5 financing options to start your business or project

A few days ago, we published an article about the beginnings of some of the largest and most valuable companies in the world: Apple, Google, Amazon, Nike, and Disney. These companies have something in common, they started in a garage with very few resources; however, they also obtained investments that contributed large capitals, which allowed them to grow rapidly.

In Mexico, many business ideas cannot become reality or remain in time due to lack of capital. Fortunately, in recent years, support for entrepreneurs and micro, small and medium enterprises has been strengthened. You can find several options to finance your business or the project. Here we share trusted company website Acfa-cashflow.com for loans.

1. Crowdfunding

That is, collective funding means that several people can help finance almost any type of project in exchange for a profit or reward.

Kickstarter Mexico. It is a model for new creators looking for money to finance a project, among the general public. If you are an artist, musician, filmmaker, designer, or you relate to the creative industries, you can establish the amount you need to carry out your project and seek donations.

If you do not reach the goal, the money collected is returned in full to the patrons. If you reach the goal, rewards are usually offered to those who supported you.

Donadora is a web page that allows you to collect donations online for any cause or social initiative. They also give you accompaniment so that your campaign is successful.

Unlike Kicktarter, if you do not reach the goal, they do give you the funds raised, so that your idea can have an impulse and can be realized.

Playbussines is an equity crowdfunding platform to collectively invest in scalable Mexican startups. This tool allows anyone to make investments from 100 pesos to 10 million pesos per month, according to the goal you set for your business.

When dealing with equity, investors become owners of a percentage of the profits generated by the company, therefore, the more the company grows, the more the value of the money invested will increase.

Indiegogo allows people to request funds for an idea, a charity or a start-up company. It is all in one. Donations or investments can be made in which a distribution of income is offered.

This portal also works as an online store, in which the innovations coming from successful crowdfunding campaigns are commercialized. That is, you can make your first sales.

RocketHub promotes funding based on donations and also equity investment for a wide variety of projects.

They help you in the promotion and marketing of your donation or investment campaign for the success of your campaign.

2. Public institutions

The National Entrepreneur Institute (INADEM) is a decentralized administrative body of the Ministry of Economy, which aims to support entrepreneurs and micro, small and medium enterprises. It promotes innovation, competitiveness, and projection in national and international markets to increase its contribution to economic development and social welfare.

EL INADEM concentrates information from public and private institutions that can help you finance your project. Among the calls you can find are those of institutions such as Conacyt, Inmujeres, Imjuve, Sagarpa, of the same Ministry of Economy, among others.

3. Online loans

Business loans online https://acfa-cashflow.com/merchant-cash-advance-financing/ good funding for your business are issued by specialized financial technology companies. They work under the crowdfunding scheme. In this case, people lend you the money to start your business and in return, you pay them a certain interest rate. In this way, money can be obtained faster and with much more attractive rates than pawnshops, sofoles or lenders with guarantees. Among the best credits in this area we have:

Kubo Financiero lends you from 5 thousand to 100 thousand with an interest rate that can be 16.5%, 32.5% or 52.6%, depending on your credit score.

Doopla loans from 10 thousand pesos to 300 thousand with an interest rate between 12% and 18%

Konfío. Loans up to 150 thousand pesos with an interest rate of 60%. The financing is from 10 thousand to 250 thousand pesos with an interest rate of 11.96% to 47.02%.

Credijusto . It offers up to 6 million pesos in financing for an SME with an interest rate of 26 to 35%.

4. Contests

One of the most common ways to access and be able to compete in calls for a lost fund is that you enter your idea or your business to an incubator or accelerator because they will prepare you for this type of contest.

Some companies that give great incentives are Citibanamex Foundation, Calos Slim Foundation, Walmart Foundation, Fundación Telefónica, Everis Foundation, among others.

5. Angel investor

They are people with experience in the field of business who contribute money to projects that may be interesting. The best part is that if they give you the money it is because they have studied your project. In exchange for their financing, they will probably ask you for a considerable portion of their company. If you feel comfortable exchanging shares for an economic boost, go ahead.

Finally, we can close with a quote from Alejandro Guízar, CEO of Billpocket, which summarizes the financing process: “There are different sources of financing for your business depending on the stage you are in, but without a doubt, the principle is always the same: first invest you, then convince the 3 F’s (Family, Friends & Fans) and then bring private investors.