Ventures, which is a global consultancy firm with based out of Pennsylvania. New Field Ventures was founded in 2004 and Perry currently leads the company’s advisory committee.

 

When it comes to getting your business off the ground, you have to seek financing or credit – which is the best way to grow without sacrificing on equity. Here are 5 simple ways for you to fund your business.

Traditional Bank financing

Banks are the biggest lenders for small businesses, and business loans from traditional banks are by far the commonest business loans that can be available to fund small-sized and mid-sized businesses.

Invoice Factoring

Invoice Factoring, also referred to as Invoice Financing, is a wonderful substitute to bank financing. It is a nice funding product for companies having cash flow but lacking in credit to prove themselves. This is a fast way to boost your flow of cash with no debt incurring. This option is open to lots of businesses that may not satisfy the eligibility for bank loans. You have to provide the factoring company with invoices, which can let you get money instantly without the need to wait to pay to your customers.

Equipment Financing

When equipment is needed for your business, but you lack the money for its outright purchase, you can go for any of the two options: financing or leasing.  Equipment Financing is a simple and quick way to purchase business equipments, such as vehicles, electronics and more. It can be a fantastic option in case you have a less than ideal credit rating, and the equipment serves as collateral. With Equipment Financing, you can fund everything – whether it comes to general-purpose machines or heavy-duty equipment.

Line of Credit (LOC)

This kind of arrangement is between a customer and a bank or some other financing institution. LOC establishes the most amount of loan that can be borrowed by the customer. Funds can be accessed by the borrower from the LOC at any moment, as long as they never surpass the credit limit or maximum amount that is set in the contract and satisfy other requirements – like making minimum payments on time.

Kickstarter

This is basically crowdfunding through online funding platforms, such as Kickstarter. You can create crowdfunding campaigns to finance your business project, and get your venture off the ground. It makes use of an all-or-nothing funding model. In case your project does not attain its objective, your funds will not get accumulated, and there will be no money to use as capital. That is why, you have to be serious about making fantastic campaigns that can grab a lot of attention.